Sino-US trade truce beneficial for global development

The retreat from a potential trade war between China and the United States is beneficial for both countries and global economic development, said Liu Xiaoming, China's ambassador to the United Kingdom, on Monday.

Liu was addressing more than 100 representatives from the business, political and academic sectors at the London-based think-tank Asia House.

"For China, this outcome is in the interest of achieving high-quality economic development, and meeting the growing consumption needs of the Chinese people. For the US, this outcome will cut the trade deficit, and support growth and employment," he said.