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U.S. Officials Hail Outcome of High-Level China-US Talks

(Xinhua)    10:18, June 09, 2016

US Treasury Secretary Jacob Lew speaks at a press conference held in Beijing on June 7, 2016. [Photo: CRIENGLISH.com/Li Linxi]

Chinese and American officials have both stressed the need to maintain high-level interaction to promote the sustainable, healthy and stable development of bilateral ties.

Chinese Premier Li Keqiang Tuesday met visiting U.S. Secretary of State John Kerry and Treasury Secretary Jacob Lew both of whom were attending the 8th U.S.-China Strategic and Economic Dialogues in Beijing.

Li Keqiang says China and the United States should jointly strive to deepen mutual trust and expand cooperation.

China's State Councilor Yang Jiechi, meanwhile, stressed that the two sides should respect each other's interests and strengthen communication via multi-level interaction, rather than "cultivate exclusive circles."

One of the agreements reached during this year's talks was that China agreed to allow US banks to join the growing number of institutions outside China that are permitted to clear yuan currency transactions.

US Treasury Secretary, Jacob Lew, says the decision will help US firms.

"The ability to do RMB transactions in the United States will be a real advantage to small firms in particular, and to large businesses that are not financial businesses. It will make it easier, it will make it cheaper."

For the first time, China has committed to giving the US an investment quota of 250 billion yuan, or 38 billion US dollars.

The quota will be used to buy Chinese stocks, bonds and other assets.

China has given quota allocations to a number of countries and regions but this will be the biggest granted to a single jurisdiction after Hong Kong.

Commenting on a recent legislation that requires overseas NGOs to secure approval from the Chinese authorities before operating on the Chinese mainland, US Secretary of State, John Kerry, says he's encouraged by remarks made by Chinese President Xi Jinping.

"What I heard directly from President Xi, actually - was that China intends to remain open, to stay open, to open up even more than it is today and that it does not see that these laws going to be applied in any way whatsoever, that affects the ability to open up and to do business and for people to feel confident about what they're doing here."

Acknowledging the disagreements between the two sides, Kerry says communication and cooperation have outweighed the differences.

And he believes regular and healthy exchange between the United States and China will exert a major influence on the global economy.

"Most of our discussions for the last couple of days, I think, were very productive. We didn't agree on everything, as I said in a statement this afternoon, and it's each of Chinese leaders said. We do have some differences, but what we did in the last two days was professionally and respectfully, I think thoughtfully. There are far more agreement than disagreement."

Both John Kerry and Jacob Lew have stated that the U.S. is willing to speed up negotiations on a bilateral investment treaty, and closely cooperate with China under the G20 framework.

Tuesday's talks in Beijing took place during the two-day Strategic and Economic Dialogues, which is an annual meeting between Cabinet-level officials in foreign affairs and trade.

US Secretary of State John Kerry speaks at a press conference held in Beijing on June 7, 2016. [Photo: CRIENGLISH.com/Li Linxi]

(For the latest China news, Please follow People's Daily on Twitter and Facebook)
(Editor:Ma Xiaochun,Bianji)

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