Renminbi exchange rate

On public occasions throughout the dialogue, U.S. delegates kept a low-profile on the sensitive issue of the renminbi exchange rate.

Chinese President Hu Jintao has reiterated that China will continue to steadily advance the reform of the exchange rate mechanism under the principle of independent decision-making in a controllable and gradual way.

U.S.-China Business Council President John Frisbie said the U.S. side welcomes "President Hu's affirmation to reform his country's exchange rate administration and China's desire for increased coordination in re-balancing economic growth models."

Analysts say the consensus reached on the issue by both sides during the dialogue probably indicates a postponement in the anticipation of the renminbi's appreciation.

Energy cooperation

Energy cooperation was considered to be the most concrete and pragmatic part of the dialogue, accounting for 10 of the 26 tangible outcomes.

In fact, clean energy has been a bright spot in the China-U.S. economy and trade relations in recent years, and both sides have sent out positive signals for close cooperation. They agreed to strengthen cooperation on stabilizing the international energy market, ensuring energy supplies and optimizing energy use.

Kenneth Lieberthal, director of the John L. Thornton China Center at Washington think-tank Brookings Institution, said the dialogue further advanced bilateral cooperation on green technology.

If a comparatively barrier-free bilateral economic relationship could be established in this area, trade and investment barriers will be reduced to the benefit of the two governments, Lieberthal said.

Trade and investment environment

During this round of the dialogue, progress also has been made on improving the trade and investment environment.

The two sides agreed to begin this summer a series of talks between Chinese and U.S. experts and senior-level officials to address U.S concerns about China's independent innovation policy in government procurement.

China also pledged to sumbit an amended version of its government procurement agreement to the WTO by July, which was well received by the U.S. side.