The Third China-US Strategic Economic Dialogue opened in Beijng on Dec. 12, 2007. Chinese Vice Premier Wu Yi and US Treasury Secretary Henry Paulson, as special envoys of the two countries' heads of state, co-chaired the two-day meeting.(Xinhua Photo) Photo Gallery>>>

    BEIJING, Dec. 12 (Xinhua) -- China firmly opposes any attempt to politicize trade issues, Vice Premier Wu Yi said Wednesday.

    "Politicizing trade issues will harm the interests of not just one side, but both sides," Wu said at the opening ceremony of the Third China-U.S. Strategic Economic Dialogue (SED) held in Beijing on Dec. 12 and 13.

    "Thanks to accelerated economic globalization, the growing China-U.S. business relations featuring interdependence, mutual benefit and win-win progress have brought our two peoples increasingly closer to each other," the Chinese vice premier said.

Chinese Vice Premier Wu Yi (L Front) shakes hands with United States Treasury Secretary Henry Paulson before the start of the Third China-US Strategic Economic Dialogue in Beijng on Dec. 12, 2007. Wu Yi and Henry Paulson, as special envoys of the two countries' heads of state, co-chaired the two-day meeting, opened on Wednesday. (Xinhua Photo) Photo Gallery>>>

    "We all hope that both our economies will enjoy sustained growth so as to create more opportunities to expand cooperation in the interest of our respective development," she added.

    "This is why we must not allow some interest groups to harm ourwin-win business relations in pursuit of their selfish interests," she added.

    Wu also expressed her concern over the 50 or so protectionist China-related bills introduced in the U.S. Congress, saying that "I need to be quite candid about this: If these bills are adopted, they will severely undermine U.S. business ties with China."

Chinese Vice Premier Wu Yi (C Front) addresses the Third China-US Strategic Economic Dialogue in Beijing on Dec. 12, 2007. Wu Yi and US Treasury Secretary Henry Paulson, as special envoys of the two countries' heads of state, co-chaired the two-day meeting, opened on Wednesday. (Xinhua Photo) Photo Gallery>>>

    U.S. Treasury Secretary Henry Paulson, Secretary of Commerce Carlos Gutierrez and Trade Representative Ambassador Susan Schwab sent a joint letter to the U.S. Congress on July 30, rightly pointing out these moves can only be "counter-productive."

    About 160 U.S. multinational corporations and industry associations, including Microsoft, Wal-Mart, Citibank and Coco-cola, also sent a joint letter to the Congress on Sept. 26, emphasizing the U.S. trade sanctions against China would only cause negative impact rather than a positive one.

    Wu said, "I hope that the U.S. administration, the Congress and the media will heed the voice of the business community."

    "I hope they will not lose sight of the larger interests of the United States, follow the historical trend of economic globalization, appreciate the importance of its overall relations with China and the mutually beneficial nature of our business ties, and pursue the right trade policy so as to enable our two peoples to gain more from the continuous growth of China-U.S. business relations," she added.

Chinese vice premier urges to handle issue of food safety in a creative way

    BEIJING, Dec. 12 (Xinhua) - Chinese Vice Premier Wu Yi said on Wednesday that China and the United States should properly address new issues emerging in the course of the growth of bilateral business ties, turn difficulties and challenges into opportunities for cooperation and develop China-U.S. business ties in both depth and width. Full story

U.S. treasury chief stresses economic interdependence, warns against protectionism

    BEIJING, Dec. 12 (Xinhua) -- U.S. Treasury Secretary Henry Paulson stressed here Wednesday the economic interdependence between the United States and China, and warned against rising protectionist sentiment. Full story

Chinese Vice Premier calls for dialogue, consulation at China-U.S. economic talks

    BEIJING, Dec. 12 (Xinhua) -- Chinese Vice Premier Wu Yi advocated dialogue and consultation as the only way to settle economic and trade disputes at China-U.S. high-level economic talks which opened here Wednesday. Full story

China says consultation only way to solve trade disputes

    BEIJING, Dec. 12 (Xinhua) -- China and the United States should settle their economic and trade disputes through dialogue and consultation only, Vice Premier Wu Yi said Wednesday.

    Speaking at the opening ceremony of the bilateral Strategic Economic Dialogue, she recognized that the strong growth of China-U.S. business ties has boosted their cooperation in other fields and has become a foundation for the overall China-U.S. relations. Full story

PBOC governor: CPI surge, U.S. interest rate cuts to influence China policy 

    BEIJING, Dec. 12 (Xinhua) -- China's central bank governor, Zhou Xiaochuan, said on Wednesday that surging domestic consumer prices and recent U.S. interest rate cuts would have "considerable influence" over Chinese monetary policy.

    The central bank, the People's Bank of China (PBOC), would "seriously consider" the situation, added Zhou.  Full story