China on Wednesday agreed to a new aviation deal with the US and offered limited concessions in financial services at the conclusion of top-level economic talks in Washington.

The financial sector opening will help foreign companies access China’s booming stock market, but fell short of the far-reaching liberalisation sought by Hank Paulson, US Treasury secretary. With no new commitments on the currency, the outcome did not satisfy China’s critics in Congress, who threatened to introduce new legislation targeting Beijing for alleged currency manipulation.