The following is the speech delivered by Vice-Premier Wang Qishan at the joint opening session of the third Round of China-US Strategic and Economic Dialogue, held in Washington DC, Monday.

Secretary Clinton,

Secretary Geithner,

Dear colleagues,

We are gathered here today for the third round of China-US Strategic and Economic Dialogue (S&ED). On behalf of the Chinese delegation, I would like to express sincere thanks to the US side for the thoughtful arrangements.

President Hu Jintao attaches great importance to the S&ED. He has asked me and State Councilor Dai Bingguo to convey his greetings to President Obama, Vice-President Biden, Secretary Clinton, Secretary Geithner and all those working on the S&ED on the US side.

President Hu appreciates the important role of the S&ED in deepening mutual understanding, enhancing our strategic mutual trust, and strengthening communications and cooperation between our two countries at all levels. He hopes that both the Chinese and the US sides will make the most of this round of S&ED for in-depth exchanges of views on ways to further enhance strategic mutual trust and cooperation. Our president is looking forward to the implementation of the agreement he reached with President Obama and the advancement of a China-US cooperative partnership based on mutual respect and mutual benefit.

President Hu's state visit to the United States in January was historic in that the two presidents were able to open a new chapter in China-US relations.

Since the establishment of diplomatic ties between China and the United States 32 years ago, our relations have moved forward, despite twists and turns. Our two countries differ in history, culture, stage of development, resources and circumstances, but we are highly interdependent and mutually complementary economically.

China and the United States are each other's second-largest trading partner. The United States is China's second-largest export market, and China is the fastest growing export market for the United States. Together, China and the United States account for one-third of the world's GDP, and one-fifth of global trade. The China-US economic relationship is no longer just bilateral; it has global significance.

We are witnessing profound and complex changes in the world's economic landscape, changes that are driven by globalization. At present, we still face many uncertainties in tackling the global economic recession and in sustaining economic recovery. Against such a backdrop, China and the United States face both common challenges and opportunities for cooperation. Our respective policies for ensuring economic recovery both complement and clash with each other. However, we have far more shared interests than differences. Both sides must therefore make better use of the S&ED as a framework for examining long-term and strategic issues, and take solid steps to advance the sound development of China-US economic relations.

The past and the present have proven and the future will prove that nothing can hold back the trend of China-US cooperation. We are confident of it. Our confidence comes from the broad common interests between our two countries, the shared aspirations of our two peoples, as well as from historical and philosophical considerations.

Action speaks louder than words. Let us use the opportunity brought by the current round of S&ED to implement the important agreement reached between our two presidents and to deepen all aspects of cooperation. By so doing, we will contribute to a strong, sustainable and balanced growth, not only of our two economies but also of the global economy.

I wish the third round of China-US Strategic and Economic Dialogue great success.

(China Daily 05/10/2011 page11)