Hillary Clinton: Pics of the Day at the U.S.-China S&ED

There were not a lot of pictures from today, but some of these certainly deserve to be shared and will likely draw some commentary. Enjoy!

Secretary Clinton's Interview With Anthony Yuen of Phoenix TV

Interview With Anthony Yuen of Phoenix TV

Hillary Rodham Clinton
Secretary of State

Secretary of Treasury Timothy Geithner; Chinese Vice Premier Wang Qishan; Chinese State Councilor Dai Bingguo

Washington, DC

May 10, 2011

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QUESTION: Madam, the annual dialogue is over, so what can you tell us what we accomplished this time?

SECRETARY CLINTON: Well, Mr. Yuen, let me start by expressing deep appreciation for these dialogues. For the last three years, as you know, we have held them – two in Washington, one in Beijing – next year we will be Beijing again. And there are very specific outcomes, agreements that are signed, particularly on promoting scientific research, on improving our cooperation in everything from clean energy to agricultural productivity. On the economic side, similarly, a lot of progress in making sure that Chinese businesses in the United States and American businesses in China have a chance to invest and compete.

But in addition to the specific outcome, what I am particularly pleased about is I believe we have developed greater understanding of one another and more trust. Ever since President Obama came into office, he and I have said that we support China’s successful rise. We think a successful, thriving China is good for the United States. We will have differences and disagreements. We are two very different people, and we have different histories. But overall, I think we have charted a very positive path forward.

QUESTION: You – I watch you at the – on the opening day, your speech. You keep on saying that we have to build up the mutual trust between our two countries. So after this meeting, after the two previous meeting, do you think we already build up those kind of trusts you’re trying to achieve?

SECRETARY CLINTON: I believe we have. And I think from the comments of my Chinese counterpart, State Councilor Dai Bingguo as well as Secretary Geithner and Vice Premier Wang, we all feel that we have delved into these issues quite deeply. And we have been willing to express to one another what we don’t understand – Why do the Chinese people feel this way; why do the American people do that?

And during the course of my extensive meetings in the strategic track, I think we have crossed a bridge so that we are willing to discuss at great length difficult, sensitive matters. In fact, for the first time ever, we had a special meeting that included military and civilian officials talking about strategic security issues. We don’t want misunderstanding and miscalculation. Where we have a difference, we want to be very clear about that difference so that there’s no confusion. And I think that creates a greater level of both understanding and trust.

QUESTION: So this morning I read all the major newspapers in this country. Essential to them, and I think as well as in China – they all focus on this is first time the military ranking – high-ranking military office meet each other. Is this a special meaning for us in the future?

SECRETARY CLINTON: I think it’s a very important development, because we want to be sure that as our governments on the civilian side take the time to really listen to each other, we do the same on the military-to-military side. We know that China has such tremendous potential, not just economically but also militarily. And we want to avoid miscalculation there as well. From the report that State Councilor Dai Bingguo and I received from the two leaders of the strategic security dialogue, it seemed as though they had quite a satisfactory conversation. It’s just a beginning, but one has to start somewhere, because we want to make sure that there are no surprises, there is an understanding of the positions that each of us takes, and where there can be cooperation we pursue it.

For example, one of the issues we’re beginning to discuss is with respect to disasters. We’ve had some terrible natural disasters in East Asia, earthquakes in China, Japan, New Zealand, flooding, terrible storms. And one could perhaps argue that the disasters are more intense because of changes in weather patterns. So how do we jointly plan on that? And I think both of use a combination of civilian and military resources.

QUESTION: Right.

SECRETARY CLINTON: So here’s an area where perhaps we can cooperate.

QUESTION: How about the (inaudible) of military exercise? Are we going to have – in the future, we have agenda or schedule to make the joint military exercise together?

SECRETARY CLINTON: I think certainly that could be on a future agenda, that there would be an opportunity to discuss that. But we had to start, and I think that was a good start today.

QUESTION: So for the past few years, I keep on listen – watching your speech. You’re always trying to convince Chinese people and government that United States not going to contain China. From your experience when you talk to those Chinese officials, are they being convinced by this?

