U.S. and China Form Economy Working Groups in Sign of Better Ties

(Bloomberg) — The U.S. and China set up two working groups to discuss economic and financial issues, the latest sign of a thaw in relations between the world’s two largest economies.

The groups “will provide ongoing structured channels for frank and substantive discussions on economic and financial policy matters, as well as an exchange of information on macroeconomic and financial developments,” the U.S. Treasury Department said Friday in a statement.