China and the United States hold economic and trade consultations in Kuala Lumpur, Malaysia

Kuala Lumpur, October 26th (Xinhua) -- From October 25th to 26th local time, Chinese Vice Premier He Lifeng, the leader of China US economic and trade cooperation, held China US economic and trade consultations with US Treasury Secretary Besant and Trade Representative Greer in Kuala Lumpur, Malaysia. Guided by the important consensus reached in the previous phone calls between the two heads of state since the beginning of this year, the two sides have engaged in frank, in-depth, and constructive exchanges and consultations on important economic and trade issues of mutual concern, such as the US 301 measures on maritime logistics and shipbuilding to China, the extension of the equivalent tariff suspension period, fentanyl tariffs and law enforcement cooperation, agricultural product trade, and export controls. Basic consensus has been reached on arrangements to address each other's concerns. Both parties agree to further determine specific details and follow their respective domestic approval procedures.

He Lifeng stated that the essence of China US economic and trade relations is mutual benefit and win-win. If both sides cooperate, they benefit; if they fight, they both suffer. Maintaining the stable development of China US economic and trade relations is in line with the fundamental interests of both countries and their peoples, as well as the expectations of the international community. For the differences and frictions that arise in economic and trade cooperation, both sides should adhere to the principles of mutual respect, peaceful coexistence, and win-win cooperation, and find appropriate solutions to each other's concerns through equal dialogue and consultation. The results of the China US economic and trade consultations are hard won and need to be jointly maintained by both sides. We hope that the US and China will work together to implement the important consensus reached in the previous phone calls between the two heads of state and the results of economic and trade consultations since the beginning of this year, further accumulate mutual trust, manage differences, expand mutually beneficial cooperation, and promote bilateral economic and trade relations to a higher level.

The US side stated that the US China economic and trade relationship is the most influential bilateral relationship in the world. The US side is willing to resolve differences and strengthen cooperation with China through equality and respect, and achieve common development.

Both sides agree to fully leverage the role of the China US economic and trade consultation mechanism under the strategic guidance of the two heads of state, maintain close communication on their respective concerns in the economic and trade fields, promote the healthy, stable, and sustainable development of China US economic and trade relations, benefit the people of both countries, and promote world prosperity.