The normalization of relations between China and the United States has opened a new chapter in bilateral ties.

30 years later, the relationship between Beijing and Washington has become one of the most important bilateral relationships in the world.

There are now more than 60 dialogue and cooperation mechanisms between the two countries.

And trade volume increased 120 fold from 1979 to 2007.

In facing the global financial crisis, analysts believe a united effort of the US, China, and the rest of the world is essential.

Prof. Huang Ping, Chinese Academy of Social Sciences, said, "The only way is that we have to work together closely...not only the US and China, but also all of us should work with our neighbor countries. All of us work together to handle new challenges."

In defining their future relationship, it's thought the two countries will focus more on global issues.

Kenneth Lieberthal, Visiting Fellow, a visiting fellow, John L. Thornton China Center, said, "We will enter a new stage in the relationship as we move forward. In the past, our relationship has been mostly focused on bilateral issues and those remain important. But as we go forward, the role of the US and the role of China the relationship increasingly will focus on global issues, climate change, clean energy, financial crisis not the traditional security issues."

As common interests increase, mutually-beneficial cooperation has also expanded.

Today,a stable and co-operative relationship between China and the US is critical not only for both sides, but for regional and international stability.

(CCTV January 4, 2009)