U.S.-China trade talks said successful

Dec. 15, 2006 at 2:39 PM

BEIJING, Dec. 15 (UPI) -- U.S. stock exchanges should open up offices in China, U.S. and Chinese officials say.

The officials said Friday they have reached consensus on a number of issues at the conclusion of their first strategic economic talks in Beijing.

At a joint news conference, U.S. Treasury Secretary Henry Paulson and China's Vice Premier Wu Yi termed the results important and encouraging, China's Xinhua news agency reports.

A fact sheet released at the end of the talks indicated the two nations reaffirmed their commitment to pursuing macroeconomic policies.

"China will carry out the exchange rate regime reform and the United States will increase saving rates so as to promote balance and strong growth and prosperity in two nations," the document said.

The United States and China agreed that the New York Stock Exchange and the NASDAQ should open offices in China.

The two governments also concluded an agreement to facilitate financing to support U.S. exports to China and agreed to re-launch bilateral air services negotiations, beginning in January.

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