WASHINGTON, June 30 (Xinhuanet) -- Chinese ambassador Zhou Wenzhong said here on Thursday that Sino-US relations are very important and the two countries have more common interests than differences.

    "What is more important is to handle the differences through consultations and dialogue," he said in a speech at a ceremony held on the Capitol Hill to mark the formation of the US-China Working Group under the House of Representatives of the US Congress.

    Zhou said some people in the United States are claiming that oil prices in the world market are getting higher and higher because of China's oil imports. But the fact is that China is the fifth largest oil producer in the world and its oil imports only account for about seven percent of total global oil trade.

    As to the bid for US Unocal Corp. by the China National Offshore Oil Corporation, Zhou stressed this is pure business and should not be politicized.

    Zhou welcomed the establishment of the US-China Working Group and expressed his hope that the group will help US congressmen know more about China and play a positive role in promoting Sino-US relations.

    Republican Congressman Mark Kirk and Democratic Congressman Rick Larsen, who jointly initiated the launching of the working group, said the bipartisan Congressional group of more than 20 Republicans and Democrats is aimed at promoting diplomatic and economic relations between the United States and China and increasing Congressional engagement in bilateral issues.

    Both Kirk and Larsen agreed that it is vital for Congress to enhance its working relationship with the Chinese.

    The US-China Working Group will host regular meetings to hear from key business, academic and political leaders about US-China issues ranging from trade and economic policy to space exploration. Enditem