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China Commerce Ministry: US-China trade talks were extensive

China's Commerce Ministry is out on the wires informing markets that the recently concluded trade talks with the US were broad, deep and detailed and most importantly both sides have agreed to maintain close contact in future.

While the talks may have promoted mutual understanding, the deep divide on issues such as the reduction of Chinese subsidies to domestic firms and protection of intellectual property remains intact.

Moreover, a breakthrough deal remains elusive and more discussions are needed to resolve the trade war.

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