(Yicai Global) Feb. 1 --The latest round of China-U.S. trade talks made important progress for the current stage, and the two sides had candid, specific and constructive discussions, the visiting Chinese delegation said here on Thursday.
Guided by the important consensus reached by the two countries' heads of state in Argentina, the two sides discussed the topics of trade balance, technology transfer, protection of intellectual property rights (IPR), non-tariff barriers, service sector, agriculture and enforcement mechanism, as well as certain issues of particular concern for the Chinese side.
The two-day talks in Washington, which started on Wednesday morning, were led by Chinese Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer, with the participation of dozens of senior officials from both governments.
Liu and Lighthizer held candid, specific and constructive discussions in particular on such topics of common concern as trade balance, technology transfer, IPR protection and enforcement mechanism, as well as certain issues of particular concern for the Chinese side, according to the Chinese delegation.
Important progress has been made for the current stage, and the two sides also determined the timetable and roadmap for next-step consultations. Both sides attach great importance to the issue of IPR protection and technology transfer, and have agreed to further enhance cooperation in this regard.
The Chinese delegation said that creating a market environment of fair competition goes in line with the general direction of China's reform and opening-up, and therefore the Chinese side will actively address relevant U.S. concerns.
The two sides have agreed to take effective measures to promote a more balanced development of bilateral trade. The Chinese side will make active efforts to expand imports from the United States in the sectors of agriculture, energy, manufacturing and services, which will help China's pursuit of high-quality economic development and meet the people's demand for a better life.
The two sides also discussed some specific concerns of the Chinese side, and the U.S. side said it would seriously address these concerns.
Both sides believe that it is very important to establish an effective two-way enforcement mechanism, so as to ensure all measures agreed upon through consultations will be implemented. They have reached consensus in principle on the framework and basic elements of the enforcement mechanism, and will continue to hammer out more details.
The world has been watching the China-U.S. trade talks closely, with many hoping for some substantial, positive progress to be made.
The talks marked a significant step in the implementation of the important consensus reached by Chinese President Xi Jinping and U.S. President Donald Trump during a working dinner in Buenos Aires, Argentina, on Dec. 1.
The two heads of state agreed back then that the two sides should try to reach a mutually beneficial and win-win agreement within 90 days to bring an early end to their months-long trade friction featuring massive tariffs on imports from each other.