Xi-Trump Consensus Guides Talks

China and the United States finished their latest round of high-level economic and trade talks on February 24 with significant progress made on specific issues in areas such as technology transfer， protection of intellectual property rights and non-tariff barriers. An article published in Peoples Daily shed light on the significance of the mutually beneficial breakthroughs. The following is an edited excerpt of the piece：

Chinese and U.S. negotiators wrapped up the seventh round of trade talks between the worlds top two economies on February 24 with substantial headway on several issues.

The Chinese team is headed by Liu He， special envoy of President Xi Jinping and member of the Political Bureau of the Communist Party of China Central Committee and Vice Premier of the State Council. The U.S. team is led by Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

During the latest talks， which took place in Washington D.C.， the important consensus reached by Xi and U.S. President Donald Trump during their December meeting in Argentina was further implemented. They focused their talks on the text of an agreement and achieved practical advancements on a series of issues.

Such results showed positive signs from both China and the U.S. toward properly handling their trade friction， and laid more of a foundation for a fi nal agreement.

Three rounds of high-level economic and trade talks have been held in less than a month. During the latest round， the two sides decided to extend the talks by two days for the fi rst time. Both the frequency of the talks and the expanding consensus between them indicate the importance of the meeting between Xi and Trump in Argentina.

During the preceding round of talks which were held in Beijing， Xi met with the U.S. team， pointing the next consultation in the direction of the long-term perspective of China-U.S. relations， receiving high praise from the international community. The latest round of talks again met peoples expectations of moving toward a China-U.S. agreement that aims at both win-win results and common worldwide development.

The consultations and talks between China and the U.S. have experienced ups and downs since the trade friction between the two countries began last year. However， China has always adhered to the principles of mutual respect， equality and mutual benefi t. Starting from the big picture of the common interests of both countries and the world trade order， China has actively participated in dialogues and consultations， responding to the concerns of the U.S. with the greatest patience and seeking the maximum common denominator between the interests of both sides.

The consensuses reached after seven rounds of talks indicate the common concerns of China and the U.S.， conform to the general direction of Chinas reform and opening up in an objective manner， and will help China realize high-quality economic development and fulfi ll peoples ever-grow- ing needs for a better life.

China-U.S. trade and economic cooperation is formed and promoted by the market. In the current situation and in the future， intertwined interests are always the fundamentals of China-U.S. trade and economic relations， with win-win cooperation as the essence. This has shown that cooperation is the best choice for China and the United States.

According to Goldman Sachs statistics， a great batch of U.S. enterprises， including Skyworks Solutions， Qualcomm and Micron Technology， are highly dependent on the Chinese market. Despite the fact that there has not been a resolution to the trade friction， more and more U.S. companies are joining the increasingly expanding Chinese market. U.S. investment in China was up by 124.6 percent in January alone.

China solemnly declares that it is willing to resolve the trade friction through cooperation and reach an agreement that is acceptable to both. It is the rational choice for stabilizing cooperation between the two countries and protecting the practical interests of both peoples.

As the China-U.S. economic and trade talks continue to make progress， the markets of the two countries， as well as of the world， have witnessed visible changes. A recent report by The Wall Street Journal said market confidence has been boosted by the hope of China and the U.S. reaching a trade agreement. The Financial Times also pointed out that investors were waiting for a breakthrough in the trade talks between Washington and Beijing.

The Consumer News and Business Channel gave a more vivid description， saying that after a year of trade friction， the market was exhausted and was desperately longing to get rid of the issue. Such public opinions from the international community indicate that a solution to China-U.S. trade friction will be benefi cial to the global economy which needs to be injected with stability.

To deepen reform and expand opening up is an unswerving strategic choice made independently by China that will not be changed by any individual cases. China has the ability and conditions to take challenges calmly and promote reform and development through opening up in order to drive the economy toward high quality.

Facts prove that the increasing vital- ity and resilience of the Chinese economy came from wisdom， courage， practice and persistence. No matter how the situation develops， China will take care of its own business according to its own plan， benefi tting its people and the world by making new progress.

People have reason to believe that under the guidance of the consensus reached by the presidents of China and the U.S.， the two countries will make solid progress in future consultations， promote long-term and stable development of China-U.S. economic and trade relations， and play a positive role in enhancing benefi ts for the two peoples and promoting the steady growth of the world economy.