U.S. President Donald Trump on Friday met with Chinese Vice Premier Liu He at the White House.

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-U.S. comprehensive economic dialogue, led the Chinese delegation for the new round of trade talks that concluded on Friday in Washington.

Liu first conveyed Chinese President Xi Jinping's message to President Trump. In his message, President Xi said the China and U.S. economic and trade negotiating teams have recently maintained communication and expressed goodwill toward each other, which has been welcomed by the people of both countries and the international community.

Xi said a sound handling of China-U.S. economic and trade relations is in the interest of China, the United States and world peace and prosperity. He said both sides should properly address each other's concerns based on equality and mutual respect in accordance with the principles and directions set by the two heads of state of the two countries, and push forward the sound and stable development of bilateral economic and trade relations.

Regarding the new round of trade consultations, Liu said the two negotiating teams conducted candid, efficient and constructive discussions on economic and trade issues of mutual concern in the fields of agriculture, intellectual property protection, exchange rate, financial services, expanding trade cooperation, technology transfer, dispute settlement among other things.

Substantial progress was made, and follow-up arrangements were discussed, said Liu.

A good economic and trade relationship is beneficial to China, the U.S., as well as world peace and prosperity, Liu stressed, adding that he hoped both sides will meet each other halfway in line with the principles reached between the heads of state of the two countries.

Trump thanked President Xi for the message, congratulated the People's Republic of China on its 70th founding anniversary and asked Liu to convey his cordial regards to President Xi. "I respect China very much as well as President Xi. He is a great leader," Trump said.

According to Trump, the relationship between the U.S. and China is developing strongly. "I am very happy to see that the U.S.-China economic and trade consultation has achieved substantial results in the first phase, which is a major positive news for the two countries and the world," he said.

It is hoped that the teams of both sides will work hard to finalize the text of the first phase of agreements as soon as possible and continue to push forward in follow-up consultations.

"The United States welcomes Chinese students to study in the U.S.," Trump added.

(Top image: Chinese Vice Premier Liu He shakes hands with U.S. President Donald Trump after holding trade negations at the White House, October 11, 2019. /VCG Photo)

More: China, U.S. achieve substantial progress in new round of trade talks in Washington