CHINA AND US TO DEEPEN COOPERATION TO REINFORCE GLOBAL ECONOMIC RECOVERY

BEIJING, May 26 (Bernama) -- The two-day China-US Strategic and Economic
Dialogue ended Tuesday with the signing of 26 agreements and both countries
agreeing to deepen cooperation to strengthen and reinforce the global economic
recovery.

Consensus was reached in many issues involving financial, currency structure
reforms, trade and investment and the stability and reform of the financial
market.

They also agreed to enhance dialogue and coordination in macro economic
policies.

China said it would introduce financial and monetary policies and undergo
structural reforms that would encourage consumption which is expected to play a
more important part in the economic growth.

The US agreed to realign its financial policy's focus from overall demand
and employment to reduce federal financial deficit to ensure long term and
sustainable finance.

A statement issued following the meet said both sides agreed that all trade
safeguard measure investigations strictly abided WTO regulations, to prevent
abuse.

The US also said it would seriously consider the applications from Chinese
market oriented enterprises, to ensure they were treated fairly and to recognise
China's market economic status through China-US Joint Commission on Commerce and
Trade.

China also voiced out its concerns towards the US Hi-Tech export
restriction.

During the two-day dialogue, two countries had discussed issues concerning
energy, security, climate change, healthcare and UN peacekeeping operations.

Among the deals signed, they also cover supply chain security and
facilitation, and trade finance activities between the two countries.

American experts are also expected to work closely with their Chinese
colleagues on exploration of China's vast natural gas potential.

A deal was also signed for the use of the Westinghouse AP1000 nuclear
reactor, which is designed by an American company, in Chinese nuclear power
plants.

On education and cultural exchange, China agreed to provide 10,000
scholarships for American students in response to the US initiative to send
100,000 students to study in China over the next four years.

The two sides also inked a work plan for research into shale gas, and credit
agreements for US medical equipment, telecommunication cables and other
equipment exports to China.

The two countries' health departments also signed an MoU for the
Colloborative Program on Emerging and Re-emerging Infectious Diseases.
-- BERNAMA