Chinese Vice Premier Wang Qishan speaks during the third annual US-China Strategic and Economic Dialogue (S&ED) at the Department of the Interior in Washington May 9, 2011.[Xinhua]

China and the United States have far more shared interests than differences, and nothing can hold back the momentum of cooperation, Vice-Premier Wang Qishan said on Monday.

He made the remark at the opening of the third round of the China-US Strategic & Economic Dialogue in the US capital.

The Chinese team is led by Wang and State Councilor Dai Bingguo. US Treasury Secretary Timothy Geithner and Secretary of State Hillary Clinton lead the US team.

The focus will be on trade, investment and finance during the two-day talks, as well as foreign policy. Both sides hope to build on the progress made during President Hu Jintao's state visit to Washington in January. That visit helped smooth relations that had been strained last year over issues such as US arms sales to Taiwan.

"With vision and foresight, the two presidents opened a new page in China-US relations," Wang said.

Leaders from both sides sounded upbeat on the talks, emphasizing trust and common ground while trying to narrow differences.

Geithner said that sound China-US relations will benefit not only the two countries, but also the world economy.

"Our ability to work together is important to the overall health and stability of the global economy.

"Thanks in no small part to the actions of the US and China, we have put out the worst of the financial fires and the world economy is growing again," Geithner said.

Clinton said the annual talks aim to build a stronger relationship, "to weather through disagreements when they arise, and narrow areas where our interests diverge".

But she noted "success depends on translating good work in talks into action".

"We need to better understand each other, build trust to work to avoid misunderstanding and miscalculation."

She did not refrain from mentioning obstacles in relations, as "some in the US see China's growth as a threat, while some in China worry America seeks to constrain China".

"A thriving US is good for China, and a thriving China is good for the US," she said.

US Vice-President Joe Biden said the two sides "have to be honest with each other and find common ground, including on sensitive issues, to avoid miscalculation".

He welcomed Chinese investment in the US and the more than 50,000 jobs it created.