Talks take on global dimension

Restoring global confidence and preventing the current financial crisis from spreading, especially to developing countries, are key tasks facing the world now, Vice-Premier Wang Qishan told top officials from China and US yesterday.

China hopes the US stabilizes its financial market to ensure the safety of its assets there; and Beijing would like to work with Washington to revive the health of the international financial system, Wang said at the opening ceremony of the fifth Sino-US Strategic Economic Dialogue, a two-day event that began in Beijing yesterday.

Initiated by President Hu Jintao and US President George W. Bush in late 2006, the SED mechanism brings together high-profile officials from the two major economies to foster direct engagement and work on critical issues of mutual interest to promote bilateral economic relations.