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Market Chatter: Wang Says Xi-Trump Talks Produced Constructive Outcomes, China Urges Hormuz Reopening

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Wang Yi, China's top diplomat, said Friday that China wants the Strait of Hormuz reopened quickly while supporting efforts to maintain the ceasefire, China's state-owned media outlet Xinhua reported Friday.

China believes a permanent and comprehensive ceasefire offers the long-term solution to issues surrounding the Strait of Hormuz, Wang said during a press briefing in Beijing.

Wang also said China encourages the US and Iran to continue resolving disputes, including nuclear-related issues, through negotiations.

China will continue to promote peace talks and support efforts to end the war and restore peace in the Middle East, Wang said.

Wang said President Xi Jinping and President Donald Trump achieved fruitful outcomes after holding extensive meetings during Trump's May 13 to May 15 visit to China.

Xi and Trump spent nearly nine hours in formal talks, a welcome banquet, private meetings and visits, while both leaders stressed mutual respect and cooperation, Wang said.

According to Wang, the leaders agreed on building a constructive China-US relationship focused on strategic stability and long-term cooperation between the two countries.

The two sides also expressed willingness to expand exchanges covering diplomacy, military affairs, economy and trade, health, agriculture, tourism, law enforcement and cultural ties, Wang said.

He added that the new framework supports cooperation, manageable competition, stable handling of differences and long-term peace, while rejecting zero-sum games that benefit one side at the other's expense.

The Ministry of Foreign Affairs of the People's Republic of China didn't immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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