The Ministry of Commerce of both countries announced the establishment of a working group, and China and the United States had in-depth talks for nearly 4 and a half hours
The reporter learned from the Ministry of Commerce that on August 28th, Minister of Commerce Wang Wentao held talks with visiting US Secretary of Commerce Raymond in Beijing, and had rational, candid, and constructive communication on China US economic and trade relations and common economic and trade issues of concern.
The two sides had an in-depth conversation for nearly 4 and a half hours, announcing the establishment of a new communication channel between the Ministry of Commerce of China and the United States. A working group was established, consisting of government officials at the deputy ministerial and bureau levels of China and the United States, with representatives from enterprises participating, to seek solutions to specific business issues. The working group will hold two vice ministerial level meetings annually. The two ministers agreed to have regular communication and meet at least once a year. In addition, both sides have initiated an export control information exchange mechanism as a mechanism to explain their respective export control systems and improve communication. Both parties will exchange export control information in accordance with their respective laws.
Both sides discussed and agreed that experts from both countries will conduct technical consultations on strengthening the protection of trade secrets and confidential business information during the administrative licensing process.