• Vice Premier Wang Yang and U.S. Treasury Secretary Jack Lew host the economic and financial sessions of the China-U.S. dialogue held in Washington DC recently.

Vice Premier Wang Yang and U.S. Treasury Secretary Jack Lew host the economic and financial sessions of the China-U.S. dialogue held in Washington DC recently. (Photo : www.vovworld.vn)

The two-day high level summit between China and the U.S. held in Washington, DC, on June 24, Wednesday, has resulted in nearly 300 economic and strategic agreements reached by the two countries. This, analysts said, reflects the multifaceted and progressive nature of Sino-U.S. relations amid concerns over cybersecurity issues and the South China Sea dispute, the Beijing Times reported.

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A new "negative list" was one of the agreements which outlines the sectors closed to foreign investment, and are part of the negotiations on a Bilateral Investment Treaty. The report said that the negative list contains updated items to be released in early September after President Xi Jinping's upcoming visit to the U.S. in the same month.

The other agreements reached in this year's Seventh China-U.S. Strategic and Economic Dialogue (S&ED) and the Sixth China-U.S. High-Level Consultation on People-to-People Exchange included some 119 on cultural exchanges, more than 100 on the strategic track, and some 70 items covering economic cooperation.

Vice Premier Wang Yang said during the closing ceremonies that in the two-day S&ED talks, the two countries had conducted "candid and in-depth exchanges," as both sides discussed how to build a new type of major-country relationship, and to enhance cooperation in the Asia-Pacific region and in the whole world.

The two countries also vowed to expand cooperation on the landmark agreement on combating climate change, reached during Xi's meeting with U.S. President Barack Obama in Nov. 2014, which also included a five-year extension of the Clean Energy Research Center.

Officials from both countries also discussed new cooperation areas for the first time and held a special session on ocean protection under the framework of the dialogue, which involved measures to promote maritime research, development, maintenance and protection.

They also discussed ways to expand cooperation between maritime enforcement agencies from both countries, including ways to combat illegal and unregulated fishing, among others.

The S&ED came at a time when both sides are concerned that bilateral ties may be strained over issues like the South China Sea and the establishment of the Asian Infrastructure Investment Bank (AIIB).

U.S. Treasury Secretary Jacob Lew said that the U.S. would continue to press China to move to a market-determined exchange rate, even after China has vowed to intervene in currency markets only in "disorderly market conditions," according to a report by Reuters.

U.S. Secretary of State John Kerry has expressed the deep concern of the U.S. government about cyber incursions, and the U.S.'s strong national interest in the freedom of navigation and overflight in the South China Sea.

State Councilor Yang Jiechi urged the two countries to work together on cybersecurity and called on the U.S. to be "impartial and objective" when it comes to the South China Sea issue.