China and the United States have agreed in principle on the framework for implementing the consensus reached by the two heads of state during their phone talks on June 5 and at Geneva talks last month, said Li Chenggang, China's international trade representative and vice commerce minister, on Tuesday.

He made the remarks when briefing the press following the first meeting of the China-U.S. economic and trade consultation mechanism in London.

The Chinese and U.S. teams held "professional, rational, in-depth and candid" discussions on economy and trade on Monday and Tuesday, he said.

Li said it is hoped that progress made at the London meeting will be conducive to strengthening trust between China and the United States, further promoting the steady and healthy development of economic and trade ties between the two countries. He said he hopes the meeting will inject positive energy into global economic growth.