Leading Business Group Welcomes Progress at US-China Talks

WASHINGTON, July 28, 2009 - The first meeting of the US-China Strategic and Economic Dialogue (S&ED) made progress on some of the key challenges that face the two countries in the midst of the global recession, the US-China Business Council (USCBC) said today.

"The economic recovery was logically the key focus of the economic discussions," USCBC President John Frisbie said, "and we are pleased that the United States and China continue to work together to restore economic growth."

The S&ED was established in April 2009 by US President Barack Obama and PRC President Hu Jintao. The strategic discussions are led by US Secretary of State Hillary Rodham Clinton and PRC State Councilor Dai Bingguo, who is the most senior official in charge of China's foreign affairs. The economic discussions are led by US Treasury Secretary Timothy Geithner and PRC Vice Premier Wang Qishan.

Topics covered in the economic dialogue included the global financial crisis, post-recovery policies to promote sustained and balanced growth, and the importance of maintaining open trade and investment environments. The strategic dialogue agenda covered global and regional security and political issues such as nonproliferation, military relations, and climate change.

"China's economic growth should benefit American workers, farmers, and companies. We need to ensure Americans have the same access to the China market as the Chinese do to ours. The S&ED has set a road map to address specific issues throughout the year," Frisbie said.

The USCBC (www.uschina.org) is the leading organization of US companies engaged in business with the People's Republic of China. Founded in 1973, the USCBC provides extensive China-focused information, advisory, and advocacy services, along with events, to roughly 220 US corporations operating within the United States and throughout Asia.