Chinese Vice-Premier He Lifeng met with Under Secretary of the U.S. Treasury Jay Shambaugh in Beijing on Friday, as part of the ongoing efforts to stabilize and develop economic relations between the two nations.

He stated the need to uphold the consensus reached between the leaders of both nations during their meeting in San Francisco last November as well as their subsequent phone call in April.

He called for enhanced communication and coordination on macroeconomic policies and stressed handling bilateral concerns equally and respectfully.

Shambaugh relayed a message from U.S. Treasury Secretary Janet Yellen, expressing the U.S.'s eagerness to maintain economic dialogues and foster a healthy China-U.S. economic relationship.

The meeting coincided with the fifth meeting of the China-U.S. Economic Working Group. The economic talks, held in Beijing from Thursday to Friday, were co-chaired by Chinese Vice-Minister of Finance Liao Min and Shambaugh.