China-US Trade: Experts: Both sides working to ensure productive talks
Updated 21:52, 29-Jul-2019
Top negotiators from China and the United States will meet in Shanghai on Tuesday and Wednesday for the first time since President Xi Jinping and his US counterpart Donald Trump agreed in June to resume economic and trade consultations. Experts say both sides are working to ensure a new round of productive talks. CGTN's Hou Na explains.
The meetings scheduled this week will be the first face-to-face discussions between the two sides since their top leaders met at the G20 summit in Japan last month.
Analysts said that holding the talks in Shanghai, the country's financial hub, will enable the US to better understand China's determination to open up further. Previously, the trade talks in China took place in Beijing.
LI YONG, DEPUTY DIRECTOR EXPERT COMMITTEE, CHINA ASSOCIATION OF INTERNATIONAL TRADE (CAIT) "The recent Chinese purchase of U.S. agricultural products sends a positive signal and paved the way for trade talks in Shanghai."
According to China's Development and Reform Commission and the Ministry of Commerce on Sunday, several million tons of soybeans have already been loaded and will soon be on their way to China.
Meanwhile, the US has already exempted extra duties on 110 items of industrial products from China.
Earlier this month, some Chinese enterprises have consulted with US suppliers over the prices of cotton, pork and sorghum.
Agreements have been reached on some products, and also on the exemptions of extra duties on US imports.
YU LU, DEPUTY DIRECTOR CHINA CHAMBER OF COMMERCE OF IMPORT & EXPORT OF FOODSTUFFS "There is huge demand in Chinese agricultural products market. Our import is growing year-by-year, the U.S. side can only benefit by cooperating with China."
HOU NA BEIJING "Experts say that Chinese enterprises will continue to purchase US agricultural products in accordance with its needs. And sources from both ministries said that new deals on imports of US agricultural products will be reached as long as prices are reasonable and the products of good quality. China hopes that the US can come up with more concrete measures to ensure a good atmosphere and positive outcome for the trade talks. HOU NA, CGTN, BEIJING."