Paulson says China, U.S. to continue co-op on energy and environmental issues

2008-04-03 01:47:12 Xinhua English

BEIJING, April 3 (Xinhua) -- China and the United States would continue cooperation on energy and environmental issues which was built "on a solid foundation," said U.S. Treasury Secretary Henry Paulson on Thursday.

He made the remarks in a prepared speech titled "Meeting the Challenges: A Partnership on Energy and the Environment" which he delivered at the Research Center for Eco-Environmental Sciences of the Chinese Academy of Sciences.

"Energy and environmental challenges are also part of our overall economic relationship. The United States and China, individually and together, continue to find ways to maintain economic growth while also developing sustainable and secure energy supplies, and protecting and conserving the environment," he said.

Paulson said since December's Strategic Economic Dialogue (SED) meeting when the two countries embarked on ten years of cooperation on energy and environmental issues, they already had an agreement to increase industrial energy efficiency, and a joint five-year commitment to promote large scale deployment of alternative fuel technologies for vehicles.

The two countries had a memorandum of understanding to combat illegal logging and promote sustainable forest management. In conjunction with the International Energy Agency, both countries also strengthened cooperation on strategic oil reserves.

He said technology must be developed and adopted at a faster pace in the energy and environmental sectors. Policies and regulations must be developed and refined to create the proper incentives and price signals. U.S. and Chinese institutions need to manage the new demands of energy and environmental issues in innovative ways.

He urged both governments and industries of both countries to play a role in reducing greenhouse gases and pollution, increasing energy security and natural resource conservation, and increase public awareness of the environmental impacts of energy choices.

He said U.S. and Chinese policy makers would focus on defining a vision for sustainable economic growth during the fourth SED in June. The vision would rely on a strategy of economic openness, especially free trade and open investment policies.

Paulson arrived in Beijing earlier on Wednesday to start his two-day China trip for preparation of the fourth round of China-U.S. Strategic Economic Dialogue (SED).

Chinese President Hu Jintao met with him on Wednesday. President Hu's Special Representative and Vice Premier Wang Qishanheld work talks with him and exchanged views on China-U.S. SED and bilateral relations.