China, U.S. Hold High-Level Economic Talks in Geneva, Reach Key Consensus
(Xinhua, Geneva, May 11)
Key Developments:
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Meeting Summary: Chinese Vice Premier He Lifeng, head of China’s economic and trade delegation, stated on the evening of May 11 (local time) that the China-U.S. high-level economic and trade talks held in Geneva from May 10-11 were "candid, in-depth, and constructive," achieving "major consensus and substantive progress." Both sides agreed to establish a permanent bilateral economic and trade consultation mechanism.
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Follow-Up Actions: A joint statement will be released on May 12, with details of the agreements to be finalized soon.
He Lifeng’s Key Remarks:
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Global Significance: "The talks are of great importance not only to China and the U.S. but also to global economic stability and development," He emphasized.
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Commitment to Dialogue: China stands ready to implement the consensus reached in President Xi Jinping’s January 17 phone call with President Biden, prioritizing "pragmatic problem-solving, equal dialogue, and managed differences."
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Cooperation Vision: Beijing aims to "expand cooperation areas, deepen synergies, and inject more certainty and stability into the global economy."
Strategic Context:
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The negotiations, described as a "critical step" toward bridging differences, reflect heightened international scrutiny amid escalating U.S.-China economic tensions.
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He reaffirmed China’s stance on "controlling disputes through dialogue" while underscoring the mutual benefits of economic ties.
Next Steps:
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Officials will finalize technical details by May 12, with the joint statement expected to outline concrete measures for bilateral trade and investment.
