Journalists raise hands to ask questions at the press conference of the second session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC), at the Great Hall of the People in Beijing, capital of China, March 2, 2019. The CPPCC National Committee held a press conference on Saturday afternoon, one day ahead of its annual session. (Xinhua/Shen Bohan)

Common interests between China and the US far outweigh their differences, and the demand for cooperation far outweighs frictions, a spokesperson for the national political advisory body said Saturday.

Guo Weimin, spokesperson for the second session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC), said so at a press conference held a day ahead of the opening of the annual gathering of the national political advisory body.

“The members of the CPPCC National Committee are keeping close eyes on the updates of China-US economic and trade consultations, and we welcome the positive progress yielded by both sides,” Guo said, adding that the consultations have drawn attention both home and abroad.

The latest round of consultations in Washington was held under the guidance of the important consensus reached by the two heads of state during their Argentina meeting, and both sides have discussed on issues of mutual concern, Guo said.

He elaborated that substantial progress has been made on such specific issues as technology transfer, protection of intellectual property rights, non-tariff barriers, service industry, agriculture and exchange rates.

Both sides will enhance communication following the principle and direction set by the two heads of state and continue their work for the next stage, said the spokesperson.

Reaching a mutually beneficial agreement as soon as possible, according to Guo, will not only benefit both countries, but also be good news for the world economy.

The spokesperson also said that China and the US, as permanent members of the UN Security Council and the world's two biggest economies, share common interests and shoulder important responsibility in safeguarding world peace and stability, and promoting global prosperity.

He admitted at the same time that disagreements inevitably arise between the two countries, given that they are different in social system, history, culture and stage of development.

But their common interests and demand for cooperation far outweigh difference and frictions, Guo said, adding that facts have proven that the two countries stand to gain from cooperation and lose from confrontation.

"Cooperation is the best choice for both sides," he concluded.

Pointing out that China-US ties are now standing at crucial stage, Guo stressed that maintaining the healthy and stable development of bilateral relations is in line with the fundamental interests of the two countries and peoples, meets the common expectation of the international community, and needs the joint efforts from both sides.

The two sides should expand cooperation in the philosophy of mutual benefit and reciprocity, manage and control differences with mutual respect, and promote bilateral relations based on coordination, cooperation and stability by following the principle and course set by the two heads of state, so as to further benefit both countries and the rest of the world, Guo said.