BEIJING - The US-China relationship can only move forward with direct and open communication, US Treasury Secre¬tary Janet Yellen told Chinese Pre¬mier Li Qiang on Sunday, opening two days of high-level talks in Beijing. Yellen arrived in the Chinese capital from the southern city of Guangzhou on Saturday evening, after a series of meetings including hours of discus¬sions with her counterpart, Vice Pre¬mier He Lifeng. Both countries have since agreed to hold talks on balanced growth under an existing working group, allowing officials to discuss the key US concern of “overcapacity”. This refers to a situation where Chinese government support to in¬dustries fuels produc¬tion capacity but risks a surge of exports at depressed prices to the global market, under¬cutting international competitors. Washington is especially concerned about this phenomenon in new in¬dustries such as electric vehicles and solar energy. Yellen’s trip marks her second visit to China in less than a year. “While we have more to do, I believe that, over the past year, we have put our bilateral relationship on more stable footing,” she said in opening remarks to Premier Li. Rath¬er than ignoring differences, this has meant “understanding that we can only make progress if we directly and openly communicate with one anoth¬er”, the Treasury chief said.