The outcomes of the meeting between Chinese President Xi Jinping and his US counterpart, Donald Trump, on the sidelines of the G20 Osaka summit on June 29 have sent a positive signal to the two countries and the world.

At their gathering, the two leaders agreed to restart economic and trade consultations between their countries on the basis of equality and mutual respect.

They also agreed that the US side will not impose new tariffs on Chinese exports and the negotiating teams on both sides will hold talks on relevant issues.

Only by correctly grasping the fundamental issues concerning the China-US relations can the two countries charter the course for the development of their relations. It is of great significance to jointly advance a China-US relationship featuring coordination, cooperation and stability.

The essence of the China-US economic and trade cooperation is to find mutual benefit and create win-win situations, Xi emphasized.

China and the US have highly integrated interests and extensive cooperation areas. They should become good cooperative partners, which is good for both sides, as well as the world. Xi has repeatedly stressed this point and China’s stance has never changed.

The Chinese and American people have a long tradition of friendship. On the 40th anniversary of the establishment of China-US diplomatic relations, people should not forget the profound friendship between the two peoples starting from "ping-pong Diplomacy", and the economic development opportunities delivered to China and the US by the opening-up of the Chinese market.

Responding to the voice of the people and safeguarding the common interests of China and the US requires the two sides to work hard to explore and mobilize all the positive and potential energy. In that way, the cooperation prospects between the two countries will become wider and the momentum for constructive action will become stronger.

Although there are some differences between China and the US, the reality of dominant significance is that the interests of the two sides are highly intertwined and the fields of cooperation are broad.

To deal with the relationship between major countries, we must focus on the big picture, stand on the overall height and rationally weigh the advantages and disadvantages.

Controlling differences is a responsibility China and the US need to jointly assume. It is imperative to avoid making irreparable historical mistakes due to short-sightedness and particularly necessary to be aware not to fall into so-called traps of conflict and confrontation.

The right thing to do is to let real wisdom play a role, choose the path of mutual promotion and common development and create conditions for brighter prospects.

For his part, Trump said he values the good relationship with Xi, adding that his country is willing to cooperate with China.

The US side harbors no hostility towards China, hopes for better relations between the two countries and will follow the principles and consensus established by the two heads of state.

Trump’s remarks also attracted international attention. By making the decision to restart economic and trade consultations, the two countries have indicated that they are willing to find a mutually acceptable solution to solve problems through dialogue and consultation. The key is to keep the words and take actions.

It is worth noting that only by complying with the will of the two peoples and respecting rules can China and the US maximize common interests. The two sides both benefit from cooperation and lose in confrontation, and cooperation and dialogue are better than friction and confrontation.

Practice has repeatedly proven that key for a healthy China-US relationship is to firmly grasp the correct direction. Without mutual respect, equality and mutual benefit, it is impossible for China-US relations to continue developing in a healthy and stable manner.

At present, it is urgent for the two countries to follow the principles and direction set by the two heads of state by maintaining exchanges at all levels and strengthening cooperation in various fields.

At the Osaka summit, China announced measures to expand opening-up, which include further opening up its market, proactively expanding imports, continuously improving its business environment for foreign enterprises, extending equal treatment to all foreign investment and pressing ahead with various trade agreement negotiations.

China is accelerating the formation of a new opening-up landscape and embracing a bright future of high-quality development.

The country has full confidence in following its path and running its own affairs well. It will work in the spirit of peaceful co-existence and win-win cooperation with all other countries to build a community with a shared future for mankind and to tirelessly pursue a brighter future of the global economy.

To explore the future of China-US relations, we should not jump out of the historical and international background.

It is hoped that through restarting economic and trade consultations, the China-US economic and trade relations will go back onto the right track.

The two countries should increase mutual trust with sincerity, make choices with rationality and promote action through consensus building. The process may be a long and arduous effort. We must press ahead with a sense of urgency and perseverance to achieve our goals.

(Zhong Sheng is a pen name often used by People’s Daily to express its views on foreign policy.)