In a dinner hosted by the US business community on Wednesday, Wang said the global economy during the next three to five years will still experience gradual growth.

"This has made China-US economic relationship especially important," he said.

He quoted Xi Jinping, the newly elected Party chief, in saying that both sides must "foster positive energy in developing China-US ties."

"My visit this time is exactly to add to this positive energy," Wang said.

"Our relationship, particularly commerce and trade relations, has never been more important. And the JCCT has been important to this growth (of bilateral trade)," Acting US Secretary of Commerce Rebecca Blank said.

"We are entering a unique moment in which we can work together to ensure long-term and short-term goal of our relationship," said Blank, referring to the US presidential election and China's 18th Party Congress, both of which took place last month.

US Trade Representative Ron Kirk, who is expected to leave the second Obama administration in January, praised Wang for his leadership and participation in every JCCT session and Strategic and Economic Dialogue since President Barack Obama took office in 2009.

"Our presence demonstrates that our two countries can work hard to resolve bilateral trade and investment issues through engagement and dialogue at the highest level," he said.

Related:Locke urges continuity in Sino-US relations

But he said true success for the JCCT is to deliver measurable results that will help stabilize bilateral trade and investment ties.

The two sides signed two agreements on Wednesday: a report on statistical discrepancies on merchandise trade and an MOU on support of trade cooperation between the two nations.

China's Minister of Commerce Chen Deming also described the JCCT session on Wednesday as "reaching multiple consensus and achieving positive results".

He pledged China will step up the enforcement of its IPR laws, including the software used by State-owned enterprises, banks and government entities. Chen said he had yet to see any US action being taken to relax export controls to China and to treat Chinese FDI fairly.

He said both sides have pledged to fight protectionism, expressing his concern to the US Department of Commerce announcement on Tuesday to levy high tariffs on wind towers imported from China.

In discussions about agriculture, the US seeks to expand beef exports to China while China wants to beef up poultry exports to the US.

"American companies continue to see progress as a result of the high-level engagement from the JCCT meeting," John Frisbie, president of the US-China Business Council, said in a statement on Wednesday. The council is an organization representing approximately 240 US companies that do business with China.

"JCCT meetings have been one of the principal vehicles for addressing specific issues in the US-China commercial relationship over the past three decades. It is important in this transition period for both governments to ensure that the JCCT continues to play an important role," Frisbie said.

chenweihua@chinadaily.com.cn

(China Daily 12/20/2012 page1)