"We are exploring the areas in which cooperation between US and China, two major economies, can make a positive and practical impact both on the well-being and lives of the citizens of both our countries, but also in the region and in the global economy and in the global context," Russel said.
He said the two countries are working hard to develop a candid dialogue. "There are areas of disagreement, and we need to make sure that we understand the motivations and objectives of the other side," he said.
Russel said such a spirit was behind the Sunnylands summit between President Xi Jinping and US President Barack Obama in California in early June, as well as the fifth China-US Strategic and Economic Dialogue in Washington 10 days ago.
"The US and China don't agree on everything, of course, but we talk about everything," he said.
Russel accompanied US Secretary of State John Kerry to China in April. He also attended the opening session of the dialogue.
Russel described the willingness of senior officials to talk directly and constructively on regional and multilateral meetings as "emblematic of the determination of both sides to ensure the lines of communication between our two nations are wide open".
"It is clearly my belief and my impression that maintaining a good line of communication between Washington and Beijing is also a priority for other countries in the region," he said.
He said countries throughout the region expect and want the US and China to maintain high-level dialogue and practical cooperation to help generate positive results.
Bonnie Glaser, a senior adviser for Asia at the Center for Strategic and International Studies, said the US and China should continue to try to promote cooperation where their interests converge, and to manage disputes on issues where they disagree.
"President Obama remains committed to developing a positive relationship with China as well as to the US rebalancing to Asia," she said.
"It remains important for our leaders and senior policy officials to have frequent dialogue in person and by phone, to coordinate our respective policies," Glaser said.
Russel said he came away from the recent dialogue with a sense of continued progress, when the two countries talked about hot issues such as the denuclearization of the Korean Peninsula, Syria, climate change, cyberspace, human rights, maritime security and the relationship between US and Chinese militaries.
He described the dialogue as underscoring the global reach and global impact of the world's two largest economies.
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