Chinese state news agency Xinhua said finding a solution to the trade dispute with the US would be a long-term process.

US officials on Oct. 11 promised that a "phase 1" deal with China involving a series of conflicts, from intellectual property to currency, was about to take place. However, Chinese state news agency Xinhua has shown a relatively cautious attitude.

"We have reached agreement on many topics and they are waiting to be written," US President Donald Trump told reporters at the White House after two days of high-level trade talks with China in Washington, the next is Chinese Vice Premier Liu He. "It could take three weeks, 4 weeks or 5 weeks," he said.

Meanwhile, an article posted on Xinhua's website does not mention specific agreements or the possibility that Washington and Beijing will sign the agreement in the coming weeks.

"The two sides have had honest, effective and constructive discussions on economic as well as trade issues, under the important leadership of the leaders of the two countries," the article said. "The two sides have achieved significant progress in agriculture, intellectual property rights, exchange rates, financial services, expanded trade cooperation, technology transfer and dispute resolution." The article concludes that the two countries "agreed to continue consultations and endeavors towards a final agreement".

With the comments posted this morning, Xinhua said that the recent rounds of talks have brought "reasonable and pragmatic advances" and helped to prevent escalating trade conflicts. However, the Chinese news agency noted that there still exists uncertainty in many controversial issues between the two countries.

The article emphasizes that the US-China relationship is becoming more and more complex and "many people are seeking to politicize trade and economic issues." Finding solutions to trade and economic problems both sides accept this could be a very long process ".

The US-China trade war has lasted more than a year with tax reprisals from each other, causing the world's two largest economies to suffer. The United States accuses China of unfair trade practices, such as favoring domestic enterprises, forcing foreign companies to transfer technology or manipulating currencies, and demanding provisions to address these issues. trade deal.