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POVERTY RELIEF PRIORITIES

Although the tariff escalation is regrettable, Liang said he believed both sides had hope for the future of their economic and trade relations. A win-win cooperation between China and the United States is in line with the aspirations of the two peoples and the world at large, Liang said.

--Last June, Xi presided over a meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee to review a plan on efforts in poverty alleviation, stressing that the battle against poverty was one of the "three tough battles" that the country must win to build a moderately prosperous society.

"We must embrace institutional innovation to scale up policy support for innovation in science and technology. This will help ensure that these national zones lead the way in technological innovations across the country," Li said.

"This vision of a shared prosperity in the context of multilateral cooperation is more important now than ever, given the uncertainties surrounding the global economy and existing push back against multilateralism," he said.