(Bloomberg) -- US Treasury Secretary Janet Yellen will this week travel to China for the second time in nine months, aiming to press her counterparts on a build-up of industrial overcapacity that poses threats to the rest of the world’s economies.

Yellen will spend two days in the southern commercial and manufacturing hub of Guangzhou beginning April 5 before heading to Beijing for two more days of talks, the Treasury announced Tuesday. 

She’s scheduled to meet China’s economic policy czar, Vice Premier He Lifeng, along with his predecessor Liu He, who analysts say retains influence. Yellen will also meet with People’s Bank of China Governor Pan Gongsheng and Finance Minister Lan Fo’an.

Bilateral ties have been steadily rekindled since Presidents Joe Biden and Xi Jinping met in person in November. Biden and Xi re-connected by phone Tuesday in their first one-on-one communication since that meeting. Yellen’s department last year set up two separate working groups with Chinese counterparts to discuss economic and financial issues.

Bilateral re-engagement has hardly resolved deep differences. Just a week before her trip, Yellen slammed China’s use of subsidies to give its manufacturers in key new industries a competitive advantage. During a visit to a solar-cell manufacturing facility in Georgia that had been shut down thanks to cheap imports from China, she warned that Chinese over-investment and excess capacity was distorting the global economy.

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“Secretary Yellen will advocate for American workers and businesses to ensure they are treated fairly, including by pressing Chinese counterparts on unfair trade practices and underscoring the global economic consequences of Chinese industrial overcapacity,” the Treasury said in a statement.

Yellen will likely get pushback over the Biden administration’s own efforts to finance a renaissance in American manufacturing, particularly in semiconductors and green energy, through government support. China last month filed a case with the World Trade Organization over electric-vehicle subsidies.

Other topics likely to be high on the agenda include China’s reluctance to help speed debt restructuring for poor countries, joint efforts to combat money laundering and financial stability. The Treasury delegation may raise the issue of cracking down on financial flows behind the fentanyl trade, according to a person involved with the planning for the talks.

The US delegation will be keen to hear their counterparts explain how China can deliver on the government’s 5% growth target for this year, and how they’re handling an ongoing slump in the country’s property sector, a senior Treasury official told reporters Monday.

While in Guangzhou, Yellen will meet with Wang Weizhong, governor of the province Guangdong — China’s biggest exporter and one of its wealthiest. She will also give a speech at an event hosted by the American Chamber of Commerce in China.

In Beijing April 7-8, the Treasury chief will also attend a gathering with students and professors at Peking University. 

--With assistance from Viktoria Dendrinou.

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