(L to R) China's State Councilor Dai Bingguo, China's Vice Premier Wang Qishan, US Secretary of State Hillary Clinton and US Treasury Secretary Tim Geithner jointly meet the press in Washington, the United States, on May 10, 2011. [Xinhua]

Chinese investments in the United States are expected to grow rapidly in the future, said US Treasury Secretary Timothy Geithner on Tuesday.

"I am very confident that if you look over the next several years, you're going to see Chinese investment in the United States continue to expand very, very rapidly," Geithner said in a press briefing after the third round of China-U.S. Strategic and Economic Dialogue (S&ED) concluded.

"We welcome Chinese investment in the United States," said Geithner, adding that the U.S. has an "open" investment regime.

During the two-day event, China and the United States reached a number of agreements to boost economic ties and promote sustainable growth.

Chinese Vice Premier Wang Qishan and Geithner signed "U.S. China Comprehensive Framework for Promoting Strong, Sustainable, and Balanced Growth & Economic Cooperation" on Tuesday, paving the way for further cooperation between the two countries in economic areas in the future.

Deputy head of the National Development and Reform Commission Zhang Xiaoqiang said the Comprehensive Framework can help open up new areas of cooperation and help develop new growth models for both countries.

US President Barack Obama met with Vice-Premier Wang Qishan and State Councilor Dai Bingguo, who were leading the Chinese team, after the talks on Monday.

The two-day S&ED is co-chaired by Chinese Vice Premier Wang Qishan, State Councilor Dai Bingguo and U.S. Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner.

The dialogue mechanism was upgraded from former Strategic Dialogue and biennial Strategic Economic Dialogue, which were initiated by the two heads of state in 2005 and 2006, respectively.