China-U.S. phase-one trade deal has bearing on world peace, prosperity, says vice premier

Chinese Vice Premier Liu He said Wednesday that the phase-one economic and trade agreement between China and the United States is more than an economic deal, as it also has a bearing on world peace and prosperity.

The agreement benefits both countries and the whole world, and serves the interest of global producers, consumers and investors, Liu said during a briefing with the Chinese press after he signed the deal along with U.S. President Donald Trump in the White House.

After the signing of the deal, China will work together with the U.S. side, adhere to the principle of equality and mutual respect, abide by the terms of the deal and strive for the full implementation of the agreement, said Liu, a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-U.S. comprehensive economic dialogue.

Meanwhile, both sides should accommodate each other's core concerns and make more efforts to promote bilateral economic and trade development as well as economic and financial stability, Liu said.

The Chinese vice premier also said that the China-U.S. relationship is one of the most important bilateral relationships in the world. Despite differences in their political systems, ideologies and other aspects, the two countries have a lot of shared interests, and can certainly find a way to manage their differences and engage in win-win cooperation, he said.

"In the whole process of consultations (with the U.S. side), I strongly feel that the international community as a whole hopes our two countries can settle differences properly and our two peoples also eagerly want us to well address our problems," said Liu.(Updated at 14.55)