Foreign Ministry Holds Briefing for Chinese and Foreign Media on the Second Round of China-US Strategic and Economic Dialogue

On May 20, 2010, the Foreign Ministry held a briefing for the Chinese and foreign media. Vice Foreign Minister Cui Tankai and Assistant Financial Minister Zhu Guangyao introduced the background, major content and significance of the second round of China-US Strategic and Economic Dialogue to be held in Beijing soon.

Cui said that the second round of China-US Strategic and Economic Dialogue is a recent major event of the China-US relations and draws wide attention from the media of the two countries and the world as well. Initiated jointly by President Hu Jintao and President Obama in April 2009, it is an important measure of promoting the development of bilateral relations to a new stage and aims at conducting in-depth communications on the strategic, long-term and big issues concerning the future development of bilateral ties. Both sides attach great importance to the dialogue mechanism. The first round was successfully held in Washington in July last year and the two sides reached many consensuses and achieved fruitful results. Since the beginning of this year, the two sides have maintained close communications and coordination on the preparations for the dialogue. They agreed to hold the second round in Beijing from May 24 to 25. Vice Premier Wang Qishan and State Councilor Dai Bingguo, as the special representatives of President Hu will co-chair the dialogue with Secretary of State Hillary Rodham Clinton and Treasury Secretary Tim Geithner who are President Obama's special envoys. The two sides will attend the opening ceremony, plenary session, signing ceremony of agreement and joint press conference. Wang will co-chair the economic dialogue with Geithner and Dai will co-chair the strategic dialogue with Clinton. The Chinese leaders will meet with the senior members of the US delegation.

The China-US relations have developed positively since the first round of China-US Strategic and Economic Dialogue was held in July last year. President Obama visited China successfully in November last year, the two sides issued the China-US Joint Statement which has important guiding significance to the bilateral relations in the new era, reiterated their commitment to building a positive, cooperative and comprehensive China-US relationship in the 21st century and taking tangible actions to forge the partnership of coping with common challenges. The bilateral pragmatic cooperation in such fields as economy and trade, energy, environment, culture, science and education has been strengthened and the two sides maintain close communications and coordination on the international, regional and global issues, such as the international financial crisis, climate change, disaster relief and disease control and prevention. Undoubtedly, China-US relations recently also face some unnecessary interruptions which undermined the common interest of both. With the joint efforts of both sides, the bilateral relations have come back to the normal development track. In particular, President Hu and President Obama met successfully on April 12 during the Washington Nuclear Summit, which has helped further improve the bilateral relations. A sound China-US relationship is beneficial not only to the two countries but also to the entire world. Under the current situation, to hold the second round of China-US Strategic and Economic Dialogue is of great importance to implementing the consensus reached by leaders of the two countries, enhancing the bilateral strategic mutual trust, expanding the mutually beneficial cooperation and advancing the building of a positive, cooperative and comprehensive China-US relationship in the 21st century. The Chinese side is willing to make joint efforts with the US to strengthen communications, increase mutual trust, deepen cooperation and jointly make positive outcome out of the second round of dialogue.

Cui said that in the strategic dialogue the two sides will make in-depth discussions on the bilateral relations and the international, regional and global issues. Under the framework of strategic dialogue, related departments from the two sides will hold consultations and bilateral meetings on energy security, climate change, UN peacekeeping operations and anti-terrorism issues. The Chinese side expects to reinforce mutual understanding, strategic mutual trust and cooperation on the bilateral, regional and global levels and push forward the bilateral relations along the track of positive cooperation through the dialogue.

Zhu introduced the economic dialogue under the framework of the second round of China-US Strategic and Economic Dialogue. He said that the dialogue is a strategic meeting held against the background that the international economic situation is turning for the better but still faces many uncertainties, especially the challenge of European sovereign debt crisis and of great importance to the sustained, healthy and stable development of China-US economic relations. The two sides will send ministerial officials to participate in the dialogue and discuss the strategic, long-term and major issues related with the bilateral economic relations.

The two sides agreed to set the theme of the second round of dialogue as "ensuring the China-US economic partnership with sustainable development and win-win cooperation". Focusing on the theme, the two sides will discuss the following topics: first, promotion of strong economic recovery and more sustained and balanced economic growth, mainly including to assess the latest development of world economic situation, especially the European sovereign debt crisis and its impact on the world economy, implement sustained financial policy, manage inflation expectations and promote structural readjustment; second, promotion of mutually beneficial and win-win trade and investment with focus on discussing how to build an open investment environment, advance open trade and oppose trade protectionism; third, financial market stability and reform. The two sides will mainly exchange views on the progress of financial regulation reform, development of financial sector and strengthening the bilateral and multilateral coordination and the role of financial sector in advancing the balanced economic development; fourth, international financial system reform. The two sides will assess the progress since the Pittsburg Summit, discuss how to move forward the bilateral cooperation on international financial institution reform, including promoting the timely completion of the share target of the International Monetary Fund determined at the Pittsburg Summit.

Zhu noted that the working groups of both sides have made full preparations for the dialogue under the leadership of Wang Qishan and Geithner in order to make the economic dialogue a success. We believe the dialogue will further enhance the bilateral mutual trust on the strategic and economic issues, handle related differences and problems properly and make positive contributions to pushing for the healthy and stable development of China-US relations.

Cui and Zhu also answered questions of journalists on China-US relations, RMB exchange rate, system building of the G20, the Korean Peninsula nuclear and the Iranian nuclear issues and the "Tian An" incident. Director-General of the Information Department of the Foreign Ministry Ma Zhaoxu hosted the briefing which was attended by nearly 100 Chinese and foreign journalists.


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