China, US start economic, trade consultations in New York

The Chinese and U.S. delegations convened in New York on Sunday morning for consultations on economic and trade issues.

International trade representative of China Li Chenggang told reporters that Sunday's discussions went well, with dialogues on artificial intelligence, trade and investment.

Li said the Chinese team will continue their talks with the U.S. side on Monday, adding he will "possibly" join them.

According to the latest report by Xinhua, Chinese and U.S. teams held candid, in-depth and constructive exchanges during consultations on economic and trade issues on Sunday.

Chinese Vice Premier He Lifeng, who led the Chinese delegation, held economic and trade talks in New York with U.S. Treasury Secretary Scott Bessent, head of the U.S. side, and U.S. Trade Representative Jamieson Greer.

Guided by the important consensus reached by the heads of state of the two countries, they have engaged in exchanges on important economic and trade issues of common concern, as well as the implementation of consensus reached in previous talks, by upholding the principles of mutual respect, peaceful coexistence and win-win cooperation, the report said.

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 34 pips to 6.7487 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.