China, US to strengthen policy coordination

China and the US should strengthen policy coordination during their respective reform and restructuring process, Chinese President Xi Jinping said on Friday. Xi made the comment in a meeting with special representative of US President Barack Obama, Treasury Secretary Jacob Lew, in Beijing, according to China's state-run Xinhua News Agency. "China's comprehensive reform and opening-up will not only provide strong momentum to China's development, but also bring more new opportunities for China-US economic cooperation and other countries in the world," Xi was quoted as telling Lew. By doing our own things well, China and the US, as the largest developing country and largest developed country, are making the biggest contribution to the world, Xi said. "China hopes the US advances restructuring, realizes fiscal stability and sustainability and ensures steady economic recovery and growth," Xi said. China and the US should strengthen policy coordination during their respective reform and restructuring process, expand mutual interests and explore new opportunities for cooperation by facilitating bilateral investment treaty negotiations, the president said. He also called on the two countries to enhance cooperation in international and regional affairs, promote regional cooperation and world prosperity in an open and inclusive manner. For his part, Lew said Washington supports Beijing in continuing market economy reform, which is important to the US and the world. "The US is also pushing domestic reform and hopes to enhance communication and exchanges with China through the Strategic and Economic Dialogue and expand partnership in trade, energy, climate change and food security," Lew said. This will not only be conducive to the Chinese and US economies, but also the robust, sustainable and balanced growth of the world economy, Lew said, adding that the US is willing to work with China to address global and regional challenges.