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China, U.S. should manage own affairs well first: vice premier

(Xinhua)

16:29, May 03, 2012

Chinese Vice Premier Wang Qishan addresses the opening session of the fourth round of the China-U.S. Strategic and Economic Dialogue in Beijing, capital of China, May 3, 2012. (Xinhua/Xie Huanchi)

BEIJING, May 3 (Xinhua) -- Chinese Vice Premier Wang Qishan said Thursday that China and the United States have to, first and foremost, manage their own affairs well amid a "complex and grim" world economic situation.

Wang made the remarks when addressing the opening session of the Economic Dialogue of the fourth round of China-U.S. Strategic and Economic Dialogues, which kicked off Thursday in Beijing.

"We are glad to see the positive signs of recovery in the U.S. economy and the steady and fairly fast growth of the Chinese economy. Our two sides need to assess the situation in a level-headed way," Wang said.

He urged more efforts from both sides to enhance coordination of macro-economic policies, work together to meet global challenges, and ensure economic growth and job creation in both countries so as to contribute to a strong and sustainable recovery of the world economy.

Wang noted that the Chinese and American economies are interdependent and highly complementary, and there are broad common interests between the two countries.

China and the U.S. differ in national conditions and development stages and there exists a big gap between the two nations in terms of both soft and hard power, but they both face the arduous task of shifting growth pattern and adjusting economic structure, according to Wang.

China is implementing the 12th Five-Year Plan. It is endeavoring to strike the right balance between the speed of growth and the structure, quality and efficiency of the economy, he said.

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