Source: Xinhua

12-13-2007 09:55

Chinese (L) and United States officials meet during the opening of The Third Strategic Economic Dialogue on December 12, 2007. [Photo: cnsphoto]

Chinese Vice Premier Wu Yi said on Wednesday that China and the United States should properly address new issues emerging in the course of the growth of bilateral business ties, turn difficulties and challenges into opportunities for cooperation and develop China-U.S. business ties in both depth and width.

Wu made the remarks at the opening ceremony of the Third China-U.S. Strategic Economic Dialogue (SED) held in Beijing on Dec. 12 to 13.

The SED, launched by U.S. President George W. Bush and Chinese President Hu Jintao in September 2006, is a forum for discussion on ongoing bilateral economic issues, crossing-cutting issues and long-term strategic challenges.

Wu said China-U.S. business relationship is the most complex one in today's world owing to its huge scale, broad scope and the extensive interests of various parties involved.

"This requires us to view this relationship from a strategic height, demonstrate greater vision and courage, and adopt more effective policy measures to handle in a creative way issues that have occurred as our business ties expand," said the Chinese vice premier.

"We should endeavor to turn difficulties and challenges into opportunities for cooperation, and add new momentum to the growth of our business relations," she added.

Wu took the issue of product quality and food safety as an example, saying that "as economic globalization gathers momentum, product quality and food safety have become a global issue."

This means that the countries concerned must increase cooperation, assume their due responsibilities and strengthen related mechanisms to ensure the quality and safety of people's life, she said.

Before this round of the Dialogue, China and the United States have signed the Memorandum of Agreement on Food and Feed Safety and the Agreement on the Safety of Drugs and Medical Devices.

With regard to China-US trade imbalance, Wu reiterated that China has no intention to seek large trade surplus with the United States, saying that "our policy is to maintain a basic balance in international payments."

Wu said "to address China-US trade imbalance requires the concerted efforts of both sides," and called on the United States to relax export control over export of high-tech products for civilian use to China.

"This is in your own interest. China has been the fastest growing export market for the United States for five years, and there is great potential for increasing U.S. export to China," Wu said.

She said China's policy toward the U.S. import is very clear, and its door is wide open to American products. "The key is what policy the United States should pursue. Whether the United States can increase its export to China hinges on what policy it will follow," she said.

 

Editor:Xiong Qu