In mutual interest

PUBLISHED : Thursday, 12 May, 2011, 12:00am
UPDATED : Thursday, 12 May, 2011, 12:00am


Highlights of the 2011 Sino-US strategic and economic dialogue

Economic track

China pledged to:

Make sure the software used by government agencies was legitimate;

Eliminate all of its government procurement indigenous innovation products catalogues;

Issue a measure this year requiring that all proposed trade- and economic-related administrative regulations be published on the State Council website;

Allow US and other foreign banks incorporated in China to sell mutual funds;

Advance towards allowing US and other foreign insurance companies to sell mandatory third-party liability auto insurance;

Raise the share of the services sector in China's economy by four percentage points during the next five years.

Strategic track

China and the United States announced the establishment of the US-China strategic security dialogue.

The two sides also decided to:

Work together to make thorough preparations for bilateral high-level exchanges in coming months;

Hold the next round of the legal experts dialogue in Washington in June;

Hold the 8th US-China counter-terrorism consultation this year;

Hold the next rounds of the security dialogue and the non-proliferation dialogue prior to the next strategic and economic dialogue;

Further strengthen the mechanisms for climate-change policy dialogues;

Enhance communication and co-ordination on regional and global issues to jointly address common challenges;

Take steps to encourage North and South Sudan to continue to push forward the peace process;

Further deepen ongoing co-operation to combat corruption; and

Formulate the US-China 2011-2015 Framework Plan for Ocean and Fishery Co-operation.

They also announced a US Trade and Development Agency grant to support environmental disaster response.