In his New Year address, Chinese President Xi Jinping reminded US President Donald Trump that “history has proved that cooperation is the best choice for both sides.” Xi added that “I attach great importance to the development of China-U.S. relations and am willing to work with President Trump to summarize the experience of the development of China-U.S. relations and implement the consensus we have reached in a joint effort to advance China-U.S. relations featuring coordination, cooperation and stability so as to better benefit the two peoples as well as the people of the rest of the world.”

The official Xinhua new agency also echoed in the commentary that “At a time when the world is undergoing unprecedentedly profound changes and is fraught with risks and uncertainties, the global community expects even closer collaboration between the two largest economies.”

Trump tweeted on December 29 that “Just had a long and very good call with President Xi of China. Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made!”. China’s state media also said Xi believed both sides wanted “stable progress”, and China-US ties had reached a “vital stage” on its 40th anniversary.

It’s believed that Deputy U.S. Trade Representative Jeffrey Gerrish will lead a delegation including Treasury Under Secretary for International Affairs David Malpass, to travel to China in the week of January 7 for face-to-face meeting on trade negotiations.

China is accelerating legislation to protect intellectual property rights of foreign investments. Draft laws has been submitted to the Standing Committee of the National People’s Congress for first review. Strong wordings were used in the draft like “official authorities and their staff shall not use administrative means to force the transfer of technology.” The Committee will being a session on Sunday and then hold “public” consultations until February 24.

China’s Ministry of Commerce spokesman Gao Feng said today that there are plans for face-to-face meeting with the US over trade in January. In the mean time, “intensive” phone calls are on-going despite the Christmas break. Separately, Bloomberg reported that a US delegation will travel to Beijing in the week of January 7. Deputy U.S. Trade Representative Jeffrey Gerrish will lead the Trump administration’s team, including Treasury Undersecretary for International Affairs David Malpass.

Reuters reported, citing three unnamed sources, that Trump is considering to sign an executive order as early as in January to indirectly limit US companies purchases of equipment from China’s tech giants Huawei and ZTE. The executive order could invoke the so called International Emergency Economic Powers Act that gives the president authority to regulate companies on national securities ground. It’s believed that, though, Huawei or ZTE wouldn’t be directly named.

China’s Foreign Ministry spokesperson Hua Chunying declined to comment on the order. But she said “it’s best to let facts speak for themselves when it comes to security problems.” She added, “some countries have, without any evidence, and making use of national security, tacitly assumed crimes to politicize, and even obstruct and restrict, normal technology exchange activities.” And, “this in reality is undoubtedly shutting oneself off, rather than being the door to openness, progress and fairness.”