On February 28, senior economic officials and financial regulators from the United States and China took part in the eighth U.S.-China Joint Economic Committee (JEC) Deputies Meeting at Treasury. Under Secretary for International Affairs Lael Brainard offered opening remarks at the meeting, which was co-chaired by Treasury Assistant Secretary for International Finance Charles Collyns and Chinese Vice Minister of Finance Zhu Guangyao. U.S. participants discussed the Administration’s efforts to strengthen growth, create jobs, reform our financial system, and return the United States to a sustainable fiscal path. The Chinese delegation discussed policy measures China is pursuing to change its growth model by increasing domestic consumption, expanding its imports, and reforming its financial sector. Both sides also exchanged views on the global economic outlook and other priority issues.
The JEC was first held in 1980 and has long served as a prominent forum for discussing important bilateral, regional, and global economic issues. In recent years, the JEC has met annually at the Deputies level. The last meeting took place in Beijing in March 2011.