Visiting Chinese Vice Premier Wang Qishan (front L) shakes hands with US Treasury Secretary Henry Paulson (front R) at the opening ceremony of the 4th round of China-US Strategic Economic Dialogue in Annapolis, Maryland, the United States of America, June 17, 2008. China and the United States on Tuesday started here their 4th round of Strategic Economic Dialogue.

China and the United States pledged to further and expand mutual cooperation at the 4th round of their Strategic Economic Dialogue (SED) on Tuesday.

"Due to the complicated, changeable nature of the current global economic and financial situation, both China and the US are facing a lot of challenges. Holding the 4th SED under such circumstances will have special significance for us to enhance mutual strategic trust, deepen economic and trade cooperation, and respond jointly to challenges," visiting Chinese Vice Premier Wang Qishan said at the opening session of the meeting.

Wang listed three proposals for this round of dialogue.

The first is to adhere to the topics of the meeting and expand consensus.

"Those topics reflect the major issues facing our two nations and basically cover the areas that have strategic and long-term impact for both our countries," Wang said.