China, U.S. prepare for new landmark talks on Geithner's visit

Video

Play VideoChinese Vice Premier meets with US Treasury Secretary

BEIJING, June 2 (Xinhua) -- China and the United States are ratcheting up efforts to prepare for strategic and economic talks this summer as U.S. Treasury Secretary Timothy Geithner continues his visit to Beijing.

On his first visit to China as Treasury chief, Geithner is scheduled to meet with President Hu Jintao and Premier Wen Jiabao Tuesday afternoon for talks that diplomatic sources say will lay the groundwork for the first China-U.S. Strategic and Economic Dialogue.

The new dialogue mechanism came out of the first meeting between Hu and President Barack Obama in April in London.

Chinese President Hu Jintao (R FRONT) meets with visiting U.S. Treasury Secretary Timothy Geithner (L FRONT) in Beijing, capital of China, June 2, 2009. (Xinhua/Li Xueren)

Its strategic track will be chaired by Chinese State Councilor Dai Bingguo and U.S. Secretary of State Hillary Clinton, while the economic track will be chaired by Vice Premier Wang Qishan and Geithner.

"Wang Qishan and Geithner agreed to make full preparations and ensure the dialogue is a success," said a statement by the Chinese Foreign Ministry Monday.

In an hour-long meeting with Geithner Monday, Wang said, "The major task of the dialogue is to address the global economic slowdown.

Chinese Premier Wen Jiabao (1st R) meets with visiting U.S. Treasury  Secretary Timothy Geithner (1st L) in Beijing, capital of China,  June 2, 2009.(Xinhua/Li Tao)