Tim Geithner Says China-US Talks Made “Significant Progress” But Yuan Revaluation Needs To Speed Up

tim geithner small hands pinch AP

Talks between the U.S. and China in regards to economic policy saw both parties make “very significant progress,” according to U.S. Treasury Secretary Timothy Geithner.

Speaking at the U.S.-China Strategic and Economic Dialogue’s closing, Geithner outlined progress in rule changes to protect U.S. technology in China, as well as further moves on issues of transparency.

Chinese Vice Premier Wang called the talks a “success,” saying both parties agreed to “reject protectionism.”

Wang also said the Chinese government was more open to U.S. firms investing in China.

Geithner was less positive on progress regarding the yuan, saying that he hopes China speeds up its revaluation.

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