In response to U.S. Treasury Secretary Janet Yellen's discussion of Chinese industrial overcapacity last week, Vice Finance Minister Liao Min pushed back against Yellen's comments in a press conference. His responses suggest that there is disagreement between the two sides on the scope and seriousness

At a press conference on Monday, several reporters pressed U.S. Treasury Secretary Janet Yellen on the Biden administration's strategy for addressing Chinese industrial overcapacity, in light of her comments about the issue during her visit to China.

Last week, Chinese MOFCOM officials led by vice minister Wang Shouwen visited the United States for the first vice-ministerial meeting of the bilateral Commercial Issues Working Group, a communication mechanism created last year.

Over the past few days, U.S. Treasury Secretary Janet Yellen has been in China, and during her trip she has raised a number of trade issues with her Chinese counterparts, with a focus on overcapacity and its impact on foreign markets.

At today's press conference on China's foreign policy, Chinese Minister of Foreign Affairs Wang Yi criticized the United States "unilateral sanctions list," as well as a conflicting message sent by the European Union on its relationship with China.

On Friday, the U.S. Trade Representative's Office released its trade policy agenda for next year / annual report of trade policy last year, touching on various issues related to U.S.-China trade.

The Chinese Premier expressed a welcome to a U.S. business delegation, but trade tensions between the two governments remain, as both sides have a long list of complaints.