Major achievements for China-U.S. economic cooperation during S&ED

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Economic cooperation between China and the United States has seen major achievements during the third-round China-U.S. Strategic and Economic Dialogue (S&ED), Chinese Vice Finance Minister Zhu Guangyao said on Tuesday at a press conference after the conclusion of the two-day event.

The economic part of the S&ED is quite successful with concrete outcomes and in-depth discussions, noted Zhu.

A key achievement of the economic dialogue is that the two countries signed the U.S.-China Comprehensive Framework for Promoting Strong, Sustainable and Balanced Growth and Economic Cooperation. This is a milestone for China-U.S. economic cooperation, said the official.

During his state visit and talks with U.S. President Barack Obama in January, Chinese President Hu Jintao had made clear that China would promote comprehensive cooperation with the United States, said Zhu.

The two presidents also pledged to establish a framework of comprehensive cooperation between the two countries. "Today, the two leaders' vision has become reality," Zhu said.

China and the United States also reached consensus on a host of bilateral economic issues, including Chinese investment in the United States, said the official.

"I hope this win-win cooperation can be further promoted," he added.

The two-day S&ED was co-chaired by Chinese Vice Premier Wang Qishan, State Councilor Dai Bingguo, U.S. Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner.

The dialogue mechanism was upgraded from the former Strategic Dialogue and biennial Strategic Economic Dialogue, which were initiated by the two countries in 2005 and 2006, respectively.

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