Commerce chiefs from China and the United States agreed to enhance communication during their "candid" talks held in Washington, D.C. on Thursday.

Chinese Commerce Minister Wang Wentao also conveyed "key concerns" regarding Washington's economic and trade policies towards China, specifically regarding the semiconductor policy, export control, and review of outbound investment, according to a statement released by the Chinese Ministry of Commerce.

The bilateral talks represent the latest efforts between the world's two largest economies to achieve economic reconciliation.

"The two had candid and substantive discussions on issues relating to the U.S.-China commercial relationship, including the overall environment in both countries for trade and investment and areas for potential cooperation," the U.S. Department of Commerce said in a statement.

The two top commerce officials also agreed to establish communication channels to address specific economic and trade concerns, as well as cooperation matters.

Beijing has emphasized the need to "normalize" Sino-U.S. economic and trade ties, highlighting the extensive common interests and cooperation opportunities between the two countries. Wang, in an online conversation with U.S.-China Business Council President Craig Allen earlier this year, urged the U.S. to swiftly restore bilateral trade relations to the right track.