US Treasury Secretary Janet Yellen has held talks with Chinese Vice Premier He Lifeng. The two sides have been at odds over their policies, including how to promote the electric vehicle industry.

The meeting took place on Friday in the southern Chinese city of Guangzhou.

Vice Premier He, who oversees China's monetary and economic policies, said the main purpose was to promote the development of stable, healthy and sustainable bilateral economic relations.

Yellen said the US seeks a healthy economic relationship that "benefits both sides." And she called for a "level playing field" for companies and workers in both countries.

She is believed to have told the Chinese side that Beijing's massive subsidies for electric vehicles and other items have led to overproduction, which will adversely affect the global economy.

Beijing recently filed a complaint against Washington with the World Trade Organization, saying US preferential tax treatment for EVs and other products is distorting fair competition.