China commerce minister calls for stable growth of China-U.S. trade cooperation

5th Round of China-U.S. Strategic Economic Dialogue

Backgrounder: China-U.S. Strategic Economic Dialogue

BEIJING, Dec. 5 (Xinhua) -- China and the United States should strengthen mutual cooperation in all fields to meet the challenges brought about by global financial crisis, said China's minister of commerce Chen Deming here on Friday.

"Under the current situation, it is important to keep a stable development of Sino-U.S. economic and trade relationship," Chen said at a year-end dinner party held by the American Chamber of Commerce in China (AmCham-China).

Chen said China would play an active role in the international efforts to overcome the on-going financial crisis and further global economy.

While commenting on the fifth China-U.S. Strategic Economic Dialogue (SED) concluded on Friday, Chen said this round of SED showed the courage and confidence of both sides to cope with the global financial downturn.

The AmCham-China signed strategic agreements with 10 Chinese cities and provinces to promote economic cooperation between China's local governments and U.S. companies.

At present, China and the United States are each other's second largest trading partners with U.S. investment in China approaching60 billion U.S. dollars in the past 29 years.

About 17,000 American companies have opened businesses in China with annual sales value topping 100 billion U.S. dollars.