Opinion

Leading US business group hails US-China talks

(Xinhua)
Updated: 2010-05-25 10:46
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WASHINGTON - The first day of meetings at the US-China Strategic and Economic Dialogue (S&ED) highlighted "the importance of this annual gathering to both countries," the US-China Business Council (USCBC) said on Monday.

"The S&ED allows for a forward-looking, high-level, cross-agency mechanism for dealing with the big issues in the US-China relationship," said USCBC President John Frisbie in a statement.

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"Current tensions on the Korean Peninsula underscore the strategic value of the dialogue. At the same time, America's commercial relationship with China is critical to our nation's economic growth," he stressed.

China is the third-largest US export market, after Canada and Mexico, with nearly $70 billion in sales during 2009.

Meanwhile, US exports to China outperformed in a down year for US exports generally. Sales to China in 2009 were about even with 2008, while US exports to the rest of the world fell nearly 20 percent, according to the Washington-based business group.

"The US and China need more cooperation, not less, on issues such as regional security, energy and the environment, maintaining open trade and investment regimes, and coordinating economic recovery policies," said Frisbie. "(Chinese) President Hu Jintao's opening statement today touched upon all of these issues and we look forward to hearing more tomorrow when the S&ED concludes."

Addressing the opening ceremony in Beijing, President Hu reaffirmed the importance of developing China-US relations. He said sound bilateral ties contribute to peace, stability and prosperity in the Asia-Pacific region and the world.

Hu called on the two sides to maintain close communication at the top and other levels and to develop a pattern of mutually-beneficial and win-win cooperation.