The meeting between President Xi Jinping and US Treasury Secretary Jacob Lew so soon after China's leadership transition was a sign that both sides are committed to forging a stable bilateral relationship.

Against the backdrop of the continuing global economic uncertainties, the world's two largest economies have signaled that they are facing up to the challenge of properly managing their many differences.

The improvement in economic relations in recent years has greatly benefited the US' economic recovery. For example, China has been the fastest-growing market for US exports over the past decade, and the pace of growth has accelerated in recent years.