(ECNS) -- A China-U.S. joint working group was established to boost bilateral commerce communication during talks between Chinese Minister of Commerce Wang Wentao and visiting U.S. Commerce Secretary Gina Raimondo on Monday in Beijing, CCTV News reported Tuesday.
During the 4-hour long talks, both sides decided to set up a working group composed of deputy ministerial and bureau-level government officials from both China and the U.S., along with representatives from the business sector, to seek solutions to specific business issues.
The working group will hold deputy ministerial-level meetings twice a year. The two heads of both commerce departments agreed to maintain regular communication, meeting at least once a year, said the statement.
Additionally, both sides have initiated an export control information exchange mechanism, which could help clarify their respective export control systems. They will exchange information on export control in line with respective laws.
Both countries consented that their experts would engage in technical consultations on the protection of trade secrets and confidential business information during the process of enhancing administrative licensing.