Chinese Commerce Minister Wang Wentao meets with US Commerce Secretary Gina Raimondo in Beijing on August 28, 2023. Photo:IC

The "rational, candid and constructive" talks between Chinese Commerce Minister Wang Wentao and US Commerce Secretary Gina Raimondo lasted nearly four and half hours on Monday, China Media Group reported on Tuesday. 

During the in-depth talks, the two sides announced plans to establish a new trade communication channel between them, including a working group consisting of Chinese and US officials and business representatives to seek solutions on specific trade issues, according to China's Ministry of Commerce (MOFCOM). 

The two ministers agreed to communicate regularly and meet at least once every year, read the MOFCOM statement. The two sides also launched a communication mechanism to discuss issues concerning export controls, and agreed to carry out technical consultations between experts teams from the two countries on enhancing the protection of trade secrets and confidential business information during administrative licensing procedures.  

The first exchange on the communication mechanism for export controls will be held on Tuesday in Beijing.

Raimondo is the fourth senior US official to visit China since June. She emphasized the importance of ensuring open communication between the two countries and took concrete steps to deliver on that goal, according to a statement by the US Department of Commerce. 

Raimondo noted the importance of maintaining stable economic ties between China and the US during the meeting with Wang, saying that the US seeks "healthy competition" and has no intention to hinder China's economic development. "We believe a strong Chinese economy is a good thing. We seek healthy competition with China. A growing Chinese economy that plays by the rules is in both of our interests," she said.

Global Times