China's determination to safeguard its legitimate rights and interests is unwavering, and the Chinese side will resolutely protect national interests and the legitimate rights and interests of Chinese-funded enterprises overseas, Chinese Vice Premier He Lifeng said on Monday.

He made the remarks while meeting in Madrid from Sunday to Monday with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer.

During the talks, guided by the important consensus reached by the heads of state of the two countries in their phone call, the two sides held candid, in-depth, and constructive discussions on economic and trade issues of mutual concern, He said, adding that the two sides reached a basic framework consensus on resolving issues related to TikTok through cooperation, reducing investment barriers, and promoting relevant economic and trade cooperation.

The two sides will consult on the relevant outcome documents and complete their respective domestic approval procedures, He said.

Regarding the TikTok issue, China will handle the approval of technology exports in accordance with laws and regulations, He said, adding that the Chinese government fully respects the will of Chinese overseas enterprises and supports them in conducting business negotiations on an equal footing in accordance with market principles.

The vice premier pointed out that the essence of China-U.S. economic and trade relations is mutual benefit and win-win results, noting that both sides share broad space for cooperation and extensive common interests.

Both China and the U.S. stand to gain from cooperation and lose from confrontation, He added.

He urged the U.S. side to work with China and lift the relevant restrictions on China as soon as possible. The vice premier also called on the U.S. side to take concrete actions to jointly safeguard the hard-won achievements of the talks and continuously create a favorable atmosphere for the stability of China-U.S. economic and trade relations.

During the talks, the two sides fully recognized that a stable China-U.S. economic and trade relationship is of great significance to both countries and also has a major impact on global economic stability and development.

The two sides will continue to implement the important consensus reached by the two heads of state in their phone conversations, as well as the outcomes of previous economic and trade talks, fully leverage the role of the China-U.S. economic and trade consultation mechanism, continuously enhance mutual understanding, resolve differences, strengthen cooperation, and strive for more win-win outcomes, so as to promote the healthy, stable and sustainable development of China-U.S. economic and trade relations, and inject greater stability into the world economy.