Second, the economic stimulus plans implemented by China and the United States have created new business opportunities.
To counter the impact of the international financial crisis and maintain steady and relatively fast economic development, the Chinese Government has introduced a proactive fiscal policy and a moderately easy monetary policy and adopted a package plan to further stimulate domestic demand and generate economic growth.
To get out the economic crisis, the U.S. Government has also introduced the biggest economic stimulus package since the 1930s, covering finance, real estate, taxation, infrastructure, the auto industry, environmental protection, energy, science and technology and health care reform, among others.
"The implementation of our respective stimulus plans has offered new business opportunities for economic cooperation and trade between our two countries," Wu said.
Just before the opening of Tuesday's Forum, the two sides signed 41 agreements and contracts on investment and economic and technological cooperation worth a total of 12.38 billion U.S. dollars, involving such areas as new energy and materials, communications, electronics, machinery and tourism, Wu said in his speech.
"This is further evidence of the abundant cooperation opportunities between China and the United States. As long as we work to seek opportunities in this time of crisis, there is a lot we can achieve together," he said.
Third, the economic restructuring strategies of China and the United States will open up new areas of cooperation.
China and the United States are at different stages of economic development, but both face the arduous task of readjustment and are under pressure to adjust their respective economic development models even without an international financial crisis, Wu said.
"The financial crisis, if anything, has only made this task more urgent, " he said.
The U.S. Government wants to adjust the development model while tackling the financial crisis and considers green technologies essential to its efforts to revitalize economic growth, enhance international competitiveness and create jobs. Likewise, China, in its effort to maintain steady and relatively fast economic development, aims to achieve sustainable development while resolving the current difficulties, Wu said.
"We are making great effort to adjust economic structure, upgrade industries and expand domestic demand, especially consumer demand, and transform the economic development model," Wu said.
"As China and the United States restructure our respective economies, we can foster new areas of economic and trade cooperation, especially in the economic and technological fields and between businesses. They may range from low carbon economy, renewable energy, clean energy, clean coal, carbon capture and storage to smart grid, efficient buildings and new energy vehicles, " Wu said.
Wu arrived in Arizona on Sunday on the final leg of a three- nation North American tour. He has left Arizona for Washington for a visit in which he is expected to meet with President Barack Obama, Vice President Joe Biden, Secretary of State Hillary Clinton and House Speaker Nancy Pelosi.
(Xinhua News Agency September 9, 2009)
