Full coverage: 8th China-U.S. S&ED & 7th CPE

Vice Premier Wang Yang said upon the conclusion of the 8th Strategic and Economic Dialogue that China will fully consider the impact of normalizing its monetary policy on international markets. Wang also said China will appoint one U.S. bank and one Chinese bank to act as clearing banks for yuan businesses in America.

China and the U.S. have also agreed to push forward IMF reforms to increase quotas for emerging economies. Meanwhile, U.S. Treasury Secretary Jacob Lew said China committed in bilateral talks to continue exchange rate reforms and reduce overcapacities, but no agreement was reached on Chinese steel production.