Source: Xinhuanet

09-21-2006 09:01

Chinese Vice Premier Wu Yi and U.S. Secretary of Treasury Henry Paulson announced on Wednesday the establishment of a China-U.S. economic strategic dialogue.

"The dialogue will occur at the highest official levels and is the first of its kind," said a fact sheet accompanying the joint statement on the dialogue.

Wu and Paulson will co-chair the dialogue as special representatives of Chinese President Hu Jintao and U.S. President George W. Bush.

It will examine long-term strategic issues, and provide coordination among specialized continuing dialogues.

They said the two nations should enhance the strategic dialogue in the economic field, which is conducive to bilateral economic cooperation and the two countries' constructive and cooperative relations.

The dialogue will also have positive influence on global economic development and international security, they said.

The dialogue mechanism was established according to a consensus between the two presidents, said Wu.

"What the Chinese government do and the pace of change is remarkable," Paulson said. "This time I came here to encourage Chinese leaders to move forward the reform and get the Chinese capital market reform quicker."