·Paulson said the engagement with China through SED has helped yield many results.

·"Engagement has helped us manage the current financial market crisis," Paulson said.

·"we appreciate the responsible role China has played during the turmoil," he aslo said.

    WASHINGTON, Dec. 2 (Xinhua) -- U.S. Treasury Secretary Henry Paulson said Tuesday that the engagement with China through the Strategic Economic Dialogue (SED) has helped yield many results.

    "We have learned that engagement works, that engagement can help achieve meaningful, tangible results that would not have been possible otherwise," Paulson told a Washington forum ahead of the fifth SED in Beijing this week.

U.S. Treasury Secretary Henry Paulson speaks at a news conference at the Treasury Department in Washington, Nov. 25, 2008. Paulson said Tuesday that the engagement with China through the Strategic Economic Dialogue (SED) has helped yield many results. (Xinhua/Reuters Photo) Photo Gallery>>>

    "Engagement has helped us manage the current financial market crisis," Paulson said, noting the crisis is a global event, and governments around the world have engaged directly and responded with actions to restore stability and address market developments.

    "In this regard, we appreciate the responsible role China has played during the turmoil," he said. "We have welcomed China's active participation, along with other members of the G-20, in the Summit on Financial Markets and the World Economy, and in multilateral mechanisms for cooperation including the G-20, APEC, and the International Financial Institutions."

    He said that China will continue to play a key role in the world economy, and China's growth is an opportunity for U.S. companies and consumers, for U.S. producers, exporters and investors.

    "A stable, prosperous and peaceful China is in the best interest of the Chinese people, the American people and the rest of the world," said the Treasury chief.

    He stressed the SED "has improved the relationship between our two countries so that we can effectively manage complex issues, such as the recent global financial turmoil."

    "We have stood many tests so far, and I believe we can withstand many more if we continue to engage with China as it is, not as we would imagine it to be," he added.

FM spokesman: China hopes for successful economic dialogue with U.S.

    BEIJING, Dec. 2 (Xinhua) -- China on Tuesday voiced hope of success for the Strategic Economic Dialogue (SED) with the United States later this week, saying that both sides will make efforts for this goal.

    "The SED is an important mechanism initiated by state leaders of both countries to promote the healthy and stable development of Sino-U.S. economic relations. It is proven to promote in-depth discussions on some strategic, comprehensive issues," foreign Ministry spokesman Liu Jianchao told a regular press conference. Full story

U.S. diplomat: SED importance stressed in presidential transition 

    BEIJING, Dec. 2 (Xinhua) -- U.S. Assistant Secretary of State Daniel S. Sullivan said on Tuesday that the Obama team has already been briefed on the importance of the China-U.S. Strategic Economic Dialogue (SED).

    "The transition between the Bush administration and the Obama administration is very closely coordinated," he told reporters here at the U.S.-China Conference on Innovation and Commercialization.  Full story