SEOUL, May 13 -- The Chinese and U.S. delegations on Wednesday held candid, in-depth and constructive exchanges in South Korea on economic and trade issues of mutual concern, as well as on further expanding practical cooperation.

Chinese Vice Premier He Lifeng, also China's lead person for China-U.S. economic and trade affairs, and U.S. lead person Treasury Secretary Scott Bessent conducted the consultations.

Guided by the important consensus reached by the two heads of state, the two sides upheld the principle of mutual respect, peaceful coexistence and win-win cooperation.