US Treasury Secretary Janet Yellen confirmed, in a speech that she is supposed to deliver Thursday, and the text of it was published in advance, that the United States wants a "constructive and fair economic relationship" with China , while Washington adheres to its position in defending its national security.

The speech, which Yellen will deliver at Johns Hopkins University in Washington, comes as tensions remain high between the world's two largest economies.

Last month, China's new foreign minister, Qin Gang, accused Washington of fomenting tension between the two powers, warning of "conflict and confrontation".

However, Yellen affirmed the United States' adherence to its conviction represented in defending its values and national security. "In this context, we seek a constructive and fair economic relationship with China," she said.

She also stressed the need for countries to be able to "discuss difficult issues openly" and work together if possible.

Stressing that "correct economic competition" must be fair to be sustainable, Yellen said, "We will continue to partner with our allies in response to China's unfair economic practices."

It added that China had expanded its support for state-owned enterprises and domestic private companies in order to "dominate foreign competitors".