Ministry of Commerce Introduces the Situation of the First Meeting of the China-U.S. Economic and Trade Consultation Mechanism

On the afternoon of June 12, the Ministry of Commerce held a regular press conference, where a reporter asked about the first meeting of the China-US economic and trade consultation mechanism.

He Yadong, spokesperson for the Ministry of Commerce, introduced that from June 9 to 10 local time, the China-US economic and trade teams held the first meeting of the China-US economic and trade consultation mechanism in London, UK. The two sides reached a consensus in principle on the framework of measures to implement the important consensus reached during the phone call between the heads of state of the two countries on June 5 and to consolidate the outcomes of the Geneva economic and trade talks, and made new progress in addressing each other's economic and trade concerns.

Going forward, the two sides will further leverage the role of the China-US economic and trade consultation mechanism, continue to maintain communication and dialogue, continuously enhance consensus, reduce misunderstandings, strengthen cooperation, and jointly promote the steady and long-term development of China-US economic and trade relations.

In response to the rare earth issue raised by the reporter, He Yadong stated that as a responsible major country, China fully considers the reasonable needs and concerns of various countries in the private sector, reviews applications for export licenses of rare earth-related items in accordance with laws and regulations, has approved a certain number of compliant applications in accordance with the law, and will continue to strengthen the approval work for compliant applications.