Janet Yellen meets with China’s central bank chief, presses case on excess capacity

News Snapshot:

BEIJING – US Treasury Secretary Janet Yellen is set to wrap up four days of meetings in China with a visit to the central bank as she presses her case for Chinese leaders to rein in excess industrial capacity and boost domestic demand. Dr Yellen, who is on her second trip to China in nine months to further ease strained ties between the world’s two largest economies, has voiced concerns about China’s fast-growing exports of electric vehicles, batteries, solar panels and other green-energy goods. She has argued that Chinese state support has led to production capacity that far exceeds domestic...