China, U.S. having tremendous capacity to grow together: U.S. official

13:11, May 05, 2011      

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The U.S. and Chinese economies have great potential to grow together and the two sides need to make concrete progress in bilateral cooperation, said a senior official of the U.S. Treasury Department on Wednesday.

"The Chinese and U.S. economies have tremendous capacity to grow together, tremendous complementarities between our strengths," Lael Brainard, undersecretary for international affaris of the Treasury Department, told Xinhua.

The upcoming Strategic and Economic Dialogue (S&ED) will "reflect the very positive tone of mutual cooperation" that was struck at the state visit by Chinese President Hu Jintao and U.S. President Barack Obama in January, she said.

The third meeting of S&ED, which will be held on May 9-10 in Washington DC, will see some concrete further progress on a deepening and broadening economic engagement between China and the U.S., said Brainard.

"China's growth depends very much on the good relationship with the U.S. and our ability to continue growing and generating jobs also depends on very strong bilateral relationship with China," Brainard said. "We have very strong mutual interests."

She noted that the U.S. will focus on the improvement of business environment, including some of China's industry policy -- the indigenous innovation, the intellectual property protection and currency issue. She also said that the two sides expect to see more progress in the two-way investment.

She emphasized that the U.S. welcomes more foreign direct investment from China.

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Source: Xinhua
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