US Treasury Secretary Jacob Lew will visit China next week to conduct economic discussions with policymakers on US-China economic relationship, US Treasury Department announced on Thursday.

Lew will visit Beijing on March 19-20, the department said in a statement.

He will have meetings with "China's new leadership and senior economic officials to discuss the bilateral relationship and opportunities for cooperation and growth," noted the short statement.

In addition, Lew will meet with US business leaders during his visit.

Jacob Lew, the former White House Chief of Staff, was selected by US President Barack Obama as the new Treasury Secretary succeeding Timothy Geithner. The nomination was confirmed by US Senate last month.