China says U.S. trade talks progress "well received".

China and the United States have imposed tit-for-tat tariffs on hundreds of billions of dollars worth of each others` goods, and the talks are aimed at de-escalating a conflict that has roiled financial markets, disrupted manufacturing supply chains and shrunk U.S. farm exports.
China says U.S. trade talks progress "well received".
The two countries`s history, culture, social system and development stage certainly have many differences. Photo: Reuters

The "substantive progress" China and the United States have made in their trade talks has been "well-received" in both countries and around the world, a senior Chinese official said on Monday, maintaning Beijing`s previous upbeat assessment of discussions.

"History shows cooperation is the best choice for the world`s two largest economies," Zhang Yesui, a former Chinese ambassador in Washington and now spokesman for China`s largely rubber-stamp parliament, told a news briefing.

China and the United States have imposed tit-for-tat tariffs on hundreds of billions of dollars worth of each others` goods, and the talks are aimed at de-escalating a conflict that has roiled financial markets, disrupted manufacturing supply chains and shrunk U.S. farm exports.

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"So far they have achieved substantive progress on many issues of mutual interest," Zhang said ahead of parliament`s opening on Tuesday.

"Economic and trade tries between China and the United States are mutually beneficial, win-win by the nature, and we hope that both sides can continue to step up consultations, to reach a mutually-beneficial, win-win agreement."

Zhang`s remarks echoed comments made late last month by the Chinese`s government`s top diplomat.

Zhang noted that aside fronm the trade dispute, the two countries also regularly clash over issues like human rights, the disputed South China Sea and self-ruled Taiwan, which China claims as its own.

While China will defend its sovereignty, security and development interests, it is also dedicated to having a relationship with the United States based on mutual respect and non-confrontation, he said.

"The two countries`s history, culture, social system and development stage certainly have many differences," Zhang said.

"It`s totally normal to have differences and disputes, but this does not inevitably lead to antagonism or confrontation."

It is in neither country`s interests to clash or have confrontation, Zhang added.

"Using the old thinking of the Cold War to deal with new problems in the context of globalisation definitely won`t get you anywhere."