China told US officials its banks 'doing well' despite financial turmoil, Yellen says

U.S. Treasury Secretary Janet Yellen said on Friday that Treasury officials visiting Beijing recently received assurances that Chinese banks are "doing well" despite turmoil in the country's financial and real estate markets, adding that she did not see large spillovers to the U.S. economy at this stage.

Yellen told reporters during a visit to a Milwaukee job training center that a U.S.-China economic working group would meet in Beijing shortly for larger discussions on China's economic situation.