Chinese President Hu Jintao's Special Representative and Vice Premier Wang Qishan (R2) holds talks with Henry M. Paulson (L1), special representative of U.S. President George W. Bush and the U.S. Treasury Secretary, in Beijing, China, April 2, 2008.  (Xinhua Photo)

 BEIJING, April 2 (Xinhua) -- Chinese Vice Premier Wang Qishan held talks with U.S. Treasury Secretary Henry M. Paulson here Wednesday morning on advancing the process of the China-U.S. Strategic Economic Dialogue (SED) and bilateral economic ties.

    During the talks held in the Great Hall of People, Wang said Paulson's visit so soon after China's government reshuffle showed that Paulson attached great importance to the China-U.S. relations and the SED.

Chinese President Hu Jintao's Special Representative and Vice Premier Wang Qishan (R) meets with Henry M. Paulson (L), special representative of U.S. President George W. Bush and the U.S. Treasury Secretary, in Beijing, China, April 2, 2008. Paulson arrived in Beijing on Wednesday to start his two-day China trip for preparation for the fourth round of China-US Strategic Economic Dialogue (SED). (Xinhua Photo) Photo Gallery>>>

    China and the United States have reached many agreements since the establishment of the SED, which made a great contribution to the development of mutual trust and the steady growth of bilateral relations, Wang said.

    "The SED is playing a more important role now," said Wang, pledging both sides to use the dialogue as a substantial platform to push forward the China-U.S. strategic ties of cooperation, in the principle of mutual-benefit and mutual-trust.

    The fourth round of the SED will be held in the United States in June. Wang and Paulson are expected to jointly preside over the dialogue.

    "China is willing to work with the U.S. on the preparation work of the talk and maintain the continuity of the dialogue, so as to achieve more positive results," Wang said.

    Wang, the former mayor of Beijing, was recently appointed one of four vice premiers at the annual session of the National People's Congress, China's top legislature.

    He is expected to replace his predecessor Wu Yi to take charge of financial affairs, including the China-U.S. SED.

    Wang said it was his first talk with Paulson after taking office and as the special representative of President Hu Jintao, adding he is willing to have "an in-depth exchange of views" with Paulson, who is also special representative of U.S. President George W. Bush.

    Paulson said the two sides "have much to accomplish" and he looked forward to working with Wang to make progress as they move forward.

    He told Wang that the U.S. side opposed trade protectionism, and insisted on an open policy of foreign investment.

    The U.S. side expected to enhance mutual understanding and mutual trust with China via the fourth round of SED so as to make sure of the stable development of bilateral economic and overall ties, said Paulson.

    He also briefed Wang on the economic situation in the United States.

    Paulson, who arrived in Beijing earlier Wednesday morning for atwo-day visit, is scheduled to meet President Hu, Premier Wen Jiabao and other senior officials.

    Prior to his visit, Paulson told reporters he intended to visit China because of the change of leadership after China's 11th National People's Congress session and to meet with counterparts, new leaders, president and premier to talk about the SED.

    Launched in September 2006, the SED, a biannual economic strategic dialogue between Beijing and Washington, serves as a platform to discuss long-term, strategic and comprehensive issues in the bilateral trade relationship.

Source: Xinhua