Chinese President Hu Jintao says he appreciates US
efforts to work together with China to combat the global financial crisis. His
comments came Tuesday in a meeting with visiting U.S. Treasury Secretary Timothy
U.S. Treasury Secretary Geithner met Tuesday with two of
China's top leaders, including Premier Wen Jiabao and President Hu
Mr. Hu had special praise for Geithner.
Hu says he
appreciates the U.S. official's efforts to cooperate with Chinese colleagues in
dealing with the financial crisis.
Geithner said cooperation between the
United States and China is already showing positive results.
"I think we
have already demonstrated the capacity of our two countries to work together on
the global stage to lay a foundation for economic recovery. And I think, partly
because of the strength of the actions that have been put into place by your
government and by President Obama, we are starting to see some early signs of
stabilization and recovery in the global economy," said Geithner.
round of interviews with Chinese media Tuesday, Geithner said one of his main
goals was to reassure Chinese officials that Washington is determined to bring
down the size of its deficits, once the current crisis has passed.
is America's largest creditor, with Treasury securities holdings worth $768
This year's U.S. budget deficit is expected to surpass $1.8
trillion, four times the previous single-year record.
United States and China will inaugurate their Cabinet-level Strategic and
Economic Dialogue in Washington in the last week of July.
Secretary Geithner and Chinese Vice Premier Wang Qishan will lead the economic
track of the so-called SAED. Secretary of State Hillary Clinton and Chinese
State Councilor Dai Bingguo will head parallel talks on strategic and security
The high-level talks will take place, once a year, in alternate