China proposes Sino-US macroeconomic policy coordination

BEIJING - China and the United States should further strengthen macroeconomic policy coordination to promote the two countries' economic growth.

The call was uttered by Chinese Vice Premier Li Keqiang when he met US Treasury Secretary Timothy Geithner, who is here to attend the fourth round of China-US Strategic and Economic Dialogues (S&ED).

Li also proposed a boosting of bilateral pragmatic cooperation with the United States in various fields by taking advantage of the complementary nature of the two economies.

"Under the backdrop of economic globalization, problems from one economy could affect the overall recovery of the world economy", Li told Geithner.

He said China would remain firm on its economic policy to further stimulate its domestic consumption and step up the process of economic structural readjustment, reform and innovation in a bid to maintain a long-term, stable and sustainable growth for its economy.

The Chinese vice premier also called for the two nations to handle their relations from a long-term and strategic perspective to increase mutual trust and cooperation.

Agreeing with Li's views on the world economy and bilateral relations, Geithner spoke positively of China's development and its economic reform, saying that the United States would intensify its dialogues and exchanges with China in an aim to boost the bilateral ties.

The annual S&ED was created in 2009 to help both nations manage their bilateral relations and promote communication.