Chinese Vice-Premier Wu Yi (C) gestures during the 17th meeting of the Sino-U.S. Joint Commission on Commerce and Trade opened in Washington April 11. Wu Yi, U.S. Secretary of Commerce Carlos Gutierrez (L) and Trade Representative Rob Portman co-chaired the meeting Tuesday. (Xinhua)

China and the United States wrapped up their annual trade negotiations in Washington DC Tuesday with consensus reached on a series of issues.

At the day-long meeting, the two sides agreed that the China-US High Technology and Strategic Item Trading Working Group will be established under the China-US Joint Commission on Commerce and Trade (JCCT) framework, the officials said at a press conference on Tuesday.

The two sides also agreed to continue the Informal Steel Dialogue, start and strengthen the intellectual property protection mechanism, and further enhance cooperation in the sector of tourism.

In addition, China agreed to conditionally resume imports of US beef, while the United States said it would push ahead with the lifting of the ban on importing processed poultry meat from China.

The 17th JCCT meeting was jointly chaired by Chinese Vice Premier Wu Yi and US Secretary of Commerce Carlos Gutierrez and US Trade Representative Robert Portman.

United States President George W. Bush (R) meets with Chinese Vice-Premier Wu Yi at the White House in Washington April 12. (Xinhua)

Stressing that economic and trade cooperation is an important component of Sino-US relations, Wu Yi said that the 17th JCCT meeting reflected the spirits of "mutual benefit, development and win-win" and demonstrated the will of both sides to properly solve problems through equal consultations and to promote the steady development of China-US economic and trade relations through strengthened cooperation.

Noting that China has been making efforts to promote the balanced development of trade between the two countries, the Chinese vice premier said it needs joint efforts from both sides to resolve the bilateral trade imbalance.

Wu said relaxing restrictions on exporting high-tech products to China from the US side will be conducive to achieving a trade balance between the two countries.

On the intellectual property protection, Wu said China has attached importance to the issue and taken a series of measures to address it, adding that marked progress has been made in this regard.

The intellectual property protection is a common issue facing many countries around the world and international cooperation, communication and coordination as well joint efforts are needed to address the issue, Wu said.

The US side said economic and trade relations between the two countries are the most important ones in the world, and the JCCT has become an important platform and consultation mechanism for bilateral economic and trade relations.

Describing the discussions at the 17th JCCT meeting as frank and constructive, the US side said the meeting yielded important results, which will contribute to the fair, sustained and balanced development of economic and trade relations between the two countries.

The US side also said it will enhance and promote the high-tech trade between the two sides.

Established in 1983, the JCCT is a government-to-government consultation mechanism that provides a forum for addressing trade concerns and pursuing bilateral commercial opportunities.

Visiting Chinese Vice-Premier Wu Yi (C rear) applauds during a ceremony at which the China Aviation Supplies Import and Export Group. signed an agreement with U.S. Boeing Co. to buy 80 Boeing 737 planes, in Washington April 11. (Xinhua)

Chinese Vice-Premier Wu Yi (L) and U.S. Secretary of Commerce Carlos Gutierrez walk in the venue for the 17th meeting of the Sino-U.S. Joint Commission on Commerce and Trade in Washington on April 11. (Xinhua)

Editor: Yan