China stated that trade negotiations with the US are “moving forward” after nine rounds of consultations aimed at ending a standoff that has shaken the world economic outlook, AP reported.

As Foreign Ministry spokesman Lu Kang said at a daily news briefing, the latest discussions had achieved “new substantial progress.

“We also feel that the consultation is moving forward. We hope that the two sides can continue to work together to properly address each other’s concerns on the basis of mutual respect, equality and mutual benefit,” Lu said.

Commerce Ministry spokesman Gao Feng also noted that “new progress” had been made at the talks.

“They will spare no efforts for the negotiations and working toward the direction of implementing the important consensus reached by both leaders,” Gao said at a weekly briefing.