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Beijing, Washington roll out talks' priorities

By Li Xing (chinadaily.com.cn)
Updated: 2011-05-10 00:23

WASHINGTON – The economic track of the 3rd round of China-US Strategic and Economic Dialogue opened with both sides seeking to address practical issues that have held back the smooth progress of their relations.

In his opening remarks, Chinese Vice-Premier Wang Qishan listed a series of Chinese concerns. The Chinese "hope that the US side will set a clear timetable and roadmap for implementing the dialogue outcomes, take credible steps to relax high-tech export controls vis-à-vis China, recognize China's market economy status, accord fair treatment to Chinese companies investing in the US and refrain from politicizing economic and trade issues," Wang said.

In his opening address, US Treasury Secretary Timothy Geithner highlighted three US priorities for the talks.

"First, we will continue our dialogue on China's move towards a more flexible exchange rate with more open capital markets," Geithner said.

The US side will also press China for pushing ahead financial sector reforms, he said.

The US will also ask the Chinese side to come up with concrete actions in "building a more level playing field – so that firms and workers in both our nations can compete in each other's markets across the major sectors of trade between us", Geithner said.