China's government announced late Wednesday that it had reached an agreement with U.S. commerce officials to press ahead with trade and investment ties.

Driving the news: Commerce Secretary Gina Raimondo and her Chinese counterpart Wang Wentao "exchanged views frankly and pragmatically on relevant issues and mutual concerns," according to a Chinese Communist Party statement translated by Bloomberg.

• It was the third phone conversation between top officials from the two nations in the past few weeks, following Treasury Secretary Janet Yellen's discussions with Vice Premier Liu He, Bloomberg notes.
• Representatives for the State Department and Treasury did not immediately respond to Axios' request for comment.

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