China, US Agree to Economic Consultation Mechanism After Geneva Talks

China and the United States held high-level economic and trade talks in Geneva, Switzerland, from May 10 to 11. The talks were described as candid, in-depth, and constructive, resulting in important consensus and substantive progress. The Chinese co-lead of the economic and trade talks and Vice Premier of the State Council, He Lifeng, highlighted the significance of the meeting, noting that it received high attention from the international community. The talks were seen as a crucial step towards resolving differences through dialogue and consultation on an equal footing, laying the foundation for further bridging differences and deepening cooperation.

Both sides agreed to establish a China-US economic and trade consultation mechanism. This mechanism is expected to facilitate ongoing dialogue and cooperation between the two nations. The details of this mechanism are to be finalized promptly, with a joint statement on the talks scheduled to be issued on May 12. He Lifeng emphasized that the China-US economic and trade relationship is not only significant for both countries but also has an important impact on global economic stability and development.

China expressed its willingness to work with the US to implement the important consensus reached during the January 17 phone call between the two heads of state. This includes adopting a pragmatic attitude to problem-solving, engaging in candid dialogue, conducting equal negotiations, managing differences, tapping the potential for cooperation, expanding the cooperation agenda, and enlarging the cooperation cake. These efforts are aimed at promoting new developments in China-US economic and trade relations and injecting more certainty and stability into the world economy.