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Chinese PM optimistic about talks

BEIJING, March 23 (UPI) -- Premier Wen Jiabao says China attaches much importance to the upcoming Strategic Economic Dialogue with the United States to resolve trade and currency issues.

The second round of the SED talks is set for May in Beijing. Speaking at a China development forum in Beijing, Wen said China attaches "great importance to the dialogue," which he said "will be a chance for China and the United States to settle disputes and problems," the state-run Xinhua news agency reported.

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Chinese-U.S. relations have become strained as the two are locked in a number of trade disputes. The United States wants China to let its artificially undervalued currency appreciate since economists see the current policy as giving China an unfair advantage to run up huge trade surpluses.

China maintains a higher yuan will not have much of an impact on balancing trade.

"The China-U.S. relationship is of great importance," Wen said, meaning its significance is global.

The premier said he believes some of the current problems can be solved through fair consultation. He said China welcomes American enterprises to explore business in China, and would expand imports from the United States in the future, Xinhua reported.

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Wen urged all countries and companies not to start trade and currency wars as that would adversely affect world economic recovery.

He said China promises not to pursue trade surplus and wants to enlarge the country's imports. He said China is determined to establish an "integrated, sound and sustainable" financial system.

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