SECRETARY CLINTON: I think that there’s a lot more understanding and confidence in our intentions and our action. State Councilor Dai Bingguo and I had a very interesting conversation, because he was explaining to me some of the many reasons why he believes that China should not fear the United States and why the United States should not fear China. I agree with that. But we are both large, complex countries, and we have many voices and many interests. We know that China has done a tremendous job in the last 40 years in lifting people out of poverty. We think that’s good for us, so we want to see that continue. At the same time, we want to see China’s economic system and its market become more open.

So we talk about that, and I know China doesn’t want to do anything that in any way interrupts the peaceful rise and the development of the Chinese people. But we make the case that opening up one’s market will actually benefit people. Well, so we have our point of view; the Chinese express their point of view, but that should not be viewed as any kind of interference from either side. We want to just put out all of our observations, and each country is, of course, always having the right to choose one’s own course.

We talk very, very openly about the problems that we’ve got in our economy and our political system that we have to pay attention to, and why, when we have economic problems, there is naturally going to be some concern on the part of some Americans about China’s economic success. So we try to make sure that everybody understands the different point of view.

QUESTION: In the past few years in that program, I was convince – try to convince the Chinese people, saying that criticize always come from good friends. You don’t think, this president is my good friend; I don’t try to criticize him, I don’t – I just want to – so we’re basically – so did you try, from your part, to convince Chinese people, hey, look, I am – you’re a good friend, so I criticize you?

SECRETARY CLINTON: Well, I think you’re right. I think that if you are indifferent to someone, you don’t even worry about that person. You could care less. You don’t want to have anything to do with them. I am very committed to our relationship, not only our government-to-government relationship but, even more importantly, our people-to-people relationship. And I think it’s gone in a very positive direction in the past years.

But at the same time, we have internal opinions, values, interests, just like China does. So we will say we’re not always going to agree, and we do have some questions and some criticism, which we’re happy to share with you in the hope that you will better understand us and maybe it will give you some ideas.

And I remember my first trip to China as Secretary of State. It was in the midst of the financial crisis. And Chinese friends had many critical things to say about our regulatory system, our economic system. And it was good not to pretend otherwise but to say, how did this happen, why did this happen, what are you going to do to fix it. So we’ve had, I think, a very good and friendly exchange.

Now, sometimes the media paints it as something other than part of the ongoing dialogue. And what I have told Americans is we will, for example, raise questions about human rights, but that doesn’t prevent us from working on critical issues that will determine the quality of life that people lead. How do we keep our economies growing? If the United States and China don’t cooperate, the world will suffer. How do we deal with climate change? How do we deal with energy? How do we deal with all of these issues – food security, clean water – which are critically important to the people that we both represent? So it’s not either/or. It’s a combination. It is, as both President Hu Jintao and President Obama said, we want a positive, cooperative, and comprehensive relationship.

QUESTION: I remember when once I read an article from your New York Times. It says you consider China as a banker, banker of United States. So you always trying to make this banker build up a closer relationship between United States and the banker. So for the past years, do you think we approach closer?

SECRETARY CLINTON: I do. And I remember when I said that. It was back in my campaign for president. And that was a criticism of my own government and my own political system; that when my husband left the presidency, the United States had a balanced budget and a surplus, and we were on a path to financial independence. For many reasons, at this point in time, we are deeply in debt, we run big deficits, and it’s deeply disturbing to many Americans.

So what I was pointing out is that we had, in effect, not just to China – we have Japan, European, we have many countries that have faith in the American economy and have bought American debt, but I prefer that we be more independent. I think it’s a better path for a nation. That’s not a reflection on our respect for China or Japan or Europe or anyone else.

So that was actually a criticism of my own country, but I think you are right to point out that we have worked hard in the Obama Administration to avoid what could have been an awkward relationship, where we were in a very difficult economic position and we did owe a lot of money to China, and we did have to figure out how to get the global economy going. And I really give both President Hu Jintao and President Obama a lot credit, because it could have been easy for Americans to overreact or for Chinese officials to say well, we’re not going to work together. But instead, they rose above the politics in both countries and they provided great leadership. And now, we are on the brink of moving away from the worst of the financial crisis which, if we had not worked together, could’ve become another Great Depression.

QUESTION: Right. One of the obstacle bothers our relationship is Taiwan –

SECRETARY CLINTON: Yes.

QUESTION: -- arm sales to Taiwan. And recently, before I come here, I read an article from the – a Taiwanese newspaper saying that they are going to give up the compulsory military service in – and replace with the enlisting system, so they give money. It’s fund – allocated money into that system now, so they want to delay maybe two or three years to purchasing these weapons or the military equipment from United States. What this shows to you?

SECRETARY CLINTON: Well, I’m not aware of that recent report, but we are committed to a one China policy. And in our dialogue, I expressed respect for the way that China has been creating more positive feelings and more cross-strait economic and other activities so that the relationship between China and Taiwan, it appears, is on a much better basis. And what we have continued to stress is that we want to see an improvement in China-Taiwan relations, and it is important for both sides to work together. But our position has always been based on the three communiqués and the Taiwan Relations Act, and it has not changed and it will not change.

QUESTION: And, for example, the people in Taiwan, including Ma Ying – President Ma Ying-jeou said that according to their constitution, they’ve been already independent. They don’t have to declare independence anymore. So in this case, what’s your position, in the U.S. position?

SECRETARY CLINTON: Our position is still the one China policy, and it will remain that. Now, we don’t take a position on Taiwan elections or Taiwan political statements. That’s for the Taiwanese people. But we do believe that the more there can be cooperative arrangements, like the recent economic agreements that were reached between Taiwan and China, the better that is for everyone.

QUESTION: One last question I want to ask you, otherwise my female audience will complain. (Laughter.) They keep on asking me, said if you have chance to ask Mrs. Clinton – how do you balance your public life, a good politician, and your private life as a wife and first lady or mother of Chelsea?

SECRETARY CLINTON: Well, it is a difficult question for any woman to answer, I think, Mr. Yuen. I think that the truth is that we all balance in our own way, and it depends upon what stage of life you’re in. I will be very honest with you in saying that it would have been impossible for me to do this job if my daughter were not already an adult and now a very happily married young woman. I could not have been away as much if I had had small children. You just have to try to balance where you are in your life.

And for young women with children, I often tell them that their most important job, once they have children, is the raising of their children. I am a strong supporter of women being able to work in the workplace and being able to make good decisions for themselves. I would like to see both of our countries do more to help more women in the workplace.

But women in my lifetime have certainly seen their opportunities expand. More young women are now in positions that had never been held by women before, so more young women will be working to balance their family responsibilities with their outside requirements, whether it’s in the workplace or in some other academic or athletic or entertainment pursuit.

And I guess the final thing I would say about that is I’m a very lucky person because I have been able to practice law, to be a law professor, to be a fulltime volunteer when my husband was president, to be a senator, to be a secretary of state. And I have a great commitment to helping more women have the opportunity to make the best decisions for themselves. And one of the aspects of the dialogue is this new women leadership program that we have started, so that I will be meeting with a large number of women leaders from China and women leaders from the United States. And when women in positions of responsibility get together, we often talk about what are the tricks for balancing family and work. And I know how lucky I am that I’ve had these opportunities, but I want more women, particularly young women, to have the same choices.

QUESTION: But do President Clinton and Chelsea complain you don’t give them more time?

SECRETARY CLINTON: Well, my husband’s pretty busy too, and my daughter is very busy, so we find as much time together as possible. We have a home in New York where we love to spend time together. We were just together over the past weekend for Mother’s Day. We talk on the phone, we email a lot. And I had the wonderful experience last summer of working on my daughter’s wedding. So I will, when I retire from this position, have much more time. But right now I work for as much time together as I possibly could schedule.

QUESTION: Thank you very much, Madam. Thank you.

SECRETARY CLINTON: Thank you. It’s wonderful to talk with you. Thank you.

Slideshow: China Day Starring Hillary Clinton

Mme. Secretary worked from early in the morning and late into the evening co-hosting the U.S.-China Strategic and Economic Dialogue with Secretary Geithner. Here are some pics of her amazing day.

Secretary Clinton: Concluding Joint Statements at the U.S.-China Strategic and Economic Dialogue

Concluding Joint Statements at the U.S.-China Strategic and Economic Dialogue

Great Hall of the People

Beijing, China

May 25, 2010

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MODERATOR: (Via translator) I now invite Special Representative of President Hu Jintao, Vice-Premier Wang Qishan to speak.
VICE-PREMIER WANG: (Via translator) Friends from the press, under the guidance of President Hu Jintao and President Obama, with the considered (inaudible) of both sides, the second round of China-U.S. S&ED have achieved complete success. This round fully illustrates the nature as being overriding, strategic, and long-term, and the principle of not replacing, not repeating, and not weakening exist dialogue mechanism between the related sectors of China and the United States. It has been candid, pragmatic, and successful.
China and the United States are respectively the largest developing country and developed country in the world. Our economic relationships (inaudible) and has had a global impact. Under the current extremely complicated circumstances, the two sides have had in-depth discussions, and expanded common ground on issues to each other's concerns, (inaudible) world economic situation, transform economic growth pattern, strengthen economic and financial cooperation, and reforming global economic governance (inaudible). Discussions, as such, are of a great importance to (inaudible) the upturn in our two economies and promoting strong, sustainable, and balanced growth of the world economy.
In fact, our two sides sitting together, having in-depth communications, candid exchanges, and rational discussions on our common interests and differences existing between us, this in itself is the most significant outcome of this round. As our economic relationship gets increasingly close, we are now able to take into full consideration our differences in history, culture, national conditions, development stage, economic structure, and market sophistication. We are now able to manage our differences and problems arising in the course of growing economic relationship with a more rational and mature manner. While upholding to our respective principles, we have better understood our positions, built a consensus (inaudible) cooperation, and achieved win-win.
Friends from press, I hope, through you, to make known to the world our firm confidence in working together to address challenges and promote the positive, cooperative, and comprehensive China-U.S. relationship (inaudible). Thank you.
MODERATOR: (Via translator) Thank you, Vice-Premier Wang. Now I would like to hand over the microphone to State Councilor Dai Bingguo.
STATE COUNCILOR DAI: (Via translator) Dear friends from the press, friends, good afternoon. With the personal care of President Hu Jintao and President Obama, and through the joint efforts of the two sides, the second round of the China-U.S. strategic and economic dialogues came to a successful conclusion.
Just now, President Hu Jintao and Premier Wen Jiabao met. Secretary Clinton, Secretary Geithner and other members, they had very rich and profound discussions. Our dialogues have taken two days. And, looking back, starting from 2005 we have had several rounds of strategic dialogues. And last year we had the first round of the strategic and economic dialogue. For the strategic dialogue we have had over 100 hours of dialogues. And this mechanism, I am afraid, is one of the most special mechanisms, if it is not the most unique mechanism in the world. And I think both sides need to make the best out of this mechanism, and continue to improve and safeguard this mechanism, and to serve the interest of building the positive, cooperative, and comprehensive relations.
And for this round of the dialogue I fully agree with Vice-Premier Wang Qishan's positive comments on the dialogues. During this round, Secretary Clinton and I reviewed the achievements made in the previous strategic dialogues. We had in-depth and candid discussions and communications with a focus on advancing China-U.S. relations in the new era, respecting each other's core interests and major concerns, strengthening coordination and major international regional issues, and jointly promoting transformation of the international system, and development of cooperation mechanisms in the Asia Pacific region.
Competent departments of the two countries held a consultation in bilateral meetings on issues including energy, security, climate change, and UN peacekeeping operations. We have signed a number of agreements, and the dialogues produced many results. Although we haven't agreed on each and every of the major issues, the dialogues, I believe, are conducive to the further advancement of the positive, cooperative, and comprehensive relations in 21st century.
We both recognize that the world has entered a post-financial crisis era. The circumstances we're in and the responsibilities on our shoulders decide that only by exchanging ideas closely we can expand our mutual trust. Only by advancing cooperation can we achieve and win results. And only by strengthening coordination we can meet the challenges. And only by helping each other out as passengers in this gigantic ship of China-U.S. relationship will (inaudible) forward, braving winds and waves.
We believe that the China-U.S. relationship is critical to both countries and the whole world. The two sides also believe that, to cultivate and deepen China-U.S. strategic mutual trust is important to the advancement of China-U.S. relationship in the new century.
The two sides emphasized that it is impossible for China and the United States to agree on all issues. And the two sides will have disagreements and differences. What is important is to observe the spirit and principles enshrined in the three Sino-U.S. communication, China-U.S. joint statement: respect and accommodate each other's core interests and major concerns; properly handle all defensive and sensitive issues, including Taiwan and Tibet-related issues; and consolidate the basics of mutual trust. As long as we keep to this right direction, we will be able to remove disruptions and obstacles and further advance our relations. The two sides re-emphasize that we will respect each other's core interests and major concerns. We will continue to properly handle the defensive and sensitive issues in the relations, according to the principle of mutual respect and equal discussions, so that our relations will steadily and soundly move forward.
The two sides stated that we will stay committed to increase the stability in the relationship. We agreed to advance communication, consultation, coordination, and cooperation on bilateral, regional, and global issues. During the dialogues, the two sides exchanged views on the current situation on the Korean Peninsula.
The two sides believe that ensuring peace and stability in northeast Asia and the Korean Peninsula is critical. And under current circumstances, relevant parties should proceed from the -- safeguarding the overall interests of peace and stability in the region, calmly and appropriately handle the issue, and avoid escalation of the situation. In the dialogues we further discussed the building of the positive, cooperative, and comprehensive relationship in the 21st century. We believe that it is a relationship of -- between cooperative partners, instead of between rivalries and enemies. It is the cooperation of peaceful coexistence, instead of being on guard against each other, or (inaudible) each other. It is a mutually beneficial win-win relationship, instead of one that is seeking one's own benefits at the expense of the others. It is a relationship equal -- equality, instead of yielding ­-- one side yielding to the other side. It is a relationship in which we exchange ideas frankly, trust each other, and have a reasonable and objective perspective of each other's strategic intentions, and respect each other's core interests and major concerns. And it is a relationship out of a strong sense of responsibility to the two peoples, and the people of the rest of the world. It is not a relationship of alignment, or targeted against any third party.
Finally, I would like to sincerely thank Vice-Premier Wang, Secretary Clinton, and Secretary Geithner. I would like to thank all the members of both teams, and thank all those who care about and support the China-U.S. strategic and economic dialogue. Thank you.
(Applause.)
MODERATOR: (Via translator) (Inaudible) Councilor Dai. And now I would like to (inaudible) Secretary (inaudible).
SECRETARY CLINTON: Thank you very much. On behalf of all of the American delegation, I want to thank our generous hosts, Vice-Premier Wang and State Councilor Dai, for their excellent preparation and the extraordinary time that has been given to this dialogue, along with the Chinese team and the American team. This dialogue is the premier forum for one of the most important and complex relationships in the world. And the breadth and depth of our delegation continues to grow, because it reflects the agenda that we are working on together.
Earlier this year, our relationship faced uncertainty, and many questioned the direction we were heading. Now, in an earlier era, we might have experienced a lasting set-back. But this dialogue mechanism, and the habits of cooperation it has helped create, along with the confidence it has built, helped put us rapidly back on a positive track. This strategic and economic dialogue (inaudible), and it reflects the maturity, durability, and strength of our relationship. So, over the last days we discussed a wide range of the most complex bilateral, regional, and global challenges.
Now, as we have said many times, we do not agree on every issue. We don't agree even sometimes on the perception of the issue. But that is partly what this dialogue is about. It is a place where we can discuss everything, as State Councilor Dai said, from Taiwan to universal human rights. And in the course of doing so, we are developing that positive, cooperative, and comprehensive understanding that leads to the relationship for the 21st century that both President Obama and President Hu Jintao put into motion when they agreed to do this dialogue.
The success of the U.S.-China relationship will ultimately be measured by the results we deliver to our people. Do our dialogues and our collaborations produce changes that people see in their daily lives, and that contribute to global progress or not? That is both our challenge and our responsibility.
So, this round of the dialogue did not solve all of our shared problems, but it did produce a number of concrete results, some of which you saw as Chinese and American officials came forward to sign memoranda of understanding.
One in particular is in our efforts to meet the challenges of climate change and clean energy. We signed an agreement that, for the first time, will allow American experts to work closely with Chinese colleagues to begin exploring China's vast natural gas potential. We believe that could well lead to new economic opportunities in both countries, and a lower carbon emission load for our planet. This is part of the broader drive for energy security and greater market transparency and efficiency, closer cooperation, and more focus on cleaner energy (inaudible).
Earlier today I was pleased to sign with State Councilor Liu (inaudible) U.S.-China consultation on people-to-people exchange. President Obama has announced a goal of sending 100,000 American students to China in the next 4 years to learn Mandarin, to experience Chinese culture, and to learn about the hospitality of the Chinese people, while they serve as ambassadors for the United States in China. And toward this end, I want to thank State Councilor Liu for her announcement of 10,000 scholarships for American students.
Our U.S.-China relationship must extend beyond the halls of government to our homes, our businesses, and our schools. And these exchanges really offer the opportunity for people to connect and collaborate, and they remind us of how much we have in common.
As part of this dialogue, we also had our most serious high-level discussion to date on development, which is a core pillar of our foreign policy, along with diplomacy and defense. And we had very frank and detailed conversations about international security challenges and regional hot spots, including Iran and North Korea. We stressed the importance of reaching a conclusion on resolution of the United Nations Security Council to send a message to Iran to, "Live up to your international responsibilities or face growing isolation and consequences."
Similarly, with respect to North Korea, the United States and China share the objective of peace and stability on the Korean Peninsula. Last year, we worked to pass and enforce a strong UN Security Council resolution in the wake of North Korea's nuclear test. Now we must work together again to address the serious challenge provoked by the sinking of the South Korean ship.
We are looking forward to working with our friends in South Korea. We appreciated the very statesmanlike approach that President Lee is following, and the prudent measures that he announced in his speech. No one is more concerned about the peace and stability in this region than the Chinese. We know this is a shared responsibility. And in the days ahead, we will work with the international community and our Chinese colleagues to fashion an effective and appropriate response. The consultations between China and the United States have started here in Beijing. They continue very closely, and we expect to be working together to resolve this matter.
China and the United States are two great nations with a compelling interest in global stability and security. We have different histories, and are at different stages in our development. But we recognize that we share a responsibility for meeting the challenges of our time, from combating climate change to curbing nuclear proliferation and rebalancing the global economy. This dialogue is a mechanism to exercise that collective leadership and meet our collective responsibilities.
So, there is much that we have worked on and that we are accomplishing that can only happen when people come together and meet as we have. Yesterday, President Hu Jintao said in his opening remarks, "Not even the most sophisticated telecommunication technology can replace face-to-face exchanges." Well, he is absolutely right. So I am very pleased that we had face-to-face exchanges, and we developed greater understanding and deepened our relationship. And we look forward to hosting you, Vice Premier Wang and State Councilor Dai, next year in Washington for the third round of the strategic and economic dialogue.
(Applause.)
MODERATOR: (Inaudible.)
SECRETARY GEITHNER: (Inaudible) offer my appreciation to Vice-Premier Wang and State Councilor Dai. (Inaudible.) I want to thank all of those who joined us from the administration here today, and to say what a pleasure (inaudible) together in China. (Inaudible.)
Our economic relationship is strong and will get stronger. It rests on recognition by Presidents Hu and Obama (inaudible) and shared responsibilities. Over the past year, we have acted together to help restore financial stability and economic growth to a (inaudible). And because we stood together, and because our presidents (inaudible) act quickly and decisively, (inaudible) in a much stronger condition (inaudible) to successfully overcome the challenges still ahead.
When people write the history of this economic crisis, they will point to the decisive role played by international cooperation, in stark contrast with much of the pattern in past crises, where division (inaudible) and nations turn (inaudible). And in writing that story, the story will point to the critical role played by the United States and China, and the remarkable story of two nations, with such different traditions and such different stages of development, coming together with common objectives (inaudible) action.
Last July, when we met in Washington, China and the United States (inaudible) economic growth. The G20 embraced that cause, and recognized it as a global (inaudible). And since that time, China and the United States (inaudible). Americans are (inaudible) investing more, and borrowing less from the rest of the world, and China is consuming and importing more.
We work together, China the United States, (inaudible) substantial increase in financial resources for emerging markets and developing economies through the IMF and the multilateral development banks, and to restore trade (inaudible). And these commitments, these actions, were essential to arresting the freefall in global economic activity and averting much greater damage to the livelihoods of hundreds and millions of people around the world.
And, quietly but surely, we -- China and the United States -- are building a very strong network of cooperative arrangements on a range of goals, from boosting access to trade financial facilities for small and medium-sized enterprises, (inaudible), helping each (inaudible).
This second meeting of the strategic and economic dialogue takes place against the backdrop of a promising (inaudible) pave the road to China and the United States and across (inaudible), tempered by a recognition of the challenges faced by countries in Europe in (inaudible), sustainable, and promoting more balanced economic growth.
We agree here to do (inaudible) to strengthen and reinforce this global economic recovery, and we agree to support the strong programs of policy reforms and financial support now being undertaken by the nations of Europe. We welcome the strong commitment of President Hu to the process of economic reform to expand domestic demand and increase household consumption, to expand market access and keep with established international, economic, and trade goals, and to advance trade and investment liberalization.
We welcome the fact that China's leaders have recognized that reform of the exchange rate mechanism is an important part of their broader economic reform agenda. Allowing the exchange rate to reflect market forces is important, not just to give China the flexibility necessary to sustain more balanced economic growth with low inflation, but also to reinforce (inaudible) resources more productive, higher value-added activity (inaudible).
Now, this is, of course, China's choice. And we welcome the progress we have achieved to provide a more level playing field for American firms exporting to China and operating in China. China has taken a series of steps to adjust and modify its programs designed to promote (inaudible) and technological advancement. China has revised certain aspects of this (inaudible), such as the requirement that products be (inaudible) or trademarked in China, eligible for certain (inaudible). China has a firm commitment to abide by the principles of non-discrimination, market competition, open trade, intellectual property rights protection, and leaving the terms of technology transfer and production (inaudible) to agreements between enterprises.
And we have agreed to a process of dialogues in the coming weeks and months, led by my colleague, Ambassador Kirk, Secretary Locke, and Office of Science and Technologies Director, John Holdren to find ways to address our main concerns.
We also welcome (inaudible) procurement by July of 2010, as well as a commitment to reduce barriers (inaudible) high-technology goods, high-end (inaudible), and energy saving products (inaudible) facilitate more (inaudible). With this progress, it does not (inaudible) all our concern, but it gives us a set of (inaudible). And I want to thank Vice-Premier Wang, in particular, for his personal role in advancing the practical solutions to our concerns.
The relationship between our two countries is strong and beneficial to both sides. American exports to China are growing much more rapidly (inaudible). Compared to the first quarter of 2009, (inaudible) by the crisis. Our exports to China have risen by almost 50 percent, roughly double (inaudible). And these developments demonstrate (inaudible) the strength and dynamism of the American economy. It demonstrates the importance and the (inaudible) process (inaudible) in China, (inaudible). It demonstrates that our strengths are complementary. They demonstrate that American companies are leaders in innovation in the goods and services that the world needs to grow.
We are seeing a (inaudible) rise in private investments in the United States, dramatic ongoing (inaudible) supported by a stronger financial system, a carefully designed and very substantial commitment by the U.S. Government to promote investment, innovation, and basic research.
We bring to the dialogue respect for China's interests, and a commitment to close cooperation on all the major global challenges of our time. And we bring a recognition of the special responsibility of the United States to contribute to the stability of the global financial (inaudible).
I want to conclude, again, by expressing my sincere appreciation to President Hu, Premier Wen, Vice-Premier Wang (inaudible), for their commitment to work to strengthen this relationship, and we look forward to continuing progress in the forthcoming G20 meetings. (Inaudible.) Thank you.
(Applause.)