US and China business representatives, former cabinet officials and think tank experts held day-long discussions in Washington on the major problems in China-US relations, especially on the trade and economic side.

The discussions by more than 30 top officials on Tuesday were part of the 11th meeting of the US-China CEO and Former Senior Officials' Dialogue, hosted by the US Chamber of Commerce and the China Center for International Economic Exchanges (CCIEE). The dialogue was co-chaired by CCIEE Chairman and former vice-premier Zeng Peiyan and US Chamber President and CEO Thomas J Donohue.

The CEO Dialogue is the leading platform for leaders from the business community in both countries – supported by both governments – to discuss economic and commercial policy issues in US-China relations, including trade, two-way investment, infrastructure development, innovation policy, and cybersecurity.

The dialogue occurred at a time of unprecedented bilateral trade and investment frictions, but also followed the meeting on Dec 1 between US President Donald Trump and Chinese President Xi Jinping in Buenos Aires, at which the two leaders agreed to pause the escalating cycle of tit-for-tat tariffs and pursue a comprehensive and enduring agreement over a 90-day period that would ensure the stability of US-China relations.

"This is an important moment when the two countries can develop better relations. I hope (the relations) will go smoother and further," said Zeng.

According to a joint statement released at the end of the dialogue session, the participants said that they held detailed breakout sessions on critical issues and opportunities in China-US economic and commercial relations, including discussion of the strategies each country's companies could take to meet the challenges of the current unprecedented level of bilateral friction.

The statement also said the participants held an open, vigorous discussion of priority concerns, including the negative implications, bilateral and global, of the widening differences between the economic policies and principles underlying the first and second-largest economies in the world.

"It is imperative that we now come together, seize this moment, and capitalize on the positive exchange between our presidents. Our challenge is to make sure that this is not just a fleeting moment, but instead an inflection point – and one that puts us on the path to enduring progress," said Donohue.

CCIEE and the Chamber agreed to hold the 12th meeting of the US-China Senior and Former Official's Dialogue in Beijing in 2019, according to the joint statement.

Contact the writer at [email protected]