China and the US wrapped up a two-day economic and trade dialogue in Madrid, Spain, reaching a basic framework consensus on resolving TikTok-related issues cooperatively, reducing investment barriers, and fostering relevant economic and trade cooperation. Both parties will negotiate on the related outcome documents and fulfill their respective domestic approval procedures.

He Lifeng, the Chinese head of the Sino-US economic and trade talks and Vice Premier of the State Council, remarked that China is unwavering in its determination to safeguard its legitimate rights and interests, and will adamantly protect national interests and the legal rights of Chinese-funded enterprises overseas.

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Regarding the TikTok issue, China will conduct technology export approvals in accordance with laws and regulations. Meanwhile, the central government fully respects the wishes of Chinese enterprises overseas and supports them in engaging in equal commercial negotiations with partners based on market principles.