Chinese and US financial officials to meet

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Source: CCTV.com | 12-04-2008 09:04

Chinese and US financial officials will meet through the Strategic Economic Dialogue in Beijing on Thursday and Friday. The talks will be the last before President-elect Barack Obama takes office in January.

China-US SED, held twice a year, were launched in 2006 to  address tensions that threatened to derail booming trade  and financial issues of common concern.

There's been no confirmation the new US leader will continue the mechanism, but officials from both sides are expected to try to keep it going.

The United States is in a recession, while China has also experienced a significant economic slowdown in recent months. And the ability of the two major economies to maintain a productive relationship in spite of the financial downturn is now of global concern.

In a press release on the upcoming talks issued by the US Treasury Department, the strategies for managing macroeconomic risks and promoting balanced economic growth was top of the agenda.

US Treasury Secretary Henry Paulson said he thinks China should shoulder more responsibility by improving the structure of its own economy.

US Treasury Secretary of Henry Paulson said, "Now is the time for China to take measures to ensure sustainable, strong and balanced economic growth for its future. This means relying more on domestic demand and less on exports to drive growth."