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However, a senior Trump administration official on dismissed the report as untrue, a CNBC reporter said in a post on Twitter.

"Both leaders attach great importance to China-US ties and economic ties", Lu said.

In recent months China has repeatedly questioned the US's sincerity in trade talks, wary of agreeing to something only to have Trump change his mind.

Chinese President Xi Jinping had an "extremely positive" phone conversation with US President Donald Trump about trade and other issues, the foreign ministry said Friday.

"He wants to do it", Mr Trump said of Mr Xi.

The commodity has lost around 15 percent from four-year highs at the start of last month as Russian Federation and OPEC said they would bolster output and dealers grew concerned about the impact on demand from a trade war between China and the US.

On Thursday, the U.S. accused a Chinese state-owned company of conspiring to steal trade secrets of USA chip-maker Micron Technology Inc as part of a Justice Department crackdown against China in cases of suspected economic espionage.

India ranks 1st among South Asian countries in Ease of Doing Business
The latest ranking of 190 countries was topped by New Zealand followed by Singapore and Denmark . Enforcing Contracts and Getting Electricity saw milestone reforms, with 49 and 26, respectively.

It was unclear if Trump was easing up on United States demands that China has resisted.

Xi told Chinese state media on Thursday that he was willing to meet Trump at the summit and hoped to promote a steady relationship.

Jacob Parker, vice president of China operations at the U.S.

Xi on Thursday said he looks forward to meeting with Trump at the G20 in Argentina, according to China's state media.

President Trump has made very clear to China that they must change their "unfair" trade practices including theft of US intellectual property.

Tu Xinquan, a trade expert at Beijing's University of International Business and Economics, said he was sceptical that the Trump administration was truly ready to deal, and that other factors, such as the mid-term congressional elections, could be driving statements from the administration. "But the tariffs already imposed will not go away", Tu said. That will be led by the agency's National Security Division head, John Demers, and will increase the use of Justice Department tools to counter China's activities, the official said.

A Justice Department indictment targeted two companies based in China and Taiwan and three individuals, saying they conspired to steal trade secrets from US semiconductor company Micron Technology Inc. They also agreed to meet on the sidelines of the Group of 20 summit meeting in Buenos Aires, Argentina, at the end of the month. He gave no indication whether they made progress on settling an escalating tariff war over Beijing's technology policy. In response, Beijing said it would impose taxes on 5,207 USA imports worth about $60 billion.