Chinese Premier Wen Jiabao of the State Council met with the special representative of the US President and Secretary of Treasury Henry Paulson at Ziguangge, Zhongnanhai on September 22, 2006.

Wen extended his congratulation on the launch of the strategic economic dialogue between China and the United States. He said that economic and trade relationship is an important component of China-US relations. The economic and trade ties between China and the United States are getting increasingly close and exerting ever greater influence over the global economy as the bilateral trade and investment increase. Therefore, it is good to create this strategic economic dialogue mechanism which is conducive to dispelling misunderstanding and enhancing cooperation. The dialogue should follow the principles of mutual respect, equality, mutual benefit, step-by-step advance and win-win cooperation. Both sides should discuss major bilateral and global economic issues from a long-term and strategic perspective.

Wen said that the economic and trade relationship between China and the United States is growing with a good momentum, but there are still some problems. China-US economic and trade relationship should be stable and long lasting and both sides should care for each other's concerns. In 2003 he put forward 5 principles of handling the bilateral economic and trade relations to President Bush. Those principles were made with a strategic view and taking into account the long-term benefits of both sides. So long as we follow these principles we will surely overcome the problems arising from cooperation and push forward the healthy and stable development of China-US economic and trade relations.

Wen pointed out that China will unswervingly follow the road of reform and opening up and continue to push ahead the reform of the economic, political, cultural and social systems. China cannot develop in isolation from the world. We will, as always, stick to the basic national policy of reform and opening up, which we will never change.

Paulson said that as a historical event in the bilateral relations the creation of the strategic economic dialogue mechanism has drawn high attention from President Bush himself and the US government. The US side expects to work with China to make the dialogue work well and discuss issues of mutual concern from a strategic and long-term perspective so as to enhance mutual trust and strengthen cooperation.

Paulson said that the fast growth of bilateral economic relationship is closely interlinked and frictions in this process are unavoidable. The US side is willing to work with the Chinese side to seek proper solutions to those frictions. The US also noticed the concern of China on some issues and would like to make constructive efforts to promote the healthy and stable growth of China-US economic and trade relations. Paulson said that the United States supports China's reform and opening up and believes the reform and opening up not only conforms to the interest of China but also offers more chances for the United States and the world at large.

Also present at the meeting were Minister of Finance Jin Renqing, Vice Foreign Minister Dai Bingguo and President Bush's Economic Advisor R. Glenn Hubbard and US ambassador to China Clark T. Randt.