First China-US Strategic Economic Dialogue constructive

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Source: CCTV.com | 12-15-2006 15:29

The 2-day China-US Strategic Economic Dialogue has wrapped up in Beijing. China's currency reform and trade imbalances were among the topics discussed. Zhang Lu tells us what kind of progress was made.

Both Chinese Vice Premier Wu Yi and the US Secretary of Treasury described the two-day meeting as successful and constructive. The 2-day dialogue focused on "China's development road and economic development strategy".

Wu Yi said, "We choose this as the theme because we feel that many people from the US know little about China and misunderstandings often occur. We hope that the talks will help the US to understand China's development path, as well as where it will lead to in the future. China's growth is not a threat to the US, instead, it provides opportunities for the whole world."

Wu Yi said that consensus was achieved during the dialogue but differences still remain."It's understandable that differences exist, because China and the US, as the largest developing and developed countries in the world, are different in many aspects. But the key is how we treat these disputes. I believe we should address the problems with mutual respect, equality and mutual benefits. "

A wide range of topics was discussed at the meeting, but focal points were China's currency reform, trade imbalances, market access and IPR protection.

US Secretary of Treasury Henry Paulson expressed, “We don't expect to resolve all disputes through one talk, efforts are needed from both sides.”

China's total trade surplus for the first 11 months of this year was some 156 billion US dollars, higher than the total for last year. China said IF the US could relax restrictions of high-tech exports to China, the situation would be eased.

The two-day talk is the highest-level among all existing China-US dialogue and consultation mechanisms. The two sides agreed to hold a second SED in Washington in May of next year.

Editor:Ji Xuewen