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Core interests at heart of new US ties (2)

By Li Xiaokun and Zhang Yunbi (China Daily)

08:27, March 20, 2013

Beijing wants to "open a path of new relations between major countries", he said.

Liu Hui, a researcher on US studies at the Chinese Academy of Social Sciences, said Xi mentioned "core interests" because in the past Washington's attitude on issues concerning the East China Sea and South China Sea irritated Beijing.

"It is a polite yet firm request for Washington to ensure China's national interests and achieve equality in that regard," Liu said.

Xi also said on Tuesday intertwined economic interests are the "cornerstone" of bilateral ties.

Bilateral trade reached a record high of $484.68 billion in 2012, a year-on-year growth of 8.5 percent.

"Both sides should take an objective look at the other's stage of development, respect each other's development interests, and take each other's opportunities and challenges as their own", Xi said, according to the ministry release.

The academy's Liu said Xi was referring to China's concerns in the economic field including barriers obstructing Chinese investment in the US.

Lifting Washington's ban on exporting hi-tech products to China and having it grant market economy status to China are also among Beijing's pursuits, Liu said.

"China and the US are now positioned at their respective phase of development, and if Washington refuses to share more of its comparative advantage, such as leading technology, the trade deficit which is now Washington's biggest headache in bilateral ties will remain unchanged," Liu said.

In response, Lew told Xi that Washington attached great importance to the concerns of Beijing.

Lew is traveling not only as US treasury secretary but also as a "special representative" of US President Barack Obama, and the Associated Press suggested he might be responsible for a wider range of issues than just finance.

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