China and US meet over economic woes

Vice Minister of Finance Zhu Guangyao speaks at the Lanting Forum on June 2, 2016. [Photo/Xinhua]

China and the United States will facilitate dialogue and enhance communication on key bilateral economic issues, a senior official said at the Lanting Forum on Thursday.

"China and the United States should have a robust exchange of ideas and make progress at the time when the global economy is recovering slowly," said Vice Minister of Finance Zhu Guangyao.

Zhu expects the two countries will seek solutions to key challenges at next week's Eighth Strategic and Economic Dialogue.

Zhu says some of those challenges include moving towards more open markets and to create a better business environment for entrepreneurs from both countries.

While addressing the recent yuan depreciation amid an expected Federal Reserve interest rate hike, Zhu said the yuan would remain stable in the long term, as the nation's economy fundamentals had not changed.

"China is willing to discuss and enhance communications on currency issues with the United States," Zhu said.