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Liu He
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  • The potential multilateral deal is seen as a crucial test case for efforts to help developing countries find relief from sometimes crushing external debt
  • Janet Yellen met her Chinese counterpart, Liu He, in Zurich on Wednesday. On Friday she said China’s response to Zambia’s situation had been ‘constructive’

Vice-Premier Liu He tells the World Economic Forum that China is getting back to normal more quickly than expected after lifting its zero-Covid policies last month.

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Washington says aim of Yellen’s meeting with Liu is to ‘deepen communication’; Beijing calls the meeting ‘policy coordination’.

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Reshuffle follows Central Committee retirements, banking crises and Xi Jinping’s anti-corruption campaign but scope of changes prompts uncertainty.

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Chinese officials have trumpeted dazzling economic figures to make the case that the country can escape the middle-income trap, but some inconvenient statistics point to a worrying trend for the world’s second-largest economy.

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Some analysts say any move by Washington to cut tariffs on Chinese goods would be solely in the US’ own interests, rather than signal an abrupt change in President Biden’s China policy.

Remarks by Vice-Premier Liu He suggest vaccine development remains on the agenda for China, with clinical trials of a home-grown Omicron jab having started in Zhejiang.

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The nation’s propaganda machine is churning out pro-growth statements and defending coronavirus-control measures, but some question the official data and say greater policy support is needed.

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The shift in policy comes as Chinese Vice-Premier Liu He called for order and transparency in regulators’ dealings with the country’s Big Tech firms.

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Vice-Premier Liu He says China is on track to beat its economic growth target of ‘above 6 per cent’ this year, but numerous challenges remain – from the coronavirus to power shortages.

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‘Candid’ exchange between Liu He and Katherine Tai also sees Beijing pushing for tariffs to be lifted, while Washington raises concerns over China’s economic model.

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President Xi Jinping and his top economic adviser, Vice-Premier Liu He, on Monday tried to reassure the private sector of its critical place in China’s economy, despite recent regulatory pressure.

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China’s Ministry of Commerce (Mofcom) was established in March 2003 and is responsible for trade negotiations and the relationship with the World Trade Organization (WTO).

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Economist Gao Shangquan was one of the architects of China’s reform and opening up in the late 1970s and Hong Kong’s handover from Britain in 1997.

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Parts of the relationship between China and the United States are ‘unhealthy’ and have been ‘damaging’ to the US economy, US Trade Representative Katherine Tai says.

Beijing and Washington officials agree that resumption of trade dialogue after nine-month hiatus is constructive, but US says ‘very large challenges’ exist in trade and economic relationship with China.