Liu He says trade talks between China and U.S. are 'practical'

Updated 2018-05-21 08:59:04

Chinese Vice Premier Liu He, also head of China's trade delegation to the U.S., described the trade talks between the two countries as "practical" in an exclusive interview with CGTN.

Earlier, Liu used "constructive, positive and fruitful" to describe the trade talks.

"I'd like to add another word. It is very practical. We have reached lots of concrete consensus in terms of trade, concrete items of trade and also structural issues," Liu elaborated.

Liu also said that China will continue to expand the domestic market and further opening-up, calling this round of talks a positive signal to the whole world.

He said the talks focused on some concrete issues, such as agricultural products and energy products exporting to China. "The Chinese market will become the largest world market. So to increase imports, re-balance the economy and expand domestic demand is our national policy."

The vice premier noted that China has already established agriculture groups, energy groups and other groups. He added that maybe some ministers from the U.S. government will also lead a group to Beijing and "will find our colleagues to have deeper discussions with them and try to make concrete deals."

Liu also said that one of the strongest demands from both the Chinese side and the U.S. side is to stop imposing more tariffs on each other's products. "This time, both sides pledged to stop the trade war and develop good relations, be it in trade or in investment. I think this is a major demand from both countries."

"We expand our domestic market and increase imports because we want to serve the needs of our people, our economy, and our growth. Speeding reform and growth by means of opening up is a very important national strategy. It worked for China for the past 40 years, and we will continue down that path," Liu said.

"Exporting to China or making China buy more, one must make the Chinese consumers happy," Liu stressed.

"We resolved some of our misunderstandings from the past. These meetings will not just help bilateral economic and trade relations, but overall ties. It's good for people in both countries," Liu added.

CGTN's Wang Guan

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