China vice premier holds talks with US Treasury secretary

China and the United States agreed that bilateral economic relations are very important, state news agency Xinhua reported, citing a video conversation between Chinese Vice Premier Liu He and US Treasury Secretary Janet Yellen on Wednesday.

The two sides had extensive exchanges on the macroeconomic situation and bilateral and multilateral cooperation, and exchanged views on issues of mutual concern, Xinhua said.

The two sides also expressed willingness to maintain communication, Xinhua reported.

Meanwhile, the US Commerce Department is failing to do its part to protect national security and keep sensitive technology out of the hands of China’s military, according to a US congressional advisory report.

The US-China Economic and Security Review Commission report, due to be published on Tuesday, said the Commerce Department had been slow to create a list of sensitive technology that should be scrutinised before export to China.

The lag in developing the list of emerging and foundational technologies, as required by a 2018 law, may exacerbate national security risks, the report said.

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