China says SED "insightful", "productive"

Source: Xinhua | 12-06-2008 08:01

BEIJING, Dec. 5 (Xinhua) -- China said here on Friday that its Strategic Economic Dialogue (SED) with the United States was "insightful" and "productive", calling on the two sides to promote the dialogue mechanism and step up cooperation.

Chinese Premier Wen Jiabao (R) meets with United States Treasury Secretary Henry Paulson in Beijing, capital of China, Dec. 5, 2008. (Xinhua Photo)

"40 agreements reached during the fifth dialogue have once again proved the insightfulness and productiveness of this mechanism," Chinese Premier Wen Jiabao said in his meeting with the U.S. delegation to the SED headed by the U.S. Treasury Secretary Henry Paulson.

China and the United States started their fifth SED in Beijing Thursday. The two sides discussed strategies for managing macro-economic risks and promoting balanced growth, on open investment and trade policies, including strengthening products, food and drug safety, on respected roles in international institutions and to strengthen cooperation in energy and the environment.

Initiated by the two presidents in 2006, the twice-yearly SED is the highest-level among the existing China-U.S. dialogue and consultation mechanisms.

Wen proposed the two nations should cement their confidence and intensify cooperation to tackle the current international financial crisis as the confidence was "the source of strength" and cooperation was "one of the effective means" to overcome the financial crisis.

"It is highly necessary for China and the United States to strengthen dialogue and join hands to manage risks and address the challenges," Wen said, promising that China would continue to, along with the members of the international community including the United States, play an active and constructive role to cope with the financial turmoil.