This undated photo shows Liu He, the director of the General Office of the Central Leading Group on Financial and Economic Affairs. Liu have discussed the China-US economic and trade cooperation and other important issues of mutual concern with top US officials during a bilateral Comprehensive Economic Dialogue in Washington. (PHOTO / BLOOMBERG)

WASHINGTON – A visiting senior Chinese official and his US hosts have agreed that the two countries should settle their trade disputes by cooperation rather than confrontation to secure a healthy development of economic and trade ties.

The two sides also agreed to talk about related issues in Beijing in the near future in a bid to create conditions for further cooperation.

China will advance its comprehensive reform and opening up 

Liu He, Director, General Office of the Central Leading Group for Financial and Economic Affairs

Liu He, a member of the Political Bureau of the Communist Party of China Central Committee who led the Chinese side in the bilateral Comprehensive Economic Dialogue, arrived in the Unites States at the invitation of the US government on Feb 27 and stayed till March 3.

During his visit, Liu discussed the China-US economic and trade cooperation, as well as other important issues of mutual concern with US Treasury Secretary Steven Mnuchin, White House National Economic Council Director Gary Cohn, and US Trade Representative Robert Lighthizer.

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During the consultations, Liu, director of the General Office of the Central Leading Group for Financial and Economic Affairs, said that Chinese President Xi Jinping and his US counterpart Donald Trump have charted the course of Beijing-Washington ties in their close communications this year through telephone calls and exchanges of letters.

The two countries should work together to implement the consensus of the two leaders, expand pragmatic cooperation in economic and trade exchanges, jointly push for the settlement of the pressing issues, promote balanced development of the China-US economic and trade relationships so as to bring more benefits to the two peoples, said Liu.

China will advance its comprehensive reform and opening up, he said.

He also said that the two countries have complementary economic advantages and huge potentials for cooperation, adding that stable economic and trade ties between them conform to the fundamental interests of the two countries and help global prosperity.

In the consultations with the US side, Liu also delivered China's principled stand on trade balance and market access.

The two sides believed that the consultations in Liu's visit were helpful for both nations to deepen mutual understanding and promote cooperation.

During his visit, Liu also exchanged views with US business leaders and famous experts and scholars, and held meetings with leaders of international organizations.