US Treasury Secretary Janet Yellen. (Source: Reuters)

At the meeting in Beijing, Ms. Yellen said the two countries had an "obligation" to responsibly manage the complex relationship, citing the case of curbing excess factory capacity at the highest levels of the Chinese government.

“While we have much work to do, I believe that over the past year we have put our bilateral relationship on a more stable footing,” said Secretary Yellen. “This does not mean ignoring our differences or avoiding difficult conversations. It means that we can only make progress if we talk directly and openly with each other.”

As the world's two largest economies, we have an obligation to our countries and to the world to responsibly manage our complex relationship, and to cooperate and show leadership in addressing pressing global challenges.”

Ms. Yellen's visit to China lasted five days and took in Guangzhou, one of China's major export and industrial centers.

(according to Reuters)