Chinese Vice Premier Liu He says China comes with ‘great sincerity’ for trade talks

China’s top negotiator and Vice Premier Liu He said on Thursday the country carries “great sincerity” for the high-level trade talks this week.

“The Chinese side has come with great sincerity and is willing to make serious exchanges with the U.S. on issues of common concern such as trade balance, market access and investor protection, and promote positive progress in the consultations,” Liu told Chinese state-run media Xinhua on Thursday. Stocks turned higher following his comment.

“On the basis of equality and mutual respect, China is willing to reach consensus with the US through this round of consultations on issues of mutual concern to prevent further escalation and spread of friction,” Liu said.

The U.S. and China have begun their principle-level negotiations in Washington on Thursday. Markets had already had a wild overnight trading as conflicting reports on trade talks confused traders.

The South China Morning Post reported the two sides made no progress in deputy-level trade talks this week and China’s Vice Premier Liu He will cut his visit short. Later CNBC reported the SCMP story is inaccurate, but the schedule has become “fluid,” with Friday’s session an “open question.” Bloomberg News also reported overnight the White House is working up a partial deal.

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