China´s Finance Ministry called for sanity and stressed that no one stands to gain from a trade war between the world’s two major economic powers.

It called on the U.S. to create a favorable setting for a healthy economic-trade relationship development and to encourage mutually beneficial collaboration with concrete actions.

The Ministry issued its statement as a preamble to the meetings to be held by Yellen and several Chinese leaders from Friday and Sunday.

Yellen arrived in China on Thursday with the aim to stabilize economic-trade relations at a time of tensions between the two countries.

pll/jha/ymr