China-US Joint Commission on Commerce and Trade begins in Hangzhou

The 20th session of the China-US Joint Commission on Commerce and Trade has began in China's eastern city of Hangzhou. This is the JCCT's first meeting since US President Barack Obama took office. The meeting aims to pave the way for significant improvements in bilateral economic and trade ties in the future.

This year's meeting is co-chaired by Chinese Vice Premier Wang Qishan, US Secretary of Commerce Gary Locke and US Trade Representative, Ron Kirk. Energy issues will top the meeting's agenda.

The two countries are expected to discuss the yuan's exchange rate, recent trade disputes and agricultural cooperation. China's market economy status will also be reviewed. A series of economic and trade agreements are expected to be signed this afternoon.