Top U.S. Treasury Official Meets China Ambassador

(Bloomberg) — A top Treasury Department official met Friday with China’s new ambassador to the U.S., part of a series of tentative, recent steps to revive high-level engagement between their two countries following a contentious period.

The meeting between Jay Shambaugh, the Treasury’s undersecretary for international affairs, and Xie Feng “was candid, constructive, and part of ongoing efforts to maintain open lines of communication and responsibly manage our bilateral relationship,” the Treasury Department said in a brief statement.