The Ministry of Commerce released a few key points on the preliminary outcomes of China-U.S. economic and trade talks. After reading it, my personal takeaway is still what we discussed yesterday: China is willing to confirm the 'direction of economic and trade cooperation,' but remains cautious about the big orders and specific procurement figures that the U.S. likes to announce. It seems there will be further negotiations on the details of several specific trade transactions. From a personal perspective, the biggest progress in the economic and trade field is the establishment of the Investment Committee and the Trade Committee: - The Investment Committee aims to build a communication mechanism for bilateral investments and lower market entry barriers. - The Trade Committee serves as a permanent platform for resolving bilateral trade disputes and fostering economic and trade cooperation, helping to avoid new tariff wars.