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Home>>China >> China & World
13:07, December 04, 2008

China, U.S. start strategic economic dialogue amid financial crisis


Chinese Vice Premier Wang Qishan (R) shakes hands with U.S. Treasury Secretary Henry Paulson, both as special representatives of presidents of the two countries, before the opening ceremony of the Fifth China-US Strategic Economic Dialogue in Beijing, capital of China, Dec. 4, 2008. (Xinhua Photo)

China and the United States started their fifth strategic economic dialogue (SED) in Beijing amid the deepening global financial crisis and transition in the U.S. government.

Chinese Vice Premier Wang Qishan and the U.S. Treasury Secretary Henry Paulson co-chaired the dialogue on Thursday morning as special representatives of President Hu Jintao and President George W. Bush.

"The most pressing issue we have to deal with is coping with global financial turmoil," Wang said before going behind closed doors.


Chinese Vice Premier Wang Qishan (2nd L), as special representative of president of China, shakes hands with a U.S. representative before the opening ceremony of the Fifth China-US Strategic Economic Dialogue in Beijing, capital of China, Dec. 4, 2008. (Xinhua Photo)

"It is imperative for us to work together to implement the consensus reached at the G20 summit," Wang said, referring to a financial meeting of leaders from the 20 richest countries and emerging economic markets in Washington D.C. in mid November.

"Our meeting this week will focus on the building blocks for enduring the U.S.-China economic partnership," Paulson said in his opening address.

"We will continue to work on strategies for managing macroeconomic risks and promoting balanced growth, on open investment and trade policies, including strengthening products, food and drug safety, on our respected roles in international institutions and to strengthen cooperation in energy and the environment."


U.S. Treasury Secretary Henry Paulson (2nd L), as special representative of president of the U.S., shakes hands with a Chinese representative before the opening ceremony of the Fifth China-US Strategic Economic Dialogue in Beijing, capital of China, Dec. 4, 2008. (Xinhua Photo)

"For the first time during the SED, the United States and China will focus on how we work together through international forums to strengthen the global economic system," said Paulson. This is his final round of SED talks with China.

Initiated by the two presidents in 2006, the twice-yearly SED is the highest-level of dialogue between the two nations.

Source: Xinhua

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