Talks on a bilateral investment treaty have been accelerated, and the negative-list negotiation also started in 2015, as both countries seek to increase mutual investment, which only accounts for a tiny share of their overseas investment.

The upcoming S&ED is a high-level dialogue that serves as the flagship in the various dialogue mechanisms the two countries have developed. On the economic track, the two sides will have in-depth discussions on such topics as macroeconomic policy-making, trade, investment and financial reform.

Peopel-peole exchange

The CPE, along with the S&ED, is among more than 90 dialogue mechanisms between China and the United States. It has become the most important regular platform to deepen bilateral people-to-people exchanges and cement understanding between Chinese and US citizens.

As a main program of the CPE, the biennial China-US Cultural Forum, which has been held since 2008, has helped promote understanding and strengthen ties between the Chinese and US people. The fourth edition was held in Washington in April.

In December 2014, China and the United States launched a new fellowship initiative aimed at sponsoring 15 to 20 American professionals interested in Chinese culture and China-related work to visit and study in China every year through 2024.

The initiative is one of the latest additions to the programs under the CPE.

Military exchange

In the military sphere, China and the United States agreed in 2014 on establishing a new type of military relations to match the new type of major-country relationship between them.

The defense departments of the two countries have signed memorandums of understanding on establishing a mutual reporting mechanism on major military operations and a code of safe conduct on naval and air military encounters.