Hu Jintao: China Will Continue To Steadily Push Forward The Reform Of RMB Exchange Rate Formation Mechanism.

Xinhua Beijing, May, 24, Chinese President Hu Jintao said on the 24 day that China will continue to steadily push forward the reform of the RMB exchange rate formation mechanism in accordance with the principles of initiative, controllability and gradualism.

On the morning of the second round of the opening ceremony of the Sino US strategic and Economic Dialogue held in the morning, Hu Jintao delivered a speech entitled "efforts to promote the establishment of a positive, cooperative and comprehensive Sino US relationship in twenty-first Century".

Hu Jintao said that China will continue to pursue a win-win strategy of opening up, expand market access in accordance with the prevailing international economic and trade rules, support the improvement of the international trade and financial system, and facilitate the liberalization and facilitation of trade and investment.

China will accelerate the pformation of the mode of economic development, expand domestic demand and increase consumption, actively promote the healthy and balanced development of foreign trade, and oppose all forms of protectionism.

Hu Jintao said that China will continue to follow the path of peaceful development, develop friendly cooperation with all countries on the basis of the five principles of peaceful coexistence, do not interfere in other countries' internal affairs, impose their will on others, and work together with other countries in the world to promote a lasting peace and a harmonious world of common prosperity.

Beijing, May, 24 (Xinhua) the opening ceremony of the second round of China US strategic and economic dialogue was held in the Great Hall of the people this morning.

Chinese President Hu Jintao attended the opening ceremony and delivered speeches.

Chinese Vice Premier Wang Qishan, US Secretary of state Clinton, Chinese State Councilor Dai Bingguo and U.S. Treasury Secretary Geithner also delivered a speech at the opening ceremony.

After the opening ceremony, China and the United States will hold strategic dialogue and economic dialogue.

Under the framework of the strategic dialogue, relevant departments of the two countries will conduct bilateral consultations and bilateral meetings on energy security, climate change, UN peacekeeping and counter-terrorism.

Under the framework of the economic dialogue, the two sides will focus on topics such as economic recovery and growth, trade and investment, financial market stability and reform, and the reform of the international financial system, focusing on the theme of "Sino US economic partnership of mutual benefit and win-win development".

{page_break}

The second round of strategic economic dialogue between China and the United States (S&ED) opened in the Great Hall of the people at nine a.m. on 24.

Chinese President Hu Jintao attended the opening ceremony and delivered a speech.

Later, the Sino US economic dialogue team will present the opening ceremony of the economic dialogue at Diaoyutai. According to the seating list of the first Financial Daily reporters at the scene, the US presence includes US Treasury Secretary Geithner, US Trade Office representative Kirk, Federal Reserve Chairman Bernanke, US business secretary Luo Jiahui, US health minister Sebelius, President of the US import and Export Bank Hawke Berg, White House economic policy director Romer, and so on.

On the Chinese side, the list includes Chinese Vice Premier Wang Qishan, Chinese finance minister Xie Xuren, China Development and Reform Commission Director Zhang Ping, Chinese Commerce Minister Chen Deming, Chinese health minister Chen Zhu, governor of China's central bank Zhou Xiaochuan, director general of China Quality Inspection Administration, Wang Yong, chairman of the China Banking Regulatory Commission, chairman of the SFC, chairman of the China Insurance Regulatory Commission, and so on, and all leaders of the three leaders will arrive.

China US dialogue on us or exchange rate negotiation strategy

"First Financial Daily" was informed that this time, the US side has a clear attitude on the issue of exchange rate, and has been identified as the top topic. However, the strategy of changing the negotiating strategy has been turned into a quiet negotiation.

Geithner, senior director of China's Ministry of finance, told reporters that he had a very clear attitude in economic negotiations. Although other issues were also discussed, exchange rate and independent innovation were the two major issues.

On the issue of RMB exchange rate, Luo Jiahui, Secretary of Commerce of the United States, said to our reporter that on the exchange rate issue, "I can not disclose our strategy, but we have extensive bilateral dialogue with China."

On May 20th, when the Ministry of Foreign Affairs held a briefing on the second round of Sino US strategic and economic dialogue, Chinese Assistant Minister of finance Zhu Guangyao reiterated that China's unwavering direction in promoting the reform of the RMB exchange rate mechanism is.

But at the same time, Zhu Guangyao stressed that China and the United States should "communicate quietly" on the issue of exchange rate.

Luo Wen Jie said that at present, the United States does not know when China will remit foreign exchange, but he also believes that China will push ahead with more market-oriented reform in the light of its own interests.

He believes that in addition to S&ED, the multilateral trade contracts of the 20 summit of Canada in June are also places for China and the United States to talk about exchange rates.

Reporters learned that the S&ED strategic dialogue will carry out two broad range talks, including how to promote Sino US partnership in the new era, how to strengthen coordination and cooperation on major international and regional issues, and how to promote cooperation in the international system reform and the Asia Pacific regional cooperation mechanism.

At the same time, the economic dialogue will be divided into three special sessions, namely, the promotion of strong economic recovery and more sustained and balanced growth, and the promotion of mutually beneficial and win-win trade and investment, which will focus on the issues of independent innovation and intellectual property rights, as well as the stability and Reform of financial markets.