U.S. President Donald Trump and Chinese Vice Premier Liu He, who is also a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-U.S. comprehensive economic dialogue, show the signed China-U.S. phase-one economic and trade agreement during a ceremony at the East Room of the White House in Washington D.C., the United States, Jan. 15, 2020. (Xinhua/Wang Ying)

WASHINGTON, Jan. 15 (Xinhua) -- China and the United States formally signed their phase-one economic and trade agreement here on Wednesday, with Chinese Vice Premier Liu He and U.S. President Donald Trump inking the papers in the White House.

Speaking at the signing ceremony, Liu, also a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-U.S. comprehensive economic dialogue, first conveyed a message of Chinese President Xi Jinping to Trump.

The conclusion of the phase-one economic and trade agreement is good for China, for the United States and for the whole world, Xi said in the message read out by the vice premier.

"It also shows that our two countries have the ability to act on the basis of equality and mutual respect, and work through dialogue and consultation to properly handle and effectively resolve relevant issues," read the message.

In the next step, the two sides need to implement the agreement in real earnest and optimize its positive impact, so as to make even greater progress in China-U.S. trade and economic cooperation, the Chinese president said.

To maintain healthy and steady growth of China-U.S. relations serves the interest of both countries and requires joint efforts from both sides, Xi said.

In that spirit, Xi voiced hope that the U.S. side will treat fairly Chinese companies and their regular economic, trade and investment activities, and give support to the collaboration between enterprises, research institutes, and schools and colleges of the two countries, as it will help enhance mutual trust and cooperation between the two sides.

"China is prepared to work with the United States in that direction. And I will stay in close touch with you personally," Xi said. "I believe that under our guidance, China-U.S. relations will deliver more results and bring greater benefits to our peoples in the year ahead."