3rd China-US SED concludes with complete success

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Source: CCTV.com | 12-14-2007 08:21

Chinese Vice Premier Wu Yi (C Front) and United States Treasury Secretary Henry Paulson (6th L Front) pose for a photo with Chinese and U.S. delegates to the Third China-U.S. Strategic Economic Dialogue in Beijing, Dec. 13, 2007. The two-day meeting was concluded on Thursday. (Xinhua Photo)

The third China-US Strategic Economic Dialogue concluded on Thursday. Vice Premier Wu Yi said the mechanism is of strategic importance while US Treasury Secretary Henry Paulson described it as a proven forum for progress.

Speaking at the press conference following the two-day closed-door meeting, Vice Premier Wu Yi said the dialogue is bound to exert important influence on future business and trade ties between China and US.

Wu Yi said, "Both sides need to discuss China-US economic relations from a strategic point of view and map out a better blueprint for future China-US economic ties and cooperation."

US Treasury Secretary Henry Paulson described the discussion as substantive and robust and said the quality of the talks has improved over the last year.

Henry Paulson said, "We discussed the importance of balanced growth in both of our nations, and the role of competitive markets in spreading the benefits of growth to all our people. We also both recognize the need to fight economic nationalism and protectionism in our two nations."

As outcomes of the discussions, several agreements were reached in food safety and product quality, balanced growth and investment. The two also agreed to work together in achieving energy efficiency and security and a cleaner environment.