WASHINGTON - The China-US Strategic and Economic Dialogue (S&ED) has provided an important platform since 2009 for holding constructive discussions, building mutual trust and promoting ties between the world's two largest economies.

High-level dialogue

The fifth round of China-US S&ED, to take place in Washington DC this week, will be co-chaired by Chinese Vice Premier Wang Yang and State Councilor Yang Jiechi as well as US Secretary of State John Kerry and Treasury Secretary Jacob Lew.

The high-level officials will act respectively as special representatives of Chinese President Xi Jinping and his US counterpart Barack Obama.

The S&ED, initiated in 2009, aims to advance the China-US bilateral cooperative partnership, deepen communication and coordination on macroeconomic policies and major issues in the global economy, and boost economic and trade cooperation.

The dialogue mechanism was upgraded from former Strategic Dialogue and biennial Strategic Economic Dialogue, which were initiated by the two heads of state in 2005 and 2006, respectively.

Briefing reporters last week on the fifth round of S&ED in Beijing, Chinese Assistant Foreign Minister Zheng Zeguang said that the June summit between Xi and Obama in California drew a blueprint for China-US relations, and both sides will further exchange views on building a new type of relationship between major powers and topics including climate change and United Nations peacekeeping in the forthcoming high-level dialogue.

In the strategic track of 2012 S&ED held in Beijing, the two sides agreed to promote high-level exchanges, enhance dialogue and consultation, jointly address regional and global challenges, step up bilateral collaboration and expand cooperation in the fields of climate change, energy, environment, science and technology.

In the outcomes of the strategic track of the third round of S&ED held in Washington DC, the two nations acknowledged that the two sides have a wide range of common interests with a shared goal of maintaining peace, stability and prosperity in the Asia-Pacific region, and decided to establish a US-China consultation on the Asia-Pacific.

The two nations also decided to enhance communication and coordination on regional and global issues including the Korean Peninsula to jointly address common challenges and safeguard peace and stability.