Economy

Vice-Premier Wang meets US lawmakers

(Xinhua)
Updated: 2011-05-12 16:08

WASHINGTON -- Chinese Vice-Premier Wang Qishan met Tuesday and Wednesday in Washington with 20 lawmakers in the US House of Representatives including Dave Camp, chairman of the Ways and Means Committee, Congressmen Charles Boustany and Rick Larsen who co-chair the US-China Working Group in the lower chamber.

Wang, together with Chinese State Councilor Dai Bingguo, US Secretary of State Hillary Clinton and Secretary of Treasury Timothy Geithner, co-chaired the third round of China-US Strategic and Economic Dialogue (S&ED), which concluded Tuesday.

Wang told US lawmakers that during the two-day dialogue, China and the US delegations made earnest efforts to implement the consensus reached by Chinese President Hu Jintao and US President Barack Obama in January during Hu's state visit to the US and yielded substantial results.

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The two sides signed the US-China Comprehensive Framework for Promoting Strong, Sustainable and Balanced Growth and Economic Cooperation, which will greatly advance the development of China-US economic partnership based on mutual benefit, he noted.

The framework, regarded as one of the most important outcomes of this high-level dialogue, aims at promoting strong, sustainable and balanced growth, as well as strengthening macroeconomic-policy communication and coordination between the world's two largest economies.

Wang said that with the expansion and deepening of China-US economic ties, it's nothing unusual that clashes occur during their cooperation. The two countries should enhance communication and understanding to avoid politicizing economic issues.

The vice premier noted that more and more American enterprises are making investment in China in recent years with increasing profits. Likewise, Chinese enterprises are expanding their investment in the US.

The fact bears it out that investment environment in China continues to improve, and economic cooperation between China and the US benefits both countries, he said.

Wang told the lawmakers that the Chinese government unswervingly continues its opening-up policy and creates favorable environment for foreign enterprises, including those of the US, to invest in China.

He stressed that China does not pursue trade surpluses against the US, and is willing to import more American products. At the same time, Washington should relax high-tech exports control towards China, a move that is to benefit both sides, he added.

Lawmakers present at the meeting called the third S&ED a success. They recognized that US-China relationship is very important given the significant influence the two countries have over the world.

Lawmakers said they hope the two countries, through the mechanism of the S&ED, to strengthen communication and coordination, work together to solve problems in their economic cooperation, and further advance US-China economic relationship.