China disagrees to so-called G2, calling for effort to fight protectionism

• Source: Xinhua
• [19:36 November 18 2009]
• Comments

Chinese Premier Wen Jiabao meets visiting US President Barack Obama in Beijing on Nov. 18, 2009.

Obama, who described US-China relations as of global significance, said US-China cooperation is crucial as far as major global issues such as economic recovery, climate change and regional and global peace are concerned.

He hoped the two countries would abandon distrust and misunderstanding, strengthen exchange and cooperation, so as to push US-China relations forward.

The United States appreciates and supports the Chinese government's efforts in developing the economy and reducing poverty, said Obama, adding that the development of China is beneficial to the world.

The United States and China are important trade partners for each other, which has brought huge benefits to both countries, while trade protectionism does no good to either side, Obama said.

He said the United States appreciates China's efforts to adjust the economic structure, expand domestic demand, protect intellectual property rights and reform the Renminbi exchange rate regime.

The United States would properly handle bilateral trade frictions so that they would not harm the interests of the two countries, Obama said.

The United States has noted China's concern over the export control to China and is willing to take measures and increase high-tech product exports to China, he added.