U.S., China agree to work more closely in times of financial stress

The fifth Financial Working Group meeting concluded as trade tensions rise

20240819 N PBOC

Attendees at the latest Financial Working Group pose for a photo in Shanghai. (People's Bank of China)

PAK YIU, Nikkei staff writer

NEW YORK -- The U.S. and China agreed to strengthen financial stability and maintain open channels of communication and coordination in times of "financial stress," according to readouts from the fifth meeting of their Financial Working Group.

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