China and US Upgrade 100-Day Cooperation Plan for Inaugural Economic Dialogue
Feng Difan
/SOURCE : Yicai
China and US Upgrade 100-Day Cooperation Plan for Inaugural Economic Dialogue

(Yicai Global) July 10 -- Chinese President Xi Jinping met with the US President Donald Trump at the closing of G20 Hamburg Summit on July 8.

The two heads of state agreed to maintain close high-level communications and boost strategic mutual trust.

The world also watched the first round of full economic dialogue is to be held on July 19 in consultation between China and the US.

In line with their consensus reached during their April meeting at Mar-a-Lago in the US state of Florida, new progress has been made involving exchanges and cooperation in all fields, promoted by working groups of the two sides, Xi noted. Looking forward, the two parties will, on the strength of joint efforts, bear in mind the general direction of China-US relations, expand pragmatic cooperation in all fields and enhance coordination in dealing with regional and global issues in the spirit of mutual respect and benefit in a bid to drive the China-US relationship forward in a sound and stable manner.

President Trump waxed ecstatic at establishing good working ties with President Xi. Current US-China relations are on a very good track. China is an important trade partner of the US, as well as an influential country in international affairs. The US would like to engage in more dialogs and mutually-beneficial cooperation in various China-related sectors, and maintain communications and coordination with major regional and global issues, he said.

The two heads of state agreed to advance the 100-day plan for China-US economic cooperation under the framework of the China-US comprehensive dialogue mechanism, to seek to steer China-US relations onto a sound and stable path.

Jointly promoting the US-China Comprehensive Economic Dialogue, Wang Yang, China's vice prime minister and co-chief of the Chinese side on the one hand, and US Treasury Secretary Steven Mnuchin and Commerce Secretary Wilbur Ross second-in-command of the US contingent on the other, talked in May. They identified matters slated for achievement during the first 100 days and those already achieved by that time. The talks also stressed the need to further enhance exchanges and coordination and jointly push ahead with matters requiring progress as soon as possible. The US commerce department posted a laconic statement on its official website which reads, "… U.S. Commerce Secretary Wilbur Ross and U.S. Treasury Secretary Steven T. Mnuchin held a phone conversation with Vice Premier Wang Yang of China. Commerce Secretary Ross, Treasury Secretary Mnuchin and Vice Premier Wang discussed bilateral issues related to the U.S.- China Comprehensive Dialogue and the overall economic and trade relationship between the two countries.

The two sides also agreed to prepare to discuss the one-year plan for US-China economic cooperation based on tangible results from the current 100-day plan, which aims to further reinforce moves to propel economic exchanges and cooperation. On top of the 100-day plan, the two countries look forward to conducting in-depth exchanges on the above and other topics at the inaugural US-China Comprehensive Economic Dialogue scheduled for the US this summer.

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Keywords: US , Trade