Beijing, Nov 21 (IANS): China on Thursday said it's striving for an initial "phase one" deal with the US as both sides continue to maintain close communication.

"China is ready to work with the US side to properly address each other's core concerns on the basis of equality and mutual respect and will strive to reach a 'phase one' deal, which serves the interests of both countries and the rest of the world," Xinhua quoted Chinese Commerce Ministry Spokesperson Gao Feng as saying to reporters.

"There is no further information on details of the consultation over the deal, but hearsay about the issue is not accurate," he said.

Chinese Vice Premier Liu He, a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-US comprehensive economic dialogue, held a phone conversation at the request of US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Saturday morning.

During their talks, the two sides had constructive discussions on each other's core concerns in the "phase one" deal, Feng said.