Asia-Pacific economies look forward to progress in trade talks between the US and China

Wei Jianguo, vice chairman and deputy executive officer of CCIEE, noted any progress in the first phase comes hard, but what is important is that both the US and China have learned of core concerns and red-lines of each other and be better prepared for further negotiations.

"The haze is gone, but the sky is not fully clear, so more efforts are needed," Wei told journalists.

China is not to replace the US in supremacy and China is not to change the international mechanisms in global governance, he said. China, like many other developing nations, just seeks to reform and improve the global economic institutions such as the World Trade Organization.