Economy

Vice-premier Wang announces greater economic co-op with US

(Xinhua)
Updated: 2011-05-11 15:32

WASHINGTON -- Chinese Vice-Premier Wang Qishan said here Tuesday that the just-finished China-US high-level talks have paved the way for the two countries to further boost economic cooperation.

The third round of the annual China-US Strategic and Economic Dialogue, held in Washington on Monday and Tuesday, was "a great success" with a host of win-win outcomes, Wang said at a press conference.

"Particularly, (US Treasury) Secretary (Timothy) Geithner and I signed a China-US comprehensive framework promoting strong, sustainable, and balanced economic growth and economic cooperation. Under the framework, the two countries will carry out an expanded, closer, and a more extensive economic cooperation," he said.

Against the backdrop of the "extremely complex economic environment," the vice-premier added, the two sides agreed to further step up macroeconomic policy coordination and communication and contribute to steady and sound economic growth in both countries.

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The world's two largest economies also conveyed their readiness to enhance cooperation in infrastructure construction, clean energy, scientific and technological innovation and other areas as they transform their respective growth models and economic structures, according to Wang.

In consideration of the sovereign debt crisis in Europe, the nuclear disaster in Japan and the turbulence in the Middle East, the two sides also highlighted the need to ensure a strong and sustainable world economic recovery, advance the reform of global economic governance and build a fair and reasonable international economic order, Wang said.

He added that the two sides also reaffirmed their commitment to build a more open trade and investment system. The United States pledged to relax its high-tech exports control towards China, and to consult through the China-US Joint Commission on Commerce and Trade in a cooperative manner to work towards China's market economy status in an expeditious and a comprehensive manner, he added.

The two sides also agreed to strengthen cooperation in bilateral investment treaty negotiation, intellectual property rights protection, food safety and product quality, Wang said.

The Chinese vice-premier added that the two sides also agreed to advance the Doha round of World Trade Organization negotiations, reject trade and investment protectionism and make joint efforts to improve the international financial sector.

"Through this round of economic dialogue, we increased our mutual understanding, expanded consensus and achieved fruitful results. This will give a strong boost to the growth of the China-US cooperative partnership based on mutual respect and mutual benefit," he said.