China-US Trade Dispute: Beijing announces China and US will resume talks

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The Chinese Commerce Ministry confirms Thursday that trade talks with the U.S. will resume based on equality and mutual respect. Beijing also urges Washington to implement its promise to remove Huawei from its Entity List. More now from CGTN reporter Wang Hui.

Another sign of progress between the world's two largest economies.

Chinese Commerce Ministry Spokesman Gao Feng says teams from China and the U.S. have maintained communication on the matter.

Gao confirmed that the trade talks will resume, but didn't specify when.

GAO FENG SPOKESMAN, CHINESE COMMERCE MINISTRY "They will follow the requirement of the consensus, based on equality and mutual-respect. China's core concerns must be well solved. We will definitely find solutions, through equal dialogue and taking care of each sides' reasonable concerns."

Top leaders from China and the U.S. met during the G20 summit in Japan. They agreed to resume the trade talks, which were paused for about 50-days prior to the summit. And chief negotiators from both sides talked by phone this Tuesday.

In line with the loosening tension, America's pressure on Chinese telecom giant Huawei, has also eased a little.

WANG HUI BEIJING "The U.S. Department of Commerce released a statement that it will issue licenses for American companies' deals with Huawei, where there is no threat to America's national security. But Huawei remains in the Entity List. What's your response?"

GAO FENG SPOKESMAN, CHINESE COMMERCE MINISTRY "We noticed that Huawei and other Chinese entities are still on the list. We urge the U.S. to implement its promise, and stop the wrong doing of using national power to suppress Chinese companies."

In late May, Beijing also announced that China will issue an Unreliable Entity List. Gao says that this entity list is currently in the works and will be issued soon.

But he stresses that this list only targets a few overseas companies, organizations and individuals which don't follow market rules and seriously violate Chinese companies' interests.

Most overseas enterprises are advised not to worry.

WANG HUI BEIJING "Gao says that China hasn't seen a large-scale withdrawal by overseas investors. China will not discriminate, nor suppress those investments. China will firmly protect their legitimate rights at home, and create a stable, fair, transparent and predictable business environment for them. WANG Hui, CGTN."