The following is the speech delivered by State Councilor Dai Bingguo at the opening session of the third Round of the China-US Strategic and Economic Dialogue, held in Washington DC, Monday.

Secretary of State Hillary Clinton,

Secretary of the Treasury Timothy Geithner,

Vice-Premier Wang Qishan,

Ladies and gentlemen,

Dear friends,

It is with great pleasure that I join you at the third round of the China-US Strategic and Economic Dialogues (S&ED) here in Washington. We meet at a unique point in the history of China-US relations, as this year marks the 40th anniversary of ping-pong diplomacy and of Dr. Kissinger's secret visit to China.

Forty years ago, the desire of the Chinese and American peoples for friendly interactions, together with the decisiveness and courage of our political leaders, produced an unstoppable force of history.

It pushed open the door of engagement between our two countries, one that had been closed for more than 20 years. Since then, no force in the world has had the power to shut that door again.

Today, as we review the past and look ahead to a better future, we cannot but pay tribute to those ice-breakers, pioneers and builders of China-US relations. More importantly, we shall learn from their foresight and pioneering spirit, because we have to bring our relations forward.

We are at an extremely important point in the history of China-US relations. President Hu Jintao and President Obama met in Washington this past January, at the beginning of the second decade of the 21th century. Our two presidents decided to build a cooperative partnership based on mutual respect and mutual benefit. They charted a clear course for the future of China-US relations.

History will show that the decision they made is one that is in accord with the currents of history and will benefit the people of China, the United States and of the world.

Admittedly, it is not an easy task to make this decision a reality and to turn commitment into action. We face all sorts of difficulties, obstacles and interference in the path ahead.

I am confident, however, that as long as both sides resolutely stick to the direction set by our presidents, and do not waver in our determination to overcome whatever difficulties we encounter along the way, we will blaze a new path in our relations, one of mutual respect, harmonious coexistence and cooperation. Our people and our future generations will be able to live in lasting peace, friendship and cooperation.

I address you as a 70-year-old man, one who should be home enjoying the company of his children and grandchildren. Why then am I still flying across the Pacific and sitting in round after round of dialogue with my American counterparts?

I am doing so to implement the consensus that our presidents reached to achieve one lofty goal: to make our two countries and peoples good friends and good partners, and to enable our children and children's children to live in peace and happiness. Could we ever let them down? The answer is a definite "No". If we do, we would be derelict in our duty, and that would be unforgivable.

Dear friends, the people of China and the United States live in the same "global village", you on the west side and we on the east. I welcome more American friends to visit China and to see and feel for yourselves the friendship of the Chinese people and the importance of China-US relations. You may also learn first-hand of the enormous progress that China has made on various fronts, including in human rights.

To conclude, I wish this round of dialogue every success.

(China Daily 05/10/2011 page11)