Business News
US Treasury Secretary Geithner heading to China
May 12, 2009, 17:40 GMT
Washington - US Treasury Secretary Timothy Geithner will visit China next month in an effort to boost cooperation between two economic powers considered critical to ending the global recession, the Treasury Department said Tuesday.
Geithner, in his first visit to Beijing since taking office, will hold talks with Chinese officials from June 1-2. The trip comes after US President Barack Obama and Chinese President Hu Jintao held talks during a meeting in London last month.
The world's first and third largest economies will also be looking to smooth over some tensions that have emerged over economic policy and the strength of their currencies.
Geithner criticized China earlier this year for keeping its currency artificially low. Chinese officials have suggested the world should move away from using the dollar as its chief reserve currency and expressed concern about the US' spiralling budget deficit.
The Treasury Department said the two sides will discuss 'strengthening US-China economic ties to promote stable, balanced and sustained economic growth in the two nations.'
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