U.S. Treasury Secretary Janet Yellen called on Friday for market reforms in China and criticized the world's second-largest economy for its recent tough actions against U.S. companies and new export controls on some critical minerals.

Yellen arrived in Beijing on Thursday to try to repair fractious U.S.-Chinese relations, but made clear in her public remarks that Washington and its Western allies will continue to hit back at what she called China's "unfair economic practices."

Despite talk of U.S.-China economic decoupling, recent data show a trade relationship that is fundamentally solid, with two-way trade hitting a record $690 billion last year.

"We seek healthy economic competition that is not winner-take-all but that, with a fair set of rules, can benefit both countries over time," Yellen told Chinese Premier Li Qiang in a meeting on Friday that the Treasury said was "candid and constructive."