WASHINGTON (AP) - U.S. Treasury Secretary Jacob Lew will travel to China next week to meet with new leaders, a symbolic first trip abroad.
The Treasury Department says Lew will meet with officials in President Xi Jinping's administration on Tuesday and Wednesday. Jinping became president Thursday, part of a once-a-decade change in leadership.
Lew's choice of China for his first overseas' destination underscores the importance of the nations' economic relationship. China is the largest holder of U.S. Treasury debt, while the U.S. imports more from China than any other nation. At the same time, the Obama administration has expressed concerns about China undervaluing its currency to gain a trade advantage.
Treasury says Lew will discuss opportunities for U.S. workers and businesses and leveling the playing field between the world's two biggest economies.
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