China has failed to meet its purchase commitment in 'phase one' trade deal. Photo: iStock

The similarities between China and the United States are far greater than their differences in the area of trade, and their interests are highly intertwined, said a Ministry of Commerce (MOFCOM) official, according to the MOFCOM website.

In 2018, the trade in goods between China and the US exceeded US$630 billion and two-way investment amounted to more than $240 billion, said Gao Feng, the ministry’s spokesman.

This has provided a strong impetus for the development of the world economy, Gao said, adding that China hopes the US will choose to promote mutually beneficial, constructive cooperation.

Gao also confirmed that Vice Premier Liu He will pay a visit to the US on January 30-31 to hold trade consultations, and jointly promote the implementation of the important consensus reached by the two countries’ heads of state.

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