Al-Jazeerah: Cross-Cultural Understanding
Opinion Editorials, December 2008
Henry Paulson and Wang Qishan Say US-Jointly Coping with Financial Crisis
China: jointly coping with financial crisis a common task of China, U.S.
BEIJING, Dec. 4 (Xinhua) --
China said to jointly cope with the global financial crisis is the most pressing common task of both China and the United States.
"The most pressing issue we have to deal with is coping with global financial turmoil," Vice Premier Wang Qishan said here Thursday when addressing the opening ceremony of the fifth Sino-U.S. Strategic Economic Dialogue (SED).
Wang and U.S. Treasury Secretary Henry Paulson, as special representatives of President Hu Jintao and President George W. Bush, co-chaired this highest-level of dialogue between the two countries.
Wang said it is imperative for the two countries to work together to implement the consensus reached at the G20 summit, restore market confidence as soon as possible, restrain the crisis from spreading, and avoid a global economic recession, especially the impact for developing countries.
China, with a responsible attitude, has been actively supporting the U.S. efforts to maintain the stability of financial markets since the crisis breaking out, Wang said.
He added China also took several measures to keep a stable and relatively fast growth of economy, such as a pro-active fiscal policy, a moderately easy monetary policy, stimulation of domestic demand and transformation of economic development ways.
"This is an important contribution to the stable development of world economy and finance," Wang said.
The vice premier called on the U.S. side to go all-out to stabilize economy and financial market, and ensure the safety of China's assets and investment in the United States.
He also urged the two sides to strengthen cooperation in financial supervision and the reform of international financial institutions.
Initiated by the two presidents in 2006, the SED was held twice a year in China and the United States in turn. The theme of this year's dialogue is "laying the cornerstone for long-term Sino-U.S. economic partnership".
China, U.S. agree to further cooperate on energy, environment
BEIJING, Dec. 4 (Xinhua) --
A senior Chinese official said here on Thursday that China and the United States have reached consensus in five major areas to step up energy and environmental protection cooperation during the on-going fifth round of the Strategic Economic Dialogue (SED).
Zhang Xiaoqiang, vice minister in charge of the National Development and Reform Commission (NDRC), said the five areas are as follows.
First, the SED completed preparations to start cooperation in five areas: electricity, clean water, clean transportation, clean air and the conservation of forest and wetland ecosystems, mapping out plans and roadmaps.
China and the United States signed a 10-year energy and environmental protection cooperation framework in June during the fourth SED held in Washington, with these five areas as initial goals.
Second, both sides agreed that energy efficiency would be the sixth initial goal.
Third, the SED achieved agreement on a framework document for the green partnership project under the 10-year cooperation framework. It will be formally signed by Chinese Vice Premier Wang Qishan and U.S. Treasury Secretary Henry Paulson.
Fourth, institutions including China's NDRC and the China Exim Bank, as well as the U.S. Trade and Development Agency and the Export-Import Bank of the United States, will sign a memorandum of understanding on measures to support the 10-year energy cooperation.
Fifth, seven eco-partnerships from the two countries will sign letters of intent on cooperation. These agreements include one involving China's southwestern Chongqing Municipality, the U.S. city of Denver and car maker Ford on an electric and hybrid automobile project.
The two-day SED, which is to end on Friday, also covers macro-economic risks, trade challenges and the investment environment.
Editor: Wang Hongjiang
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