China, US confirm details to implement leaders' consensus and ease trade restrictions

China and the United States have recently confirmed detailed arrangements for implementing the important consensus reached during the phone call between the two heads of state on June 5, and for consolidating the outcomes of their economic and trade talks in Geneva, the Ministry of Commerce said on Friday.

In response to media reports that some companies have received notifications from the US Department of Commerce about resuming exports to China of items such as electronic design automation (EDA) software, ethane, and aircraft engines, the ministry said both sides are accelerating efforts to implement the outcomes of the London economic and trade meeting under the agreed framework.

China is reviewing and approving export license applications for controlled items in accordance with laws and regulations, said a ministry spokesperson in an online statement.

The commerce official said that the US side, for its part, has taken corresponding steps to lift a series of restrictive measures against China and has informed the Chinese side accordingly.

"The framework reached in London was hard-won. Dialogue and cooperation are the right path, while coercion and pressure will lead nowhere," the spokesperson said.

According to the statement, China hopes the US will fully recognize the mutually beneficial nature of bilateral economic and trade relations and continue to work in the same direction with China.

The statement also urges the US to take concrete steps to correct misguided practices and sincerely implement the consensus reached by the two heads of state to jointly advance the sound and stable development of bilateral economic and trade ties.