China and the United States have recently confirmed detailed arrangements for implementing the important consensus reached during the phone call between the two heads of state on June 5, and for consolidating the outcomes of their economic and trade talks in Geneva, the Ministry of Commerce said on Friday.

In response to media reports that some companies have received notifications from the US Department of Commerce about resuming exports to China of items, including electronic design automation, or EDA, software, ethane and aircraft engines, the ministry said both sides are accelerating efforts to implement the outcomes of the London economic and trade meeting under the agreed framework.

China is reviewing and approving export license applications for controlled items in accordance with laws and regulations, a ministry spokesperson said in an online statement.

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The commerce official said that the US side, for its part, has taken corresponding steps to lift a series of restrictive measures against China and has informed the Chinese side accordingly.

"The framework reached in London was hard-won. Dialogue and cooperation are the right path, while coercion and pressure will lead nowhere," the spokesperson said.

Wang Wen, dean of Renmin University of China's Chongyang Institute for Financial Studies, said that given the size and influence of China and the US, improved bilateral trade ties will have ripple effects across Asia, Europe and beyond.

"When both sides engage through dialogue and cooperation, it not only helps stabilize supply chains and boost investor confidence, but also creates a more predictable environment for businesses in China and the US to engage in trade and investment activities," said Bai Ming, a researcher at the Chinese Academy of International Trade and Economic Cooperation in Beijing.

According to the Commerce Ministry statement, China hopes the US will fully recognize the mutually beneficial nature of bilateral economic and trade relations and continue to work in the same direction with China.

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The statement also urges the US to take concrete steps to correct misguided practices and sincerely implement the consensus reached by the two heads of state to jointly advance the sound and stable development of bilateral economic and trade ties.

The US remained China's third-largest trading partner in the first five months of 2025, with bilateral trade reaching 1.72 trillion yuan ($240.11 billion), dropping 8.1 percent year-on-year, data from General Administration of Customs showed.