Chinese Vice Premier Liu He, the country's top trade negotiator, said Thursday that China carries "great sincerity" to the high-level trade talks this week.
"The Chinese side has come with great sincerity and is willing to make serious exchanges with the U.S. on issues of common concern such as trade balance, market access and investor protection, and promote positive progress in the consultations," Liu told Chinese state-run media agency Xinhua on Thursday. Stocks turned higher after his comment.
"On the basis of equality and mutual respect, China is willing to reach consensus with the U.S. through this round of consultations on issues of mutual concern to prevent further escalation and spread of friction," Liu said.
The U.S. and China began their principle-level negotiations in Washington on Thursday. Markets already had wild activity overnight as conflicting reports on trade talks confused investors.
The South China Morning Post reported the two sides made no progress in deputy-level trade talks this week and Liu will cut his visit short. Later, CNBC reported that the publication's story was inaccurate, but the schedule has become "fluid," with Friday's session an "open question." Bloomberg News also reported overnight that the White House is working up a partial deal.
