U.S. Treasury Secretary Janet Yellen said Thursday the United States would resume economic talks with China "at an appropriate time" as Beijing continues to sell its vast stock of Treasurys and as Washington warns against possible sanctions violation in relation to Russia.
"I don't have a specific timeframe in mind for doing that," Yellen told CNBC's Tanvir Gill at a news conference ahead of a G-20 financial leaders meeting in Bengaluru, India.
"But I believe it's important to do so and I'm certainly open to having those conversations," she added.
Yellen said there are "many areas" where the U.S. and China need to work together to address global challenges, including food security, debt and climate change.
Good communication between the two countries is key for the macroeconomic and financial situations domestically and within the global economy more widely, Yellen said.
The Treasury Secretary met with the Vice Premier of the People's Republic of China, Liu He, on Jan. 18, to discuss economic policy — a meeting Yellen described as "constructive."
U.S. President Joe Biden and Chinese President Xi Jinping both called for more cooperation when they met virtually in November.
Yellen's comments come ahead of an expected meeting between President Xi and Russian President Vladimir Putin this spring as Russia looks to deepen its ties with China.
According to Refinitiv data, China's hoard of U.S. government bonds stood at $862.3 billion, which was the lowest level since May 2010. Over the course of 2022, Beijing's holdings reportedly shrank by $173.85 billion.