The China-US economic working group held its seventh meeting in Johannesburg, South Africa, China’s Ministry of Finance said. The meeting, co-chaired by China’s Vice-Minister of Finance Liao Min and U.S. Treasury Under Secretary Jay Shambaugh, featured what Beijing described as “candid, in-depth, and constructive” talks. According to a MOF statement, both sides discussed macroeconomic conditions, joint efforts to assist low-income countries in addressing liquidity pressures, and reform of multilateral development banks. China clarified its position on various economic and trade issues and raised concerns over recent U.S. trade restrictions against Chinese firms, the statement said. The talks reflect ongoing attempts by the world’s two largest economies to maintain communication despite heightened tensions and mutual trade measures.