The first round of China-U.S. Strategic and Economic Dialogue concluded on Tuesday with pledges to enhance bilateral cooperation on regional and international issues.

Chinese Vice Premier Wang Qishan co-chaired the Economic Track with U.S. Treasury Secretary Timothy Geithner, while Chinese State Councilor Dai Bingguo co-chaired the Strategic Track with U.S. Secretary of State Hillary Clinton.

Also on Tuesday, U.S. President Barack Obama met with Wang and Dai at the White House.

During the two-day dialogue, officials from China and the U.S. held face-to-face talks addressing the challenges and opportunities that both countries face on a wide range of bilateral, regional and global topics of immediate and long-term strategic and economic interests.

The two sides recognized that close high-level contacts and exchanges play an irreplaceable role in developing China-U.S. relations and confirmed that President Barack Obama will visit China later this year at the invitation of President Hu Jintao.

The two sides agreed to expand exchanges between the two militaries at all levels. Vice Chairman of China's Central Military Commission General Xu Caihou is due to visit the U.S. within this year at the invitation of U.S. Defense Secretary of Robert Gates.

The two sides intend to build on already growing educational, athletic, scientific and technological exchanges, and to continue to hold the U.S.-China Cultural Forum, said a joint press release issued at the end of the dialogue.

The two sides negotiated a memorandum of understanding to enhance cooperation on climate change, energy and the environment, led by the Department of State and Department of Energy in the U.S., and the National Development and Reform Commission in China, according to the press release.

On the economic front, Chinese and U.S. officials focused on the international financial crisis. Both sides believed that the stimulus of economic growth remains the first task for China-U.S. cooperation in the process of recovery of the global economy from the unprecedented financial crisis since the Great Depression of 1930s.

The two sides agreed to beef up the coordination of general economic policy to stabilize the financial market, to upgrade economic growth, and to increase employment.

The two sides pledged to strengthen cooperation in speeding up the adjustment of the industrial structures, the transformation of health care and the building of social security.

They agreed to ensure financial security and stability in both countries and the international financial market as well. The U.S. side is committed to closely supervise and monitor the influence of currency policy on domestic development and that of other countries in the world.

The United States is also committed to providing China with convenience in export of high technology products, and is willing to join hands with China to seek international recognition of China's market economy status.

The two sides agreed to support the expansion of investment in infrastructure and to continue negotiations over a bilateral investment protection accord.

In addition to economic issues, the two countries also discussed the nuclear issue on the Korean peninsula, the situation in South Asia and the Middle East, climate change, energy security, environment protection, public health and other issues of mutual concern.

The two sides resolved to maintain close communication and coordination and work together with the rest of the international community for the settlement of conflicts and reduction of tension that trigger regional and global instability, the press release said.

(Xinhua News Agency July 29, 2009)