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The Chinese and U.S. delegations engaged in candid, in-depth and constructive communication based on mutual respect and equal consultation regarding economic and trade issues of mutual concern, including TikTok, a senior Chinese official said in Madrid, Spain on Monday.

The two sides fully recognized that a stable China-U.S. economic and trade relationship is of great significance to both countries and also has a major impact on global economic stability and development, said Li Chenggang, China international trade representative with the Ministry of Commerce and vice minister of commerce, at a briefing.

As two major countries with different levels of development and different economic systems, it is normal for China and the United States to see frictions and differences in the course of trade and economic cooperation, Li said, stressing that the key is to respect each other's core interests and major concerns and find proper solutions to the issues through dialogue and consultation.

Regarding the TikTok issue, China has always opposed politicization, instrumentalization and weaponization of technology as well as economic and trade matters and will never seek to reach any agreement at the expense of principles, interests of companies, or international fairness and justice, Li said.

China will firmly safeguard the national interests, the legitimate rights and interests of Chinese enterprises, and carry out technology export approval in accordance with relevant laws and regulations, Li said, adding that the Chinese government also fully respects the will of enterprises and supports them in conducting business negotiations on an equal footing in accordance with market principles.

During this meeting, the two sides engaged in candid and in-depth discussions on TikTok and the relevant concerns of the Chinese side, and the two sides reached a basic framework consensus on resolving issues related to TikTok through cooperation, reducing investment barriers and promoting relevant economic and trade cooperation, Li said.

Both sides will continue to maintain close communication, discuss the details of the relevant outcome documents, and each will go through the domestic approval procedures, Li added.

Building on the important consensus reached by the heads of state in their call, the two sides will continue to actively implement the outcomes of the previous U.S.-China economic and trade talks, fully leverage the China-U.S. trade consultation mechanism, continuously enhance mutual understanding, reduce misunderstandings, strengthen cooperation, and strive for more win-win outcomes, thereby injecting greater stability into China-U.S. economic relations and the global economy, Li said.