The second round of China-U.S. Strategic and Economic Dialogue was held in Beijing on May 24 and 25. Chinese President Hu Jintao's special representative - Vice Premier Wang Qishan and State Councilor Dai Bingguo - co-hosted the dialogue together with U.S. President Barack Obama's special representative - Secretary of State Hillary Clinton and Financial Minister Timothy Geithner. The two sides discussed and reached consensus on strategic, overall and long-term issues between the two countries, focusing on building a proactive, cooperative China-U.S. relationship in the 21st century.

During the economic dialogue, both sides exchanged views on various world economic situations, transformation of the economic development method, and strengthening economic, trade and financial cooperation as well as the reform of global economic management structure and other topics. More consensuses were reached on these issues.

The dialogue will help to strengthen the two countries' economic growth and promote strong, sustained and balanced development of the global economy. Both sides believe, as the largest developed country and largest developing country, that the economic relations between the United States and China are no longer two-sided, and now have significant global influence. The two sides sat down and talked about issues of common interest and problems relating to their differing opinions in a frank and rational way.

This dialogue itself was a big achievement. With an increasingly closer economic relationship, China and the United States are becoming more aware of the differences in each other's history, culture, national condition, current stages of development, economic structure and market development. The two countries have become more reasonable and mature in dealing with disputes and problems of economic relations. On the basis of insisting on one's own principles, the two countries now have a better understanding of each other's opinions and reach consensus in many areas of cooperation, so as to better realize common interests. In strategic dialogue, the two sides stressed the promotion of China-U.S. relations in a new age, and respect for each other's core interests. Also on the agenda were big issues of common concern, strengthening cooperation on coordination on big international and regional issues, and common efforts in pushing forward international systems reform as well as the establishment of an Asia-Pacific cooperation mechanism. Government departments from the two sides held discussions in areas such as energy security, climate change, United Nations peacekeeping actions and more.

The world has now entered the post-financial crisis era. The situation facing China and the United States and their responsibilities makes it necessary for them to increase mutual trust through communication. Only by expanding cooperation will they achieve win-win results and only by strengthening coordination will they overcome challenges. Only joint efforts will help the ship of China-U.S. relations to weather heavy seas safely.

The China-U.S. relations are of great importance to the future of the two countries and to the whole world. To cultivate and deepen strategic mutual trust between the two countries is of key importance to the development of China-U.S. relations in the new era. It will be impossible for the two countries to reach consensus on every issue. When conflicts and disagreement arise, the key for the two countries to deal properly with sensitive areas is to do in accordance with the three China-U.S. Joint Communiqués and China-U.S. Joint Declaration and keep strengthening mutual trust. As long as they adhere to this correct direction, the two sides will be able to overcome disturbances and obstacles and ensure sound development of the China-U.S. relationship without being repeatedly set back.

The two sides are committed to strengthening the stable development of their relationship.

They agreed to communicate, discuss, coordinate and cooperate on bilateral, regional and global issues.

The two sides also exchanged views on the current situation on the Korean Peninsula and expressed their worries and concerns, both saying they believed that to ensure peace and stability on the Peninsula was very important. The Chinese side stressed that in the current circumstances, relevant parties should keep in mind the overall objective of maintaining peace and stability on the Peninsula and in Northeast Asia and try to stay calm, so as to deal properly with the problems and avoid a deteriorating situation.

China and the United States further talked about the active building of bilateral cooperation in the 21st century. The Chinese side stressed that this kind of relationship should feature cooperative partnership, rather than rivalry or enmity, peaceful coexistence rather than mutual defensiveness, win-win cooperation rather than damaging each other's interests, and equality rather than a bias in favor of one side or the other.

This relationship should be based on frank communication, mutual understanding as well as rational handling of each other's strategic intentions, respect and care for each other's core interests and major concerns, and dealing properly with conflicts and differences. The relationship should show a great degree of responsibility for the peoples of both countries and also the people of the rest of the world. It's not an alignment and does not target any third party.

Following the talks, Wang Qishan, Dai Bingguo, Hillary Clinton and Timothy Geithner attended a signing ceremony of bilateral cooperation documents and also a joint press conference.