Chinese Vice Premier Wu Yi (C Front) and United States Treasury Secretary Henry Paulson (6th L Front) pose for a photo with Chinese and U.S. delegates to the Third China-U.S. Strategic Economic Dialogue in Beijing, Dec. 13, 2007. The two-day meeting was concluded on Thursday. (Xinhua Photo)
Photo Gallery>>>

    BEIJING, Dec. 13 (Xinhua) -- The Third China-U.S. Strategic Economic Dialogue (SED) which concluded at noon Thursday was a "complete success," said Chinese Vice Premier Wu Yi.

    Wu made the remarks at a press conference following the conclusion of the one-day-and-a-half closed-door meeting.

    "The dialogue went beyond short-term trade and economic issues, and achieved comprehensive thinking on Sino-U.S. economic relations from a strategic point of view," she said.

    It is "of strategic meaning, mutually beneficial and bound to exert important influence on future business and trade ties between China and the U.S.," she added.

    The discussions led to a number of results that strengthen and deepen the bilateral economic relations, according to a joint fact sheet distributed after the talk.

    Thirty-one agreements were reached in financial services, food safety and product quality, environment and energy, transparency, investment, China's market economy status, balanced growth and innovation, Wu said.

    Among the deals, China promised to allow qualified foreign-invested companies, including banks, to issue RMB denominated stocks, qualified listed companies to issue RMB denominated corporate bonds, and qualified incorporated foreign banks to issue RMB denominated financial bonds.

    The U.S. government pledged to remain committed to applying national treatment to Chinese banks, broker-dealers and investment advisers, according to the joint fact sheet.

    U.S. Treasury Secretary Henry Paulson, who co-chaired the talks with Wu, said "the quality of our discussions has improved over the last year, as we have come to know on another better."

    He said the two sides have had substantive, robust, and engaging exchanges on a range of issues important to both nations including the integrity of trade, balanced growth including financial services, energy security and environmental sustainability, and bilateral investment.

    In terms of trade relations, Paulson said "we both recognize the need to fight economic nationalism and protectionism in our two nations."

    The two countries also agreed to conduct extensive cooperation over a 10-year-period focusing on technological innovation, adoption of clean technology and sustainable natural resources, he said.

    The fourth SED is scheduled to convene in Washington of the United States in June next year, according to Wu.