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U.S.-China Strategic and Economic Dialogue concludes

U.S. and Chinese officials concluded a joint Strategic and Economic Dialogue in Beijing on Thursday, with both sides heralding the progress made through intense and candid conversations.
By JC Finley   |   July 10, 2014 at 11:10 AM   |   Comments

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BEIJING, July 10 (UPI) --The sixth round of U.S.-China Strategic and Economic Dialogue concluded Thursday after two days of intense meetings.

At a joint press conference with U.S. officials, Chinese Vice Premier Wang heralded the summit as "a full success."

The focus of the dialogue, Wang said, was "a candid and in-depth exchange of views on... macroeconomic policy and a structural reform, deepening trade and investment cooperation, financial industry reform and opening up, and across-border oversight cooperation."

The U.S. delegation, comprised of Secretary of State John Kerry and Treasury Secretary Jack Lew, emphasized the progress made in furthering "a positive and constructive U.S.-China relationship."

Kerry emphasized in his remarks that "China's success is profoundly in the interests of the United States."

"One of America's clearest and most compelling interests is to develop a positive and constructive U.S.-China relationship. How we manage and grow this relationship will define not only the future of our two nations in our work together, but also greatly impact the possibilities for peace and prosperity in the Asia Pacific region and around the world. That is why this week's U.S.-China Strategic and Economic Dialogue was and is so important."

During their meetings, Kerry noted that much progress had been made on a variety of pressing topics.

With regard to climate change, both countries agreed to reduce greenhouse gas emissions and advance low-carbon economic growth, underscoring that the effort "has to accompanied by commitments which are defined by the actions that we will actually take."

On the topic of global security and regional instability, "The United States and China agree on the importance and urgency of achieving a denuclearized, stable, and prosperous Korean Peninsula, and we discussed specific ways in which we think we can advance that goal." One way to do that, Kerry said, is for both countries to enforce UN Security Council resolutions that sanction North Korean weapons of mass destruction and ballistic missile programs.

"We also continued our conversations on cyber security and cyber theft.... and we both agree it is important to continue discussions in this area."

Following Kerry's remarks, Treasury Secretary Lew addressed China's economic reform agenda, which he said "reflect the increasingly important role China plays in the global economy."

"... China committed to reducing intervention as conditions permit, and China is making preparations to adopt greater transparency, including on foreign exchange, which will accelerate the move to a more market-based exchange rate. These commitments will assist China in its reforms and will help level the playing field...

"We've made progress on fostering greater competition over the past two days. For example, China has pledged to significantly increase the dividends its state-owned enterprises pay to the government, which will be used to strengthen China's social safety net. While there's still work to do, this Strategic and Economic Dialogue made concrete progress that will create new opportunities for U.S. workers and companies in an expanding China market."

Chinese Vice Premier Wang acknowledged that "these important outcomes have not come by easily" but expressed hope that "they have provided a good foundation for the meeting between the two presidents in November and also injected positive energy to the building of a new model of major-country relations between the two countries."

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