PANews reported on May 12 that according to Cailian News, China and the United States held high-level economic and trade talks in Geneva, Switzerland from May 10 to 11. The Chinese delegation stated at the press conference that the two sides had in-depth exchanges on economic and trade issues of mutual concern. The atmosphere of the talks was candid, in-depth and constructive, and substantial progress was made and important consensus was reached. The two sides agreed to establish a China-US economic and trade consultation mechanism, clarify the leaders of both sides, and conduct further consultations on economic and trade issues of mutual concern. China and the United States will finalize the relevant details as soon as possible and will release a joint statement reached at the talks on May 12.