Delegations from China and the US ended talks in Beijing on Wednesday amid signs of progress on issues including purchases of USA farm and energy commodities and increased access to China's markets.
If further talks are planned, details will be included in an upcoming announcement, Lu said. China's Ministry of Commerce said there were "detailed exchanges" and both sides would "maintain close contact", without offering specifics.
People familiar with the talks said the world's two largest economies were further apart on Chinese structural reforms that the Trump administration is demanding in order to stop alleged theft and forced transfer of United States technology and on how to hold Beijing to its promises.
Jon Cowley, a senior lawyer at Baker McKenzie's worldwide commercial and trade practice group, said he expected that negotiators may have put together a framework for an agreement, but that existing tariffs would not be fully eliminated unless China met the USA "all the way". -Chinese talks aimed at ending a costly tariff battle wrapped up Wednesday in an optimistic atmosphere, with President Donald Trump saying they were "going very well!".
Scott Kennedy, director of the Project on Chinese Business and Political Economy at the Center for Strategic and International Studies in Washington, said the two sides for the first time were discussing topics that matter most to the Trump administration.
Signals from the latest round of talks were upbeat, the Post report said.
The U.S. -China trade war began when Trump imposed a 25 percent tariff on $50 billion worth of Chinese goods last July and August.
China is keen to put an end to its trade dispute with the United States but will not make any "unreasonable concessions" and any agreement must involve compromise on both sides, state newspaper the China Daily said on Wednesday. U.S. West Texas Intermediate (WTI) crude (CLc1) futures rose $2.58 to settle at $52.36 a barrel, a 5.2 percent gain. Hong Kong was up 2.1 percent and Tokyo up more than 1 percent.
Stocks rallied globally on the positive tone of the talks and optimism that Washington and Beijing can avert an all-out trade war. These include expanded Chinese purchases of American products, greater protections for USA intellectual property, constraints on Chinese industrial policy, and enforcement and verification of follow-through by China. "If the results of the talks are positive, it would be beneficial for both China and the United States and it would be good news for the global economy".
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"It seems there have been no fist fights internally between the two delegations", a person familiar with the progress of the talks told CNN on Tuesday, describing them as "constructive".
Still, the US statement said the negotiations dealt with the need for any deal with China to be "subject to ongoing verification and effective enforcement" - a comment that reflects USA frustration that the Chinese have failed to live up to past commitments.
US President Donald Trump tweeted that they were "going really well!"
A senior Chinese official said Beijing plans to introduce policies to boost domestic spending on items such as autos and home appliances this year.
China says it is trying to protect its own economic interests and has accused the US of violating worldwide trading rules.
Later this month, Lighthizer is expected to meet with Vice Premier Liu He, Xi's top economic aide who is leading negotiations for China. They complain China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged. "We hope your company can become an in-depth participant in China's opening and a promoter of the stability of Chinese-U.S. relations".
For its part, Beijing is unhappy with USA export and investment curbs, such as controls on "dual use" technology with possible military applications.
"Talks with China are going very well!".