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China, U.S. start 1st strategic economic dialogue(12/14/06)

China and the United States on Thursday morning kicked off their first strategic economic dialogue, the latest sign of bilateral efforts to boost their long-term relationship.

Chinese Vice Premier Wu Yi (R front) meets the U.S. Treasury Secretary Henry Paulson in Beijing, Dec. 14, 2006, on the first strategic economic dialogue between China and the U.S.(Xinhua Photo)
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     China and the United States on December 14 morning kicked off their first strategic economic dialogue, the latest sign of bilateral efforts to boost their long-term relationship.

    Chinese Vice Premier Wu Yi and the U.S. Treasury Secretary Henry Paulson co-chaired the dialogue as special representatives of President Hu Jintao and President George W. Bush.

    "The dialogue is a significant event in China-U.S. trade relationship. It is conducive to enhancing trust and dispelling suspicion to strengthen the dialogue between China and the United States in the economic field," Wu said at the beginning of the meeting.

    She said the dialogue would focus on the discussion of "global, strategic and long-term" macro-economic issues of common concern.

    The United States would like to forge mutually beneficial trade ties with China as China has integrated into the global economic system, Paulson was quoted as saying in a statement released by the Chinese Foreign Ministry.

    Paulson hailed the dialogue as a platform for the two countries to cope with strategic issues in economic relationship, the statement said.

    The two-day dialogue focused on "China's development road and economic development strategy," the statement said.

    The meetings are the first under a twice-a-year strategic economic dialogue mechanism, which was launched in the Chinese capital in September.

    The Chinese and U.S. officials will have extensive and in-depth discussions on a wide range of topics, including balanced development between urban and rural areas, sustainable development, trade, investment, energy and environment issues.

    In her key-note speech entitled "China's Development Road" Thursday morning, Wu said, "I hope the dialogue will enable you to have a relatively comprehensive and systemic perspective of China, a better knowledge of our country, thus enhancing our mutual understanding and trust."

    Her speech elaborated on China's adherence to peaceful development, industrialization, reform and opening up.

    The two-day dialogue will be divided into several sessions of
China and the United States on Thursday morning kicked off their first strategic economic dialogue, the latest sign of bilateral efforts to boost their long-term relationship.

Chinese Vice Premier Wu Yi (R) shakes hands with the U.S. Treasury Secretary Henry Paulson in Beijing, Dec. 14, 2006. (Xinhua Photo)
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China's development path, balanced development between urban and rural areas, sustainable development, trade, investment, energy and environment issues.

    The meetings are the first under a twice-a-year strategic economic dialogue mechanism, which was launched in the Chinese capital in September.

    Wu and Paulson held a 15-minute closed-door session before they officially started the dialogue.

    The Chinese delegation to the dialogue include more than 10 ministers of finance, development and reform, science, labor, railways, communications, health, environment, central bank and Chinese ambassador to the United States.

    Among Paulson's delegation are U.S. cabinet secretaries of commerce, labor, energy and health and human services.

    The high-profile delegation also include Ben Bernanke, chairman of the U.S. Federal Reserve Bank, who is paying his first visit to China. The U.S. Trade Representative Susan Schwab also took part in the meetings.

    President Hu and Premier Wen Jiabao will meet with the U.S. delegation Friday afternoon.

    The dialogue is the highest-level one among the existing China-U.S. dialogue and consultation mechanisms.

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