Beijing, May 2 (IANS): China welcomes the upcoming visit by a US delegation led by Treasury Secretary Steven Mnuchin slated to arrive here on a two-day visit on Thursday, authorities said on Wednesday.

Chinese Vice Premier Liu He will exchange views on China-US economic and trade issues of common concern with the delegation, reports Xinhua news agency.

The delegation include US Ambassador to China Terry Branstad, Commerce Secretary Wilbur Ross, and US Trade Representative (USTR) Robert Lighthizer, the White House said in a statement on Monday.

China values the willingness the United States has shown to address the current trade friction through dialogue and communication, Chinese Premier Li Keqiang had said last week.

"There is no winner in trade conflict, which will not only affect the recovery of the world economy but also the global industrial chain," Li said, adding that solutions can only be found when both sides sit down for dialogue.

The Trump administration has recently threatened to impose tariffs on up to $150 billion of Chinese imports, while China has vowed to retaliate against US exports if Washington moves forward with the tariffs.

Trade analysts have warned that unilateralism and trade protectionism will inevitably harm others without benefiting oneself as the global economy is deeply integrated.