China wants to ‘very badly’ strike a trade deal with US

U.S. President Donald Trump and Chinese President Xi Jinping participate in a welcome ceremony at the Great H

U.S. President Donald Trump and Chinese President Xi Jinping participate in a welcome ceremony at the Great H

"We're doing a normal, routine run-through of things that we've already put together and normal preparation", he said.

Trump also offered to host a "Western-style" dinner for Xi on December 1, after the G20 leaders' meeting, an invitation that Beijing had tentatively accepted, people familiar with the matter told the South China Morning Post. At a campaign rally in Columbia, Missouri, he added: "They want to make a deal".

Peter Navarro, director of the National Trade Council within the White House, struck a similar wait-and-see note on Saturday about the Trump-Xi meeting.

Trump also noted that talks have been progressing to the point where China seems more inclined to make a trade agreement and signaled the country may be feeling economic pressure.

Jacob Parker, vice president of China operations at the U.S.

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In a phone call with U.S. President Donald Trump, Xi also said he and Trump hoped to expand bilateral trade cooperation, Xi was quoted as saying on CCTV state television. Also had good discussion on North Korea!

"We will see what happens at the G20 and with Liu's talks, but I am not optimistic that anything momentous will come out of this", Zimmerman said.

Despite the positive message from Beijing, analysts were more pragmatic about what could be achieved by the leaders' meeting given the two sides' huge differences on strategic and ideological issues, as well as the growing hostility towards China in the United States. The Hang Seng Index rose 4.2 percent, the biggest gain since 2011, and the Shanghai Composite Index climbed 2.7 percent, posting a fourth day of gains for its longest winning streak since February.

Xi's comments came after Trump said in a tweet that trade discussions with China were "moving along nicely" and that he planned to meet Xi at the upcoming G-20 summit, after the two had a "very good" talk.

Thursday's meeting was the first telephone conversation between the leaders in six months of which is openly reported. Earlier, U.S. President said that he had fruitful talks with the Chinese President, during which they discussed trade relations between China and the United States. But Kudlow cautioned that Trump would "aggressively" pursue his agenda against China if no deals were reached on intellectual property theft, cybersecurity and tariffs on commodities, among other issues.

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