China, U.S. attach importance to first Strategic and Economic Dialogue

WASHINGTON, July 27 (Xinhua) -- Both China and the United States have attached great importance to the first ever China-U.S. Strategic and Economic Dialogue (S&ED), which kicked off on a high note in the U.S. capital on Monday.

CHINESE, U.S. LEADERS PIN HIGH HOPES

Chinese President Hu Jintao and U.S. President Barack Obama have pinned high hopes on the July 27-28 dialogue, a mechanism upgraded from the previous Strategic Dialogue and biannual Strategic Economic Dialogue initiated in 2005 and 2006 respectively.

President Hu sent a congratulatory letter to the S&ED, which was read at the opening ceremony by his special representative, Chinese Vice Premier Wang Qishan. Wang and Chinese State Councilor Dai Bingguo, both co-chairing the dialogue on behalf of the Chinese president, are leading a large delegation of some 150 senior officials, 24 of them at or above the ministerial level.

Hu said in his message that both countries shoulder important responsibilities on a host of major issues concerning peace and development of mankind, adding that in the face of the complex and changing international economic and political situation, China and the United States should endeavor to expand common ground, reduce differences, enhance mutual trust and strengthen cooperation through the strategic and economic dialogue.

"This serves the common interest of the two sides and will help advance the positive, cooperative and comprehensive relationship between our two countries," said the Chinese leader.

"It is also of great importance for peace, stability, development and prosperity of the whole world," he added.

"I am confident that with the concerted efforts of both teams, the S&ED mechanism will keep improving and growing and inject new dynamism and make new contribution to our mutually beneficiary cooperation in various areas and to the growth of our positive, cooperative and comprehensive relationship," said Hu.

President Obama addressed the dialogue's opening in person, elaborating on an array of issues, ranging from the financial crisis, security and climate change. He also stressed the importance of cooperation between the two countries.

He hailed the dialogue as an "essential step forward in advancing a positive, constructive, and comprehensive relationship" between the two countries.

"Our countries have now shared relations for longer than we were estranged. Our people interact in so many ways. And I believe that we are poised to make steady progress on some of the most important issues of our times," he said.

Obama said no nation can meet the challenges of the 21st century on its own, which "only makes U.S.-China dialogue more important."

The U.S. side also gave unprecedented priority the dialogue, the first of its kind under the Obama administration. Twelve officials at or above the ministerial level, including Secretary of State Hillary Clinton and Secretary of Treasury Timothy Geithner who are co-chairing the dialogue for the American side, were involved in the dialogue.