BEIJING (BLOOMBERG) – Face-to-face negotiations between the top Chinese and US trade negotiators could happen soon, according to Chinese state media, after a number of goodwill gestures by Beijing over the weekend.

Chinese companies asked US exporters about buying agricultural products and also applied for exemptions from China’s retaliatory tariffs on the goods, state-run Xinhua News Agency reported on Sunday (July 21).

That shows China’s “goodwill” and its commitment to fulfill its promises to the US, Xinhua said on Monday in a separate commentary.

The two sides have been “cautiously showing each other sincerity and goodwill” recently and may meet for discussions soon, according to Taoran Notes, a blog run by the state-owned Economic Daily newspaper.

In China’s eyes, the US exclusions from punitive tariffs imposed on some Chinese goods and its push to allow American companies to supply Huawei Technologies Co were positive signals to advance the talks, according to both Xinhua and Taoran.

With China’s top leadership likely to be out of Beijing from early August for their annual seaside conclave, it is highly likely that a meeting between Vice-Premier Liu He and his US counterparts is not far away, according to the Taoran Notes post on the WeChat platform.

The two sides spoke by phone last Thursday to discuss “the next step of negotiations,” indicating a move towards face-to-face talks, Taoran said.

The call last week was the second since the two nations’ presidents met in Japan in late June.

Separate to the possible agricultural purchases, China announced on Saturday new measures to further open up the nation’s financial sector to foreign investors.

Foreign companies will be able to take a stake in or control entities including wealth management units of commercial lenders, pension fund managers and currency brokers.

The changes weren’t announced as directly related to the trade talks with the US, but American criticism of China’s protection of various domestic markets is a core issue in the ongoing trade tensions.

Still, there was a note of caution in the reports. Taoran said the tariffs imposed on Chinese products must be entirely removed or they would be an irritant during the talks.

The removal of the tariffs is one of three core conditions that China has made for any deal.

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