On the other hand, Zhu said the timely sharing of information between the Chinese and US government on the financial crisis demonstrated the level of cooperation and trust between the two countries.

On the future of the Strategic Economic Dialogue under the incoming Obama administration, Zhu expressed the belief that the cooperative mechanism will be raised to a higher level.

"Further advancing the constructive relationship of cooperation between China and the United States accords with the historical trends and aspiration of the two peoples," Zhu said.

Chinese President Hu Jintao and Premier Wen Jiabao congratulated Obama upon his election as the new President of the United States earlier this month. In a telephone conversation with Obama, Chinese President Hu Jintao expressed appreciation to Obama for emphasizing in his election campaign speeches the great importance of China-US relations.

According to Zhu, the SED has been under close attention and direct guidance of the heads of both countries. During his meeting with US President George W. Bush in Lima last Friday, President Hu said the two countries should make earnest preparation to secure the success of the coming round of SED, Zhu said.

The SED has been held alternatively in Beijing and Washington twice a year since 2007.

The fifth round of SED is to be held in Beijing from December 4 to 5. During the meeting, Chinese and US officials are expected to discuss a wide range of issues, including macro-economic policy, measures to address the international financial crisis, energy, environment, trade, investment, Sino-US cooperation on international economic issues, food safety and product quality.

Zhu said one of the outstanding features of the SED is that both sides exchanged views in a very "frank" way behind closed doors. The frankness in debates rendered mutual understanding as both sides learned to accommodate each other's concerns, Zhu said.

He said the exchanges in economic policy have helped advance the overall relationship between China and the United States.

"Sino-US relations will definitely continue to move forward," Zhu said. "This development will not depend on any individual person's will."

Editor:Xiong Qu