China and the United States hold talks in Madrid, Spain on TikTok and other economic and trade issues.

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From September 14 to 15 local time, the Chinese lead representative for China-U.S. economic and trade affairs, Vice Premier He Lifeng, met with U.S. lead representatives, Treasury Secretary Baisente and Trade Representative Greer, in Madrid, Spain. Guided by the important consensus reached during the phone call between the two countries’ leaders, both sides conducted frank, in-depth, and constructive communication on economic and trade issues of mutual concern, and reached a basic framework consensus on properly resolving issues related to TikTok through cooperation, reducing investment barriers, and promoting relevant economic and trade cooperation. The two sides will consult on relevant outcome documents and follow their respective domestic approval procedures.

He Lifeng stated that China’s determination to safeguard its legitimate rights and interests is unwavering, and will resolutely protect national interests and the legitimate rights and interests of overseas Chinese enterprises. Regarding the TikTok issue, China will conduct technology export approvals in accordance with the law and regulations. Meanwhile, the Chinese government fully respects the wishes of its overseas enterprises and supports them in conducting equal commercial negotiations with partners on the basis of market principles.

He Lifeng pointed out that the essence of China-U.S. economic and trade relations is mutual benefit and win-win cooperation, and both sides have broad space for cooperation and extensive common interests. The two countries benefit from cooperation and are both hurt by confrontation. He hopes the U.S. side will work with China to remove relevant restrictive measures against China as soon as possible, and work together through concrete actions to safeguard the hard-won outcomes of the talks, and create a favorable atmosphere for the stable and sustained development of China-U.S. economic and trade relations.

Both sides agreed that stable China-U.S. economic and trade relations are of great significance to both countries, and also have an important impact on global economic stability and development. Both sides will continue to implement the important consensus reached by the two countries’ leaders and the outcomes of previous economic and trade talks, fully utilize the China-U.S. economic and trade consultation mechanisms, continually enhance consensus, resolve differences, strengthen cooperation, strive for more win-win results, promote healthy, stable, and sustainable development of China-U.S. economic and trade relations, and inject more stability into the world economy.

Source of this article: Xinhua News Agency, Original title: “China and the U.S. Hold Talks on Economic and Trade Issues Including TikTok in Madrid, Spain”.

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