Scott Bessent to meet Chinese counterpart ahead of Trump-Xi summit

He Lifeng: He Lifeng is a Vice Premier of China and a member of the Political Bureau of the Communist Party of China Central Committee, with oversight of economic planning, trade, and financial affairs. He participates in high-level consultations with US counterparts to address bilateral economic issues. In the context of this news, He Lifeng will meet with US Treasury Secretary Scott Bessent to prepare for discussions between President Trump and President Xi Jinping on topics including sanctions and trade cooperation. Scott Bessent: Scott Bessent serves as the United States Secretary of the Treasury, responsible for managing federal finances, economic policy, and international financial relations under President Trump. He recently testified before Congress on the state of the international financial system and highlighted efforts to strengthen American leadership in multilateral forums. In this news, Bessent is preparing to hold direct talks with his Chinese counterpart to advance bilateral economic dialogue ahead of the upcoming leaders' summit. Trade Relations: The two sides are using established economic and trade consultation mechanisms to strengthen communication and expand areas of cooperation. Summit Preparation: The weekend meeting serves as a key preparatory step for the Trump-Xi summit expected later in the month, focusing on economic and financial matters. Diplomatic Engagement: US and Chinese officials have maintained ongoing private discussions on sanctions and Iran's financial links to build toward the leaders' summit.