High-level meetings eye narrowing gap

In a sign of China-US high-level and working-level interactions being repaired, senior officials from China and the United States have embarked on intensive talks — one face-to-face meeting and another in virtual format — to seek greater common ground in foreign and financial affairs respectively.

Foreign Minister Wang Yi traveled to Washington on Thursday for a three-day visit at the invitation of US Secretary of State Antony Blinken.

During their meeting late on Thursday (local time), they had an in-depth exchange of views on bilateral relations and issues of common concern "in a constructive atmosphere", according to a statement from China's Foreign Ministry.

The two sides are also scheduled to have talks on Friday.

Prior to Thursday's meeting, Wang, who is also a member of the Political Bureau of the Communist Party of China Central Committee, said China and the US have disagreements but also share important interests, so they need to have "in-depth" and "comprehensive" dialogue to reduce misunderstanding and stabilize the relationship.

"China and the US are two major countries. We have disagreements; we have differences. At the same time, we also share important common interests, and we face challenges that we need to respond to together," Wang said before the meeting at the US State Department.

"Not only should we resume dialogue, the dialogue should be in-depth and comprehensive so that with dialogue we can increase mutual understanding, reduce misunderstanding and misjudgment, constantly seek to expand common ground and pursue cooperation that will benefit both sides," he said.

The veteran diplomat also noted that in China-US relations, from time to time there will be some "jarring voices", and when that happens, China treats this calmly.

"Because we think what is right and what is wrong is not determined by who has the stronger arm or a louder voice, but by seeing if one behaves in a way that is consistent with the provisions of the three China-US joint communiques, consistent with international law and the basic norms of international relations, and consistent with the development trend of the times," he said.

"We are confident that at the end of the day, facts will prove everything, and history will give its fair verdict," he added.

In response, Blinken said he agreed with what Wang said and he "very much" looked forward to "constructive" conversations spanning two days, according to a US State Department release.

Wu Xinbo, dean of Fudan University's Institute of International Studies, said Wang Yi's visit is "a continuation" of the recent revitalization of high-level interaction between Beijing and Washington." It is very important for both sides and the world to see strengthened contacts and stable relations maintained between China and the US," he said.

FINANCIAL TALKS

In another development, the People's Bank of China, the nation's central bank, said on Friday that Chinese and US officials had a "professional, pragmatic, candid and constructive" discussion on monetary and financial stability in both countries and other matters of concern at the first meeting of the China-US Financial Working Group.

Other matters discussed at the meeting — a video conference held on Wednesday — included financial regulation, sustainable finance, anti-money laundering, anti-terrorist financing and global financial governance, the central bank said in a statement on Friday.

Both sides agreed to maintain communication, the statement said, adding that the meeting was co-chaired by vice-ministerial level officials from the PBOC and the US Treasury Department.