On December 15, 2006, China and the United States concluded their first strategic economic dialogue which lasted one and a half day at the Great Hall of the People in Beijing. Chinese Vice Premier Wu Yi and U.S. Treasury Secretary Henry Paulson co-chaired the closing ceremony as special representatives of President Hu Jintao and President George W. Bush.

Wu said in the dialogue both sides have earnestly implemented important consensus reached by the two heads of state by adopting a realistic and pragmatic approach and achieved satisfactory results. Both sides focused on "China's development road and economic development strategy," and had in-depth discussions on a wide range of topics, including balanced development between urban and rural areas, China's sustained economic growth, promoting trade and investment, energy, and environment and sustainable development. During the process of the dialogue, both sides have always conducted the dialogue in an active and candid manner and have built up understanding, common ground and mutual trust with consensus reached on some specific issues. Wu believed that the Sino-U.S. strategic economic dialogue will have a positive influence on the sound development of economic and trade ties as well as constructive cooperative relations between the two countries.

Paulson expressed thanks for China's thoughtful arrangements and careful preparations for the dialogue. He said the U.S. side, through the dialogue, has learnt a lot from the introduction by the Chinese side and gained a better understanding of China as well as of its policies. Both sides also held in-depth and fruitful discussions on sustainable development of economic and trade ties, market opening-up, investment promotion, environmental protection, energy efficiency and other issues. Both sides will face more arduous tasks in the future, Paulson said, adding that the U.S. side looks forward to the second strategic economic dialogue with China to be held in Washington next year.

Both agreed to hold their second strategic economic dialogue in Washington, capital of the United States, next May, with topics covering innovation, education and bilateral trade relationship.

After the closing ceremony, Wu and Paulson jointly met with the journalists from home and abroad.