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"For the first time in months, the United States and China are moving in the right direction on tariffs and we congratulate negotiators from both sides," David French, NRF senior vice president for government relations, said in a statement.

"For the sake of your and your families' health, for the economy, as well as employment and livelihood, please actively take part" in the program, Leung wrote in a social media post on Saturday.

"Further education, like monthslong training sessions, are also necessary for the management levels to broaden their knowledge on new technologies."

"Fiscal policy must contribute to achieving these goals through a progressive and efficient taxation system, and effective and equitable public spending," the report said.

"From China's perspective, the pledges made by both sides in the dialogue are encouraging. It helps to show that China is supporting multilateralism and will continue to open up further to foreign companies," Tommy Wu, an economist with British think tank Oxford Economics, said on Tuesday.