UPDATE 2 - US Treasury chief emphasizes communication, 'healthy economic competition' as she reaches China

ADDS STATEMENT OF JANET YELLEN; CHANGES HEADLINE, LEAD, DECK

By Esra Tekin and Riyaz ul Khaliq

ISTANBUL (AA) – US Treasury Secretary Janet Yellen on Thursday said the US seeks "healthy economic competition" and improved communication with China, as she reached Beijing on a four-day visit, her first in an official capacity.

“We seek a healthy economic competition that benefits American workers and firms and to collaborate on global challenges, we will take action to protect our national security when needed,” Yellen said on Twitter.

The US treasury chief reached the Chinese capital on a four-day official trip for crucial discussions as relations between the two economic superpowers remain fraught.

“This trip presents an opportunity to communicate and avoid miscommunication or misunderstanding,” said Yellen.

She added that President Joe Biden “charged his administration with deepening communication between our two countries on a range of issues, and I look forward to doing so during my visit.”

Yellen will engage in meetings with senior Chinese officials to address various bilateral concerns, as well as global challenges such as climate change, and debt issues in emerging markets and developing economies.

Relations between Washington and Beijing have soured in recent years over several issues including Taiwan, trade in tech sectors, and a suspected Chinese spy balloon over US territory.

Her visit comes after US Secretary of State Antony Blinken visited Beijing last month, where he also met Chinese President Xi Jinping.