Trump hails 'productive' China talks

November 10, 2017

Donald Trump says discussions with his Chinese President Xi Jinping were very productive.

US President Donald Trump has lauded his Beijing meetings on trade and North Korea as "very productive", ending a visit which Chinese media declared set a "new blueprint" for handling ties.

Trump pressed China to do more to rein in North Korea's nuclear ambitions and said bilateral trade had been unfair to the United States, but also praised Xi's pledge that China would be more open to foreign firms.

Hours after Trump left Beijing on Friday, China said it would drop foreign ownership limits on local banks and asset management companies while loosening stake restrictions in securities firms and insurers - moves that have been long awaited by foreign financial firms.

Beijing faces intensifying pressure from Western governments and business lobbies to remove investment barriers and other rules that hobble overseas firms from operating in the country, as well as intellectual property theft.

Washington has refrained from pushing harder on trade because it needs China's cooperation on North Korea, although Xi, at least in public, went no further than reiterating China's determination to achieve denuclearisation through talks.

Trump and Xi, who call themselves friends, also oversaw the signing of about $US250 billion in commercial deals, a show that some in the US business community and others say detracts from addressing structural impediments that puts them at a disadvantage to Chinese rivals.

There were no obvious gaffes during the two-night stopover, and Trump and Xi seemed to enjoy being in each other's company.

At a banquet on Thursday night in the Great Hall of the People, Trump and Xi dined on coconut chicken soup, spicy chicken, stewed beef with tomatoes and grouper fillets.

Chinese state media said the tone and outcome of Trump's visit had been largely positive, saying Trump and Xi were setting a new blueprint for handling relations and managing their differences.

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