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Economists at Moody's Analytics also found that U.S.-China trade disputes would slash U.S. real gross domestic product (GDP) by 2.6 percentage points and cost the economy 3 million jobs by the final quarter of 2020.

BEIJING, May 25 (Xinhua) -- The Tsinghua Global Finance Forum 2019, organized by Tsinghua University PBC School of Finance (PBCSF), has opened in Beijing on Saturday.

Leaders of the two countries on Thursday reached a 10-point consensus to jointly promote the healthy development of bilateral relations in Japanese city of Osaka, said Wu Jianghao, director-general of the Department of Asian Affairs of the Chinese Foreign Ministry.

The policy incentives for cutting loan guarantee fees on micro and small businesses must be fully implemented. The role of the State Financing Guaranty Fund should be harnessed in reducing re-guarantee fees and incentivizing further cuts in guarantee charges.

Wu made the remarks in response to the United States' recent frequent provocations on Taiwan-related issues, including the passing of the "Taiwan Assurance Act of 2019" by the U.S. House of Representatives.