China-US Trade: Constructive trade talks prove good for China, US and world
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02:54
The head of China's trade delegation, Vice Premier Liu He, says increasing imports from the US and other parts of the world will support economic development. Speaking to the press in the US, Liu also praised the outcome of talks with American officials.
President Xi Jinping's special envoy, Vice Premier Liu, says measures being discussed would help both countries -- boosting China's economy while reducing the trade deficit.
LIU HE CHINESE VICE PREMIER "This round of talks have been pragmatic, fruitful and efficient. We reached many agreements. We agreed on mainly two areas. One is trade, the other is structural issues. We resolved some of our misunderstandings from the past. These meetings will not just help bilateral economic and trade relations but build overall ties. It's good for people in both countries. It's also sending a positive signal to the whole world."
Liu says China has a large middle-class and is fast-becoming the world's largest market. The country has been working to increase imports to meet domestic demand and support high-quality development. He also says China will enhance trade cooperation with the US in areas like energy, agriculture, healthcare, high-tech products and finance.
LIU HE CHINESE VICE PREMIER "The strongest demand from both the Chinese side and the US side is to stop the trade war, and stop imposing more tariffs on each other's products. This time, both sides pledged to stop the trade war and develop good relations, be it in trade or in investment. I think this is a major demand from both countries."
The world's second-largest economy plans to increase imports from the US and the rest of the world. The inaugural 2018 China international Import Expo in Shanghai in November is a major move.
LIU HE CHINESE VICE PREMIER "We are expanding our domestic market and increasing imports because we want to serve the needs of our people, our economy and our growth. Expanding the domestic market and furthering opening up will help our reform and growth. Speeding up reform and growth by means of opening up is a very important national strategy. It worked for China for the past 40 years, and we will continue down that path. Exporting to China or making China buy more -- one must make the Chinese consumers happy. If you are selling stuff the Chinese people are not interested in buying, no matter how hard you demand, it's just not going to work."
Liu says any future disagreements on trade must be handled with caution and calmness. WTX,CGTN.