Chinese vice-premier urges trust and cooperation as trade talks conclude

China's Vice-Premier He Lifeng stressed the need for Beijing and Washington to build mutual trust, manage differences, expand mutually beneficial cooperation, and elevate bilateral economic and trade relations to new heights as officials from the world's two largest economies wrapped up two days of talks in Kuala Lumpur on Sunday.

Leading a delegation to the fifth round of talks since May, He urged both sides to jointly safeguard the "hard-won outcomes" achieved through months of consultations.

He said the essence of China–US economic and trade relations is mutual benefit and win-win cooperation, adding that cooperation benefits both sides while confrontation harms both.

Maintaining the stable development of China–US economic and trade relations serves the fundamental interests of both countries and their peoples, as well as the expectations of the international community, he pointed out.

The two sides held in-depth discussions on key economic and trade issues of mutual concern, including Washington's Section 301 probe into Chinese shipping and shipbuilding industries, the extension of the tariff truce that is set to expire on Nov 10, fentanyl-related tariffs and counternarcotics law enforcement cooperation, agricultural trade, and export controls.

The talks were "candid, in-depth and constructive", and the two sides reached a basic consensus on arrangements to address each other's concerns and agreed to further finalize specific details and complete respective domestic approval procedures, according to a Chinese readout.