U.S., China Highlight Moves on Yuan, Investment Pact

The U.S. and China completed talks by highlighting pledges on the yuan’s exchange rate and progress on a bilateral investment pact, as officials sought common ground amid cyberspying and maritime tensions.

China committed to reduce currency intervention as conditions allow, according to a joint statement yesterday after the two-day Strategic and Economic Dialogue in Beijing, a move U.S. Treasury Secretary Jacob J. Lew called a “big change.” Lew and Chinese Vice Finance Minister Zhu Guangyao cited significant progress toward the investment treaty.