Vice-Premier Liu He, who is also a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-US comprehensive economic dialogue, speaks at a press conference following the signing of the China-US phase-one economic and trade agreement in Washington D.C., the United States, Jan 15, 2020. (PHOTO / XINHUA)
WASHINGTON/BEIJING - Chinese President Xi Jinping has hailed the long-awaited phase-one trade deal signed by the United States and China at the White House on Thursday morning Beijing time as a pact that was good for China, the US and the world.
Maintaining healthy and steady growth of China-US relations serves the interest of both countries and requires joint efforts from both sides, Xi said in a message read out by Vice-Premier Liu He to US President Donald Trump
Speaking in Washington, Chinese Vice-Premier Liu He first conveyed the message of Chinese President Xi Jinping to Trump.
"It also shows that our two countries have the ability to act on the basis of equality and mutual respect, and work through dialogue and consultation to properly handle and effectively resolve relevant issues," according to the message read out by Liu.
In the next step, the two sides need to implement the agreement in real earnest and optimize its positive impact, so as to make even greater progress in China-US trade and economic cooperation, the Chinese president said in his message. Xi was also quoted as saying that maintaining healthy and steady growth of China-US relations serves the interest of both countries and requires joint efforts from both sides.
In that spirit, Xi voiced hope that the US side will treat fairly Chinese companies and their regular economic, trade and investment activities, and give support to the collaboration between enterprises, research institutes, and schools and colleges of the two countries, as it will help enhance mutual trust and cooperation between the two sides.
"China is prepared to work with the United States in that direction. And I will stay in close touch with you personally," Xi said in his message. "I believe that under our guidance, China-US relations will deliver more results and bring greater benefits to our peoples in the year ahead."
Liu said the China-US phase-one economic and trade agreement has considerably addressed the concerns of both sides.
Liu, also a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-US comprehensive economic dialogue, made the remarks during a briefing with some Chinese media outlets. He said the China-US economic and trade agreement bears both economic and political significance.
Vice-Premier Liu He said the deal has injected positive energy into the stability and development of the world economy
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The deal has injected positive energy into the stability and development of the world economy, he said.
China-US phase-one trade deal conforms to WTO rules, Liu told reporters, adding that the pact went beyond the economic realm as it also has a bearing on world peace and prosperity.
Liu stressed the agreement is not directed at nor will it affect the lawful rights and interests of any third party.
Liu said China will work with the US, adhering to the principle of equality and mutual respect to ensure proper implementation of their phase-one economic and trade agreement.
On a separate note, Liu said China will further deepen domestic reforms and open up wider to the outside world.
Liu pointed out that China's economy is transitioning from high-speed growth to high-quality development while a massive domestic market is taking shape.
China welcomes investors from around the world, including those from the United States, and will expand the import of quality products and services from countries around the world, he said.
He said China's gross domestic product is estimated to record an expansion of over 6 percent in 2019, and the January data also indicates a better-than-expected economic outlook.
US President Donald Trump and Chinese Vice-Premier Liu He, who is also a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-US comprehensive economic dialogue, show the signed China-US phase-one economic and trade agreement during a ceremony at the East Room of the White House in Washington D.C., the United States, Jan 15, 2020. (PHOTO / XINHUA)
For his part, Trump called the signing of the phase-one economic and trade agreement a milestone, and a boon to the United States, China and the whole world.
For his part, Trump called the signing of the phase-one economic and trade agreement a milestone, and a boon to the United States, China and the whole world
Describing China as a great nation, Trump also expressed his admiration for Xi's wisdom and leadership.
Relations between the United States and China are very important, said the US president, stressing that the two sides are working together closely in economy and trade, along with a wide range of other areas, which will help promote world peace and prosperity.
Trump also said he looks forward to another visit to China in the foreseeable future.
Approximately 300 people, including US officials, all members of the Chinese delegation and representatives from various US sectors, attended the signing ceremony.
The deal, agreed to in mid-December after a dozen rounds of negotiations led by Liu, China’s top trade negotiator, and US Trade Representative Robert Lighthizer, was finally closed at a ceremony in the East Room of the White House that was attended by leading US officials and about 200 representatives of business, government and diplomatic circles.
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The trade truce came 22 months after tensions flared between the world’s top two economies in March 2018. It is widely expected to reduce the uncertainties that have dampened the business investment mood in both countries and around the world.
With Xinhua inputs
