BEIJING: China and the United States have reached important consensus on economic and financial cooperation after in-depth consultations and discussions during US Treasury Secretary Janet Yellen's visit to China, China's Vice Finance Minister Liao Min said on Monday.

Deepening communication, coordination of economic, financial policies and promoting mutually beneficial cooperation between the world's two largest economies are of great significance in stabilizing the economy and finance of both sides and the whole world, as well as promoting post-pandemic recovery and development, Liao said in response to a media inquiry during a press briefing.

"China always adopts an open and positive attitude toward this," Liao said.

The two sides agreed to hold in-depth discussions on balancing the growth of the two countries and the global economy, and are willing to further strengthen economic exchanges and cooperation.

They also agreed to maintain communication on issues, such as debt handling of developing countries as well as the strategic reform of international financial institutions under multilateral channels, such as Group of 20, and advance cooperation on jointly addressing global challenges, according to Liao.

In the financial field, both sides agreed to carry out continuous exchanges and cooperation on issues including financial stability, sustainable finance, anti-money laundering and countering terrorist financing.

In the next stage, China is ready to work with the United States to translate the above consensus into practical cooperation outcomes under the China-US economic and financial working group.