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5/5/2020 Readout from a Treasury Spokesperson of Secretary Lew’s Meeting with Chinese Finance Minister Lou Jiwei at the G-20 in Ankara, Turkey U.S. DEPARTMENT OF THE TREASURY Press Center Readout from a Treasury Spokesperson of Secretary Lew’s Meeting with Chinese Finance Minister Lou Jiwei at the G-20 in Ankara, Turkey 9/4/2015 ANKARA – U.S. Treasury Secretary Jacob J. Lew today met with Chinese Finance Minister Lou Jiwei on the sidelines of the G-20 Finance Ministers and Central Bank Governors Meeting. Secretary Lew and Minister Lou discussed the outlook for the Chinese economy and recent developments in financial markets. Secretary Lew noted that he has closely monitored China’s recent economic policy actions, including the recent shift in China’s exchange rate regime. Secretary Lew emphasized the importance of China accelerating its transition from export- and investment-led growth to a greater reliance on Chinese households and consumers, especially when global growth faces headwinds. He emphasized that continued progress on economic reform would result in a stronger, more stable, and more balanced Chinese and global economy, which is in China and America’s interests. Secretary Lew underscored the importance of China carefully communicating its policy intentions and actions to financial markets. Secretary Lew also emphasized the importance of China honoring its commitments to move in an orderly way towards a more market-determined exchange rate system and to increase the transparency of its exchange rate policies. Secretary Lew also noted that it was important for China to signal that it will allow market pressures to drive the RMB up as well as down, and that China should allow its exchange rate to reflect underlying fundamentals, avoid persistent exchange rate misalignments, and refrain from competitive devaluation. Secretary Lew underscored that the upcoming visit by Chinese President Xi Jinping to Washington later this month is an opportunity to make progress on issues vital to our economic relationship. ### https://www.treasury.gov/press-center/press-releases/Pages/jl0155.aspx 1/2 5/5/2020 Readout from a Treasury Spokesperson of Secretary Lew’s Meeting with Chinese Finance Minister Lou Jiwei at the G-20 in Ankara, Turkey https://www.treasury.gov/press-center/press-releases/Pages/jl0155.aspx 2/2
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