(Yicai Global) Feb. 25 -- China and the United States have achieved substantial progress on specific issues following their latest round of high-level economic and trade talks in Washington, the Chinese delegation said Sunday. 

During the Feb. 21-24 talks, the seventh round since February last  year, Chinese and U.S. negotiators further implemented the important  consensus reached by the presidents of the two countries during their  December meeting in Argentina, and focused their talks on the text of an  agreement.

The Chinese delegation said that substantial progress was made on  such specific issues as technology transfer, protection of intellectual  property rights, non-tariff barriers, service industry, agriculture and  exchange rates.

On the basis of the latest progress, the two sides will continue  their work for the next stage in accordance with the instructions of the  two countries' heads of state, added the Chinese delegation.

The Chinese team is headed by Vice Premier Liu He, who also came as  the special envoy of Chinese President Xi Jinping, and the U.S. team is  led by Trade Representative Robert Lighthizer and Treasury Secretary  Steven Mnuchin.