The China-U.S. economic and trade talks have reached an important consensus, and substantial progress has been made in the discussions.

On May 12, the high-level economic and trade talks between China and the United States were held in Geneva, Switzerland, from May 10 to 11. He Lifeng, the Chinese leader of China-US economic and trade and Vice Premier of the State Council, said at a press conference held by the Chinese delegation on the evening of the 11th local time that the high-level economic and trade talks between China and the United States were candid, in-depth and constructive, reached important consensus, and made substantial progress. The two sides agreed to establish a mechanism for economic and trade consultations between China and the United States. The U.S. and China will finalize the details as soon as possible and release a joint statement on May 12. He Lifeng said: Under the current situation, the talks have attracted great attention from the international community. Through the joint efforts of China and the United States, the talks were fruitful, an important step was taken to resolve differences through dialogue and consultation on an equal footing, and the foundation and conditions were laid for further bridging differences and deepening cooperation. He Lifeng said that China-US economic and trade relations are not only of great significance to the two countries, but also have an important impact on the stability and development of the global economy. China is ready to work with the US side to actively implement the important consensus reached in the phone call between the two heads of state on January 17 this year, and in a pragmatic manner to solve problems, engage in frank dialogue, consult on an equal footing, manage differences, tap the potential of cooperation, lengthen the list of cooperation, expand the cake of cooperation, promote new development of China-US economic and trade relations, and inject more certainty and stability into the world economy. (Xinhua News Agency)