China, US hold 2nd vice ministerial-level call on trade, Latest Business News - The New Paper

China, US hold 2nd vice ministerial-level call on trade

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BEIJING: China and the US held a vice-ministerial-level call on Friday, the second such contact in a week, achieving a "deep exchange of views" on trade imbalances and the protection of intellectual property, the Chinese Ministry of Commerce said.

A statement posted on the ministry's website yesterday said the two countries "made new progress" on those issues, without specifying further.

It also said China and the US discussed arrangements for the next call and mutual visits.

On Wednesday, the ministry said Beijing and Washington had held a vice-ministerial-level telephone call about trade and economic issues, without providing other details.

The calls took place amid signs of a thaw in a trade dispute between the US and China, the world's two largest economies.

US President Donald Trump and Chinese President Xi Jinping this month agreed to a truce that delayed the planned Jan 1 US increase of tariffs on US$200 billion (S$275 billion) worth of Chinese goods while they negotiate a trade deal.

Chinese Commerce Ministry officials indicated earlier the two countries were in close contact over trade, and any US trade delegation would be welcome to visit.

Ina separate development, the head of China's top economic planning agency said it would roll out more supportive measures to boost the economy especially in the advanced manufacturing sector, state media reported on Saturday.

China will vigorously support the private sector and resolve the financing difficulties of private firms, the official Xinhua news agency quoted National Development and Reform Commission chairman He Lifeng as saying at a year-end conference. - REUTERS