Liu He, China's Vice Premier spoke with US Treasury Secretary Janet Yellen regarding the macroeconomic situation and bilateral relations.

The US Treasury subsequently stated in a short supplemental statement that Yellen "frankly highlighted areas of concern," but did not elaborate on the concerns, adding that Yellen looked forward to future discussions with Liu.

According to the Chinese side's readout, both sides agreed that it was critical for the two nations to improve communication and coordination on macroeconomic policy. 

China also highlighted its concerns about US tariffs and the treatment of Chinese businesses.

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Liu, who has led China's negotiations in Sino-US trade talks since former US President Donald Trump embarked on a trade war with Beijing, has met with both Yellen and US Trade Representative Katherine Tai earlier this year.

Since Joe Biden became president of the US in January, there has been increased engagement between the trade and economic leaders of the world's largest economies, even as the US administration criticises Beijing for human rights abuses and seeks to rally other wealthy nations to form a united front against China.

Earlier in October, Tai promised to exclude some Chinese imports from tariffs while pressing Beijing for failing to keep several pledges established in the Trump administration's "Phase 1" trade agreement.