CCTV news: On May 14, the heads of state of China and the United States met and announced that the Sino-US economic and trade team had achieved overall balanced and positive results.

In this regard, the spokesperson of the Ministry of Commerce stated on May 16 that the heads of state of China and the United States met in Beijing to discuss economic and trade issues in depth, further charting the course and providing strategic guidance for the development of economic and trade relations between the two countries. President Xi Jinping pointed out that the essence of Sino-US economic and trade relations is mutual benefit and win-win. The economic and trade teams of the two countries have achieved overall balanced and positive results, which is good news for the people of both countries and the world. Both sides should work together to maintain the current hard-won good momentum.

On May 13, the Sino-US economic and trade teams held economic and trade consultations in South Korea and made economic and trade preparations for the meeting between the two heads of state. During the consultation, the two sides followed the important consensus reached by the heads of state as a guide, adhered to the principles of mutual respect, peaceful coexistence, and win-win cooperation, and conducted candid, in-depth, and constructive exchanges and consultations on resolving economic and trade issues of mutual concern and further expanding practical cooperation. Since then, the two sides conducted intensive consultations on the specific content of the outcome and reached a positive consensus.

At present, the preliminary results reached by the two sides in the economic and trade field mainly include the following aspects:

First, the two sides continue to implement the results of early consultations and form a positive consensus on relevant tariff arrangements.

Second, the two sides agreed to establish a trade council and an investment council to discuss their respective concerns in the field of trade and investment. The two sides will discuss issues such as product tax reduction through the Trade Council, and agree in principle to reduce taxes on products of equal scale that they are concerned about.

Third, the two sides will resolve or substantially promote the resolution of non-tariff barriers and market access issues for some agricultural products. The United States will actively promote the resolution of China's long-term concerns on the automatic detention of dairy and aquatic products, the export of medium bonsai to the United States, and the identification of Shandong avian influenza-free areas. China will also actively promote the resolution of concerns regarding the registration of US beef facilities and the export of poultry meat from some states to China.

Fourth, the two sides agreed to promote the expansion of two-way trade in areas including agricultural products through arrangements such as mutual tax reductions for a certain range of products.

Fifth, the two sides reached relevant arrangements for China's purchase of aircraft from the United States and the United States' guarantee of the supply of aircraft engines and parts to China, and agreed to continue to promote cooperation in related fields.

The positive results achieved in China-US economic and trade consultations demonstrate that both sides uphold the spirit of mutual respect, equality and reciprocity and can find solutions to problems through dialogue and cooperation. The two sides are still negotiating on the details of the outcome. The economic and trade teams of both sides will follow the consensus direction set by the two heads of state, lock in the results as soon as possible, and jointly implement them to inject more certainty and stability into the next step of Sino-US economic and trade cooperation and the world economy.