BEIJING, May 17 (Xinhua) -- China hopes for positive and constructive outcomes from the ongoing Sino-U.S. economic and trade consultations, the Ministry of Commerce (MOC) said Thursday.

"We hope that the two sides can meet each other halfway, and properly resolve disputes and manage differences through consultations, based on the principle of mutual respect and equal consultation," MOC spokesperson Gao Feng said at a press conference.

Gao also expressed hope that the two sides would make joint efforts to advance bilateral economic and trade cooperation.

China does not want to see escalating Sino-U.S. economic and trade friction, but is prepared for all possible scenarios, Gao added.

Chinese Vice Premier Liu He arrived in Washington on Tuesday afternoon for economic and trade consultations with the U.S. side at the invitation of the U.S. government.

Gao said China will expand the opening of its market in a proactive, steady and orderly manner, in accordance with its own development need, its own pace and timetable, to benefit both the Chinese people and people across the world.