Chinese and British officials convened the third China-UK Economic and Financial Dialogue in Beijing Tuesday to discuss bilateral cooperation and coordination on issues of common concern.

Chinese Vice Premier Wang Qishan and UK Chancellor of the Exchequer George Osborne co-chaired the dialogue.

China hoped the two sides could conduct thorough discussions on strategic, long-term and overall issues regarding bilateral economic ties, so as to inject vigor into the Sino-UK relationship, Wang said.

"The dialogue is an annual opportunity for us to build on our cooperation and friendship," said Osborne.

The dialogue coincides with the official visit by British Prime Minister David Cameron, who arrived in Beijing for a two-day stay Tuesday morning, and gathers leading British industry and commerce figures.

Osborne held talks with Chinese Vice Premier Li Keqiang on the eve of Cameron's trip Monday, and they pledged to boost bilateral economic and trade ties.

It is the first economic and financial dialogue between the two countries since Cameron took office in May.