U.S. President Donald Trump said on Friday that trade talks with China were going very well, but cautioned that he would not accept anything less than a "great deal" after top U.S. and Chinese trade officials wrapped up two days of negotiations in Beijing.

Both sides reported progress in the talks and China also approved majority-owned brokerage joint ventures for U.S. bank JP Morgan Chase and Japan's Nomura, a step toward meeting U.S. demands for more access to China's financial services market.

"The trade deal is going very well," Trump told reporters at his Mar-a-Lago resort in Florida.