(Yicai Global) Aug. 4 -- China's ministry of commerce (Mofcom) has responded to the US government's calls for a trade investigation into alleged piracy, intellectual property rights (IPR) protection violations and unfair trade practices, by stating that China has always placed due emphasis on IPR and it calls for all World Trade Organization (WTO) members to comply with all current trade regulations.

Bilateral trade ties are the cornerstone and a key driver of China-US relations. Cooperation is in the interests of both countries, and confrontation will bring harm to both sides, Mofcom spokesperson Gao Feng said in a press conference yesterday. China will work with the US in line with its firm commitment to cooperation, Gao said.

China's President Xi Jinping and US President Donald Trump indicated their intention to work together to promote economic and trade ties during their meetings at the Mar-a-Lago estate in the US, and in Hamburg, Germany.

Both sides have achieved important results over the past three months through the effective implementation of the China-US Economic Cooperation 100-Day Plan, with the first China-US Comprehensive Economic Dialogue taking place successfully.

The dialogue indicated bilateral economic cooperation is moving in the right direction and the governments have agreed to start a one-year plan to achieve initial results in this area/field. China aims to keep the momentum going by promoting joint efforts between the two countries, Gao added.

The global economy is on track for a recovery, but significant uncertainties and unstable factors still remain. The Chinese economy delivered impressive results in the first half of this year, giving a significant boost to the recovering world economy.

China and the US are the biggest global economies and major players in international trade. The Chinese government is willing to work together with the US to inject fresh momentum into the global economy by continuously improving economic and trade ties, Gao said.