Fintech News & Trends in Hong Kong and Asia

China, US pledge efforts to solve economic, trade problems

BEIJING – China and the United States have started normal communications in the fields of economy and trade, agreeing to make joint efforts to solve some specific problems in a practical way, the Ministry of Commerce (MOC) said Thursday.

Commenting on the recent video talks between Chinese and US officials, MOC spokesperson Gao Feng said communications between the two sides had a "smooth start".

Both sides agreed that China-US economic and trade relations are very important, with many specific fields for cooperation, Gao Feng, spokesperson for the Ministry of Commerce, said

Chinese Vice-Premier Liu He, a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-US comprehensive economic dialogue, held video conversations with US Trade Representative Katherine Tai on May 27 and with US Treasury Secretary Janet Yellen on June 2. 

ALSO READ: Experts: Trade ties key to Sino-US relations

The two sides, based on equality and mutual respect, exchanged views on issues including bilateral trade and economic ties, macro situations and domestic policies, Gao said.

"The two sides agreed that the conversations were professional, frank and constructive. China and the United States have started normal communications in the fields of economy and trade," said Gao.

Both sides, with a consensus on seeking common ground while putting aside differences, agreed that China-US economic and trade relations are very important, with many specific fields for cooperation, Gao said.

READ MORE: China, US agree to maintain communication on trade

The two countries both raised their respective issues of concern. The Chinese side raised its specific concerns with full consideration of the background and situation of its domestic economic development, he added.

Going forward, with a view to benefiting the two countries and the whole world, the two sides have agreed to make joint efforts to solve some specific problems for producers and consumers in a practical way and promote the healthy and stable development of bilateral economic and trade relations, Gao stressed.