(According to Xinhua News Online) China and the United States on Thursday morning kicked off their first strategic economic dialogue, the latest sign of bilateral efforts to boost their long-term relationship.

Chinese Vice Premier Wu Yi and the U.S. Treasury Secretary Henry Paulson co-chaired the dialogue as special representatives of President Hu Jintao and President George W. Bush.

"It is conducive to enhancing trust and dispelling suspicion to strengthen the dialogue between China and the United States in the economic field," Wu said at the beginning of the meeting. She said the dialogue will focus on the discussion of global, strategic and long-term macro-economic issues of common concern. In her key-note speech entitled "China's Development Road" Thursday morning, Wu said, "I hope the dialogue will enable you to have a relatively comprehensive and systemic perspective of China, a better knowledge of our country, thus enhancing our mutual understanding and trust." Her speech elaborated on China's adherence to peaceful development, industrialization, reform and opening up.

The two-day dialogue will be divided into several sessions of China's development path, balanced development between urban and rural areas, sustainable development, trade, investment, energy and environment issues. The meetings are the first under a twice-a-year strategic economic dialogue mechanism, which was launched in the Chinese capital in September.

Wu and Paulson held a 15-minute closed-door session before they officially started the dialogue.

The Chinese delegation to the dialogue include more than 