U.S. Treasury: Geithner will discuss deficits

An official in the US Treasury said Thursday Secretary Timothy Geithner will also discuss the Obama administration's efforts to deal with record U.S. budget deficits in talks with top Chinese officials.

File photo of a pedestrian walking past a billboard showing Chinese  yuan (top C), the Hong Kong dollar (R) and US dollar currency signs  in front of a building in Hong Kong. China is pumping more money  into US Treasury bonds, recent data show, despite concerns expressed  in Beijing in recent months over the safety of dollar-linked assets.

Geithner would stress to the Chinese that the administration was committed to bringing down the deficits once the country has emerged from the current recession and financial crisis. China is the largest foreign holder of U.S. Treasury securities.The US federal budget deficit is projected to hit an all-time high of $1.84 trillion this year.