Vice Premier Liu He, at their invitation, talked with US trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Saturday to iron out the details of what the two sides have agreed so far.

Saturday's talk has eased concerns that the two sides were getting cold feet and were backing away from any commitment.

According to a statement released by the Chinese side, Saturday's conversation was "constructive", and the two sides have agreed to maintain close communication.

It shows that the atmosphere for China-US talks remains sound and smooth and both sides are keen to realize a first phase deal, which would provide a good foundation for further discussions.

As Henry Kissinger, former US secretary of state, rightly said at the National Committee on US-China Relations on Thursday, the future of the whole world depends on the capacity of Chinese and US leaders to "analyze the challenges together, to work out solutions, and to manage the inevitable difficulties".

Indeed, the US-initiated trade dispute with China has evolved into a global trade and economic nightmare and if tensions continue unchecked, the situation will only get worse.

Therefore, the message that a phase one deal is still on the cards is a positive sign that the two sides can take a giant step toward easing the tensions between them.

The key now is for the two sides to maintain close contact and adopt a pragmatic and constructive approach to ensure that the lack of a deadline for signing an agreement does not become an excuse for taking their eyes off the ball.

It was anticipated that the two presidents would sign the phase one deal on the sidelines of the APEC meeting in Chile. But Chile put the kibosh on that by withdrawing as host for the event.

Since early last year when China and the US began to be locked in a prolonged confrontation, there had been occasions when the two nearly reached a deal. However, they missed these opportunities to solve their disputes.

It is to be hoped that is not the case this time. Certainly, from what has been said, it seems the two sides are in constant communication and taking it as an opportunity to remove the devil from the details.

China has consistently advocated a consultation-based solution, and if the US side shows true sincerity and takes concrete steps to fulfill its side of any bargain, there should be no doubt that it will be set out in black and white ready for the two leaders' signatures.