According to a joint statement, both sides created a working group composed of government officials at the level of deputy ministers and the business sector’s representatives to solve specific commercial issues.

This working group will meet twice a year, while Chinese Commerce Minister Wang Wentao and his US counterpart, agreed to meet at least once a year.

The two officials also established a mechanism for the exchange of information on export controls, which will operate under their respective laws.

Beijing and Washington agreed that experts from both countries will hold technical consultations on protecting trade secrets and confidential business information to improve administrative licensing.

China-US relations have hit the worst moment in history due to the US economic war and its interference in domestic issues such as the Taiwan one. jrr/iff/nmr/idm