US Treasury official meets with China's new ambassador in Washington

U.S. Treasury Undersecretary Jay Shambaugh met on Friday with China's new ambassador to the United States, Xie Feng, holding a discussion aimed at maintaining open communications between the world's two largest economies, the Treasury said.

"The meeting was candid, constructive, and part of ongoing efforts to maintain open lines of communication and responsibly manage our bilateral relationship," the Treasury said in a readout of the meeting.

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