US Treasury Secretary Tim Geithner (4th L) and Chinese Vice-Premier Wang Qishan shake hands after participating in a signing ceremony for a "US-China Comprehensive Framework for Promoting Strong, Sustainable and Balanced Growth and Economic Cooperation", during the US-China Strategic and Economic Dialogue at the Treasury Department in Washington May 10, 2011. [Xinhua]
China and the United States signed an agreement to boost economic ties, and promote sustainable growth, during their Strategic and Economic Dialogue.
Zhang Xiaoqiang, deputy head of the National Development and Reform Commission, said The Comprehensive Framework for Promoting Strong, Sustainable, and Balanced Growth and Economic Cooperation can help open up new areas of cooperation and help develop new growth models for both countries.
The framework, agreed on Tuesday, follows a commitment by China and the US to take "concrete action" to build a "comprehensive" cooperative partnership, during the first day of the key talks in Washington on Monday.
US President Barack Obama met with Vice-Premier Wang Qishan and State Councilor Dai Bingguo, who were leading the Chinese team, after the talks on Monday.
Both countries need to build "a cooperative partnership that is comprehensive in scope, cooperative in nature, and yields positive achievements that benefit our people", according to the White House website.
The leaders discussed a broad range of issues, including the economy and security, human rights and nonproliferation efforts in Iran and the Democratic People's Republic of Korea.
US Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner, who co-chair the economic and strategic tracks of the annual talks respectively, and Vice-President Joe Biden, along with Chinese officials, attended the meeting with Obama in the evening.
A senior US official, who declined to be named, described the first day's talks as "candid and honest".
He said having senior military officers at the talks for the first time contributed to long-term strategic trust between China and the US and their two militaries.
Both countries recognize that many of the most sensitive security issues are crosscutting in nature and important to both the civilian and military parts of government.
"By tackling some of those sensitive issues together, we hope we can break down misunderstanding and misperceptions that could potentially lead to some sort of miscalculation," he said.
Most of the discussions were held behind closed doors and it was unclear what breakthroughs could be achieved. But the measure of success for the Washington talks would be specific progress on issues of contention, Clinton said.