US-China engagements have moved us 'along the right path': Yellen

SAN FRANCISCO -- US Treasury Secretary Janet Yellen said Monday that recent US-China engagements have moved the two sides "along the right path."

"Responsibly managing the US-China economic relationship" has been "a key priority" throughout her time in San Francisco, Yellen told reporters at a press conference following the conclusion of the Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Meeting.

Yellen noted that she met with Chinese Vice-Premier He Lifeng last week, and had a "productive meeting" with China's new Finance Minister Lan Fo'an this week.

"President Biden and I believe strongly in advancing the values we share with our allies and partners in the Asia-Pacific and beyond, while also pursuing a healthy and stable economic relationship with China," said the US treasury secretary.

Going forward, Yellen said, "We hope to build on the foundation we have laid to further deepen communication, stabilize the relationship, and make progress on key issues."

"There's hard work ahead of us, but I believe our engagements here have moved us along the right path," she said.

At the press conference, Yellen highlighted that APEC economies are "at the center of the global economy and our world's economic future."

"Cooperation across APEC economies is also key to tackling the challenges we all face, including the urgent threat of climate change," she said.

The US treasury secretary also told reporters that APEC finance ministers talked about the Israeli-Palestinian conflict's risk to the global economic outlook.

"We've not really seen yet much economic impact from what's happening, but we are concerned and broadly view it as critical not to see the conflict expand," she said.