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The two sides agreed to hold “positive and constructive” dialog to resolve economic and trade disputes in accordance with the consensus reached by the countries’ leaders, Foreign Ministry spokesman Lu Kang told reporters at a regular news briefing.

“From the beginning we have believed that China-U.S. trade friction is not a positive situation for either country or the world economy. China has the good faith, on the basis of mutual respect and equality, to resolve the bilateral trade frictions,” Lu said.

Trump imposed import tariffs on hundreds of billions of dollars of Chinese goods last year and has threatened more to pressure Beijing to change its practices on issues ranging from industrial subsidies to intellectual property to hacking. China has retaliated with tariffs of its own.

“As for whether the Chinese economy is good or not, I have already explained this. China’s development has ample tenacity and huge potential,” Lu said. “We have firm confidence in the strong long-term fundamentals of the Chinese economy.”

Lu also said that Vice President Wang Qishan would attend the World Economic Forum in Davos, Switzerland in late January, but added that he had not yet heard of any arrangements for a meeting with Trump there.

By Monday afternoon, few details had emerged of the talks, which were scheduled to run through Tuesday.

The U.S. delegation, led by Deputy U.S. Trade Representative Jeffrey Gerrish, includes under secretaries from the U.S. Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from the White House.