China had wielded its threat of veto, calling for the resolution to include a reference to President Xi's effort to reinvent the ancient Silk Road connecting Asia with Europe and Africa through massive investments in maritime, road and rail projects.
The officials agreed to "work together and take practical actions to create favourable conditions for consultations", the Chinese commerce ministry said in a statement.
The ongoing economic row has reportedly hit most US farmers and manufacturers, many of whom are supporters of US President Donald Trump.
The Trump administration has not yet granted any licences for sales to the blacklisted company
Yields on benchmark 10-year Treasury notes dropped to their lowest since mid-2016 as the latest salvos in the China-US trade war shook confidence in the world economy and sent investors to the safe harbour of gold.
The extension renews an agreement set to lapse on August 19, continuing the Chinese company's ability to maintain existing telecommunications networks and provide software updates to Huawei handsets.
China's ambassador to the United Kingdom said Beijing would use its power to quell Hong Kong protests if the situation deteriorates further.
The US president linked a humane resolution to anti-Beijing protests to China trade deal in tweets as Hong Kong activists plan more mass rallies this weekend to show their movement maintains public support despite disruptive sit-in at the airport.
The airport, one of the world's busiest, blamed demonstrators for halting flights on Monday, but the exact trigger for the closure was not clear as protesters occupying the arrivals hall for the past five days have been peaceful.
Anti-government demonstrators have kicked off a new mass protest, defying increasingly stern warnings from China over weeks-long unrest that has plunged the city into crisis.
China's first engaged the Taliban to protect its interests in Afghanistan in the 90s. Decades later, history repeats itself.
Huawei was placed by Washington on a blacklist in mid-May that effectively blocks US firms from doing business with the Shenzhen-based firm.
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