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China, US hold talks on bilateral economic ties

(Xinhua)
Updated: 2008-04-02 16:13

Chinese Vice Premier Wang Qishan began talks with US Treasury Secretary Henry M. Paulson Wednesday morning on advancing the process of the China-US Strategic Economic Dialogue (SED) and bilateral economic ties.

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During the talks held in the Great Hall of the People, Wang said Paulson's visit so soon after China's government reshuffle showed that Paulson attached great importance to the China-US relations and the SED.

China and the United States have reached many agreements since the establishment of the SED, which made a great contribution to the development of mutual trust and the steady growth of bilateral relations, Wang said.

He said it is his first time to talk with Paulson after taking office and as the special representative of President Hu Jintao, adding he is willing to have "an in-depth exchange of views" with Paulson, who is also special representative of US President George W. Bush.

Paulson said the two sides "have much to accomplish" and he looked forward to working with Wang to make progress as they move forward.

"President Hu and Premier Wen will squeeze time from their tight schedules to meet you, which fully demonstrates the importance the new Chinese government attaches to mutually beneficial and constructive China-US relations," Wang said.

Wang, the former mayor of Beijing, was recently appointed one of four vice premiers at the National People's Congress, China's top legislature.

He is expected to replace his predecessor Wu Yi to take charge of financial affairs, including the China-US SED.

Paulson, who arrived in Beijing earlier Wednesday morning for a two-day visit, is scheduled to meet President Hu, Premier Wen Jiabao and other senior officials.

Prior to his visit, Paulson told reporters he intended to visit China because of the change of leadership after China's 11th People's Congress and to meet with counterparts, new leaders, president and premier to talk about the SED.

China and the United States had agreed to hold their fourth round of the SED in Washington in June this year. Wang and Paulson are expected to jointly preside over the dialogue.

Launched in September 2006, the biannual economic strategic dialogue between Beijing and Washington serves as a platform to discuss long-term, strategic and comprehensive issues in the bilateral trade relationship.