China’s top banking regulator said today that it can “absolutely” reach an agreement top open up the financial sector to the US. Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said “On the opening of the financial sector, China and the United States absolutely can reach agreement. Though at present there may be a few small disagreements, the problems are not that great”

Separately, Commerce Minister Zhong Shan said trade talks have achieved a breakthrough in some areas. While the negotiations were difficult, Zhong said both teams are continuing with their work.

The White House announced that Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing to on April 30 to continue trade talks. China’s team will again be led by Vice Premier Liu He. Liu is expected to fly to Washington on May 8 for additional discussions. In the statement, it’s noted that “the subjects of next week’s discussions will cover trade issues including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases, and enforcement.”

Earlier yesterday, Larry Kudlow, Director of the White House National Economic Council, said the negotiations were making progress and he was “cautiously optimistic” on striking a deal. He hailed that “we’ve come further and deeper, broader, larger-scale than anything in the history of U.S.-China trade.”

But Kudlow also noted that “We’re not there yet”. “We’re still working on the issues, so-called structural issues, technology transfers”. Also, “ownership enforcement is absolutely crucial. Lowering barriers to buy and sell agriculture and industrial commodities. It’s all on the table.”

In response to the start of US section 301 tariffs on USD 34B in Chinese import, Chinese Foreign Ministry spokesman Lu Kang said in a daily media briefing that “after the United States unfairly raised tariffs against China, China immediately put into effect raised tariffs on some U.S. goods.” Lu also reiterated that “On the specifics of the trade issue, from the start China’s position has been very clear and consistent. The United States at all levels is very clear on China’s position,”

Commenting on the issue, Chinese Premier Li Keqiang said in Bulgaria that trade war is “never a solution” and there will be no winner. And, “it benefits no one and it would undermine the multilateral free trade process,” he said. “If one insists on waging a trade war it would hurt others and themselves.”

He reiterated that China is committed to further opening up its markets. But, “if any party resorts to increase of tariffs, china would take measures in response to protect china development interests and safeguard multilateral trade regime and rules.”