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Third China-US SED concludes with success
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The Third China-U.S. Strategic Economic Dialogue (SED) which concluded at noon Thursday was a "complete success", said Chinese Vice Premier Wu Yi.


Wu made the remarks at a press conference following the conclusion of the one-day-and-a-half closed-door meeting.


The discussions led to a number of results that strengthen and deepen the bilateral economic relations, according to a joint fact sheet distributed after the talk.


Agreements were reached in food safety and product quality, balanced growth, environment and energy and investment, Wu said, adding that this dialogue was "of strategic meaning, mutually beneficial and is bound to exert important influence on future business and trade ties between China and the U.S.".


Among the deals, China promised to allow qualified foreign-invested companies, including banks, to issue RMB denominated stocks, qualified listed companies to issue RMB denominated corporate bonds, and qualified incorporated foreign banks to issue RMB denominated financial bonds.


The U.S. government pledged to remain committed to applying national treatment to Chinese banks, broker-dealers and investment advisers, according to the joint fact sheet.


U.S. Treasury Secretary Henry Paulson, who co-chaired the talks with Wu, said "the quality of our discussions has improved over the last year, as we have come to know one another better."


He said both sides have had substantive, robust, and engaging exchanges on a range of issues important to both nations including the integrity of trade, balanced growth including financial services, energy security and environmental sustainability, and bilateral investment.


The fourth SED is scheduled to convene in Washington of the United States in June next year, according to Wu.


(Xinhua News Agency December 13, 2007)

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