China, U.S. end fifth strategic economic dialogue

2008-12-05 03:02:59 GMT2008-12-05 11:02:59 (Beijing Time) Xinhua English

BEIJING, Dec. 5 (Xinhua) -- China and the United States concluded a high-profile economic dialogue on Friday morning, with "important consensus" reached on the financial turmoil and critical issues of the two economies.

The two sides agreed to "strengthen financial regulation together" and "enhance the role of developing countries in international financial institutions", Chinese Vice Premier Wang Qishan told reporters after the conclusion of the fifth round of the Sino-U.S. Strategic Economic Dialogue (SED).

U.S. Treasury Secretary Henry Paulson described the talks as "productive" in the closing statement, and said the two sides "had a robust discussion of the current global financial market turmoil and economic downturn."

Paulson said both nations were "committed to strengthening the global economy, and also said he welcomed recent measures by the Chinese government to strengthen domestic demand and maintain economic growth.

Both sides said that they would fight trade protectionism, and would actively promote a successful Doha round.

"China look forward to continuing candid and pragmatic talks with the new U.S. administration," Wang said.

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