On January 10, 2012, President Hu Jintao's special representative and Vice Premier Wang Qishan held working talks with U.S. President Barack Obama's special representative and U.S. Treasury Secretary Timothy Geithner in Beijing.

Wang first extended welcome to Geithner for his visit. Wang hailed the momentum of economic cooperation between the two nations over the past year. The two sides have seriously implemented the important consensus of building the cooperative partnership based on mutual respect and mutual benefit. "The Chinese side is willing to work together with the U.S. side to further cooperation in various fields including economy and trade, investment, finance and infrastructure, in order to spur the economy, increase jobs, and create more benefits for the people of the two nations," said the Chinese vice premier. Wang also urged the United States to loosen export control of high-tech products to China and be cautious about the use of trade remedies, adding that he hopes that those Chinese enterprises that invest in the United States will enjoy fair treatment there.

The global economic recovery must remain the priority for all nations as the world economic situation is still "very complex and grim," said Wang. As important G20 members, China and the United States should make joint efforts with the other members to ensure the success of the Los Cabos summit and to support strong, sustainable and balanced global growth, he said.

Geithner spoke highly of the fruitful results of President Hu's state visit to the U.S.. He said that the smooth development of relations between the United States and China is not only in the interests of the two nations, but also conducive to the recovery of the world economy. The United States is willing to make joint efforts with the Chinese side to step up communication and cooperation and deepen the comprehensive and mutually beneficial economic partnership between the two nations, he added.

The two sides also discussed the European sovereign debt crisis, the reform of global economic rules and standards and other issues of common concern.