China opposes United States provocation in its territorial waters: FM


He said, "As for whether this move has any impact to the ongoing China-U.S. trade consultations... to properly resolve existing issues of all kinds between China and the good for the two countries and the world".

The latest operation comes as U.S. and Chinese officials convened in Beijing to carry out the first trade talks since the meeting between Chinese President Xi Jinping and U.S. President Donald J. Trump at the 2018 Group of 20 leaders' summit in Buenos Aires, Argentina.

Asked about the timing of the operation during trade talks, Lu said resolving issues would help both countries and the world.

"Their economy's not doing well", Mr. Trump told reporters at the White House.

The talks are going ahead despite tensions over the arrest of a Chinese tech executive in Canada on US charges related to possible violations of trade sanctions against Iran.

They also want China to abandon its "Made in China 2025" plan, with its ambition of giving China global leadership in a range of key technologies.

The US was "confirming the logistics of several meetings" that could be held with China during the forum, Mnuchin told Bloomberg News last month.

Trump on Sunday headed to the U.S. presidential retreat at Camp David, where he said he would discuss a trade deal with China with senior aides, among other issues.

Beijing on Friday cut bank-reserve requirements amid slowing growth at home and pressure from the US tariffs.

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Officials from both countries are meeting in China this week in the first face-to-face interaction they've had since last November, when they agreed to a 90-day cease-fire in their trade dispute.

Adding to the worries, China's stock market became the world's worst performer past year, ending with a loss of 28 percent. The trade war between Washington and Beijing has been going on for almost a year already, with the two countries slapping tariffs on $300 billion worth of each other's goods.

It is doubtful that China would abandon, under duress, its industrial model and economic and geopolitical ambitions.

Without a resolution, punitive USA duty rates on US$200 billion in Chinese goods are due to rise to 25 per cent from 10 per cent on March 2. But it's resisting USA demands for tougher action on technology transfers, and less state support for strategic industries like robotics and computer chips.

Mr. Trump has said the tariffs are bringing in billions to the Treasury, but economists point out that USA consumers and companies are paying for the levies in the form of higher prices.

China is facing the daunting task of presenting a credible plan to meet Trump's demands to cut down the Dollars 375 billion trade deficit.

Despite the December truce, "most firms expect trade war to escalate", the report said.

He added that it would be easiest to tackle immediate trade, but harder to resolve enforcement issues and structural reforms such as intellectual property rights and market access.

UBS said Friday that 37 percent of 200 manufacturers surveyed by the bank have shifted out of China over the past 12 months.