The two leaders were also keen to reduce remaining tensions resulting from China's launch of the Asia Infrastructure Investment Bank (AIIB), in which the USA is not participating. American fears that this new venture might weaken China's commitment to the existing development institutions were alleviated when the Chinese side promised to increase its financial contributions to the World Bank and regional development banks, beginning with the International Development Association, the World Bank's main concessional lending facility for the poorest countries.

China also assured the U.S. that the AIIB, and any other new and future institutions it was involved in, would abide by the highest international environmental and governance standards, addressing another long-standing American concern.

The emergence of this agreement is a clear sign that both sides are moving away from the somewhat confrontational stance adopted at the time of the AIIB's launch, when the U.S. tried unsuccessfully to persuade her close allies not to participate in the new institution. Speaking of the AIIB and the "Belt and Road" initiative, President Xi stated that "these initiatives are open, transparent, and inclusive, and we welcome the U.S. and other parties to actively participate in them."

One wholly non-contentious issue, which nevertheless remains a foundation for lasting good relations between great nations, is people-to-people exchanges, which have grown impressively in recent years, but for which there is always room for more growth, as the vast majority of U.S. citizens do not even possess a passport.

A U.S.-China Tourism Year has been announced for 2016, a cooperative venture between the U.S. Department of Commerce and the China National Tourism Administration to expand and shape travel between the two countries. This should promote business exchanges as well as tourism.

Furthermore, an initiative called "One Million Strong," funded from Chinese/American business circles, aims to have one million American students studying Mandarin by 2020.

Even the most prominent and successful of visits cannot solve all the problems between two countries. But this visit, emphasizing as it did the need to expand common ground and increase mutual understanding and the scope for cooperation, has certainly created an impression that both sides have their eyes firmly fixed on a peaceful way forward, knowing that increasing the areas of mutual interest means reducing the chances of future conflict.

The writer is a columnist with China.org.cn. For more information please visit:http://www.ccgp-fushun.com/opinion/timcollard.htm

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