Editor's note: The Osaka meeting between President Xi Jinping and his US counterpart Donald Trump on Saturday produced the desired results as both leaders agreed to restart the trade negotiations on the foundation of equality and mutual respect, and the US said it will not impose new tariffs on imports from China. Zhong Sheng, a columnist for People's Daily, comments:

The consensus reached between the two leaders has raised fresh hopes that the world's two largest economies can resolve their trade dispute through negotiations.

Hopefully, Trump can understand what Xi reiterated－that the trade and economic cooperation between China and the US is mutually beneficial and brings about win-win results, as the two sides have huge overlapping interests. This defines the essence of Sino-US relations. The two countries should become good partners, which is favorable not only to the two countries themselves, but also the whole world.

Only by accurately grasping the fundamental issues of Sino-US relations can we steer the development of bilateral relations in the right direction. It should be evident that the two largest economies of the world should promote bilateral relations based on coordination and cooperation.

The two countries should further explore and activate all possible positive factors that can broaden their bilateral cooperation and build up constructive momentum that is in line with their common interests and the people's shared aspirations for common development.

Only by fully understanding the core issues of Sino-US relations can we create the right environment for bilateral ties to develop in a positive direction. It is clear that Beijing and Washington should carry on the good work of the two leaders in Osaka.

Despite having some divergences, which is natural in relations between countries, the two sides should always bear the bigger picture in mind and uphold rationality to avoid any strategic miscalculation. It is a common responsibility for both Beijing and Washington to better manage and control their differences so as to avoid temporary shortsightedness causing irreversible historical errors.

All sensible minds should agree that it is urgent that the two countries refrain from falling into the trap of conflicts and confrontation, and decision-makers of the two countries should make joint efforts to create favorable conditions for the building of a path leading to common development.

Now is the time for the two sides to act on their promises and make their actions deliver. The past tit-for-tat trade frictions show that neither side will be left unscathed, not to mention emerge stronger, in the process. The strong mutual trust of the two leaders as well as their consensus on mutual respect and win-win Sino-US ties should instill the desire in their respective negotiation teams to find a way out that both sides can accept as soon as possible.