By Jiang Wei (China Daily)
Updated: 2007-05-25 06:41

Chinese Vice Premier Wu Yi speaks during her only major policy speech in Washington, at a dinner hosted by the U.S.-China Business Council and the U.S. Chamber of Commerce, May 24, 2007. [Reuters]

WASHINGTON: As Sino-US trade continues to boom, it is inevitable that disputes and disagreements crop up.

But China and the United States should handle trade irritants through dialogue and negotiations, Vice-Premier Wu Yi said yesterday during talks with US President George W. Bush at the White House.

Bush agreed, saying: "There are areas where there's friction, and we just got to work through the friction."

He said the just-concluded China-US Strategic Economic Dialogue is "important" and some progress has been achieved.

"This is an important dialogue. And it's one that I thank the Chinese government for engaging in."

But he urged China to revalue its currency.

Earlier, Chinese central bank chief Zhou Xiaochuan, who is accompanying Wu on the US trip, said he believes the pace of reform of the yuan exchange rate "is good".

"We agree on the general direction of currency reform," Zhou told reporters on Wednesday in Washington. "There's probably a little bit of difference on how fast we should go."

Wu also met US House Speaker Nancy Pelosi and senior members of the House of Representatives on Wednesday.

She said the China-US relationship is one of the most important bilateral relations in today's world; and it would serve the interests of the two peoples if China and the US keep enhancing their mutual trust and cooperation.

"We should take care of the other party's concerns, and bear in mind the principle of development, equality and mutual benefit," said Wu.

Pelosi and senior House members agreed that US-China relations matter a great deal to the two countries and the rest of the world, and they should seek a bright future whatever disputes might arise.

Agencies contributed to the story

(China Daily 05/25/2007 page1)