US and China plan talks on economic growth

US Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng arrive for a bilateral meeting at the Guangdong Zhudao Guest House in southern China’s Guangdong province on Saturday (Andy Wong/AP)

The US and China have agreed to hold talks that will address a key American complaint about China’s economic model, US treasury secretary Janet Yellen said on the second day of an official visit to China.

The two sides will hold “intensive exchanges” on more balanced economic growth, according to a US statement issued after Ms Yellen and Chinese vice premier He Lifeng held extended meetings over two days in the southern city of Guangzhou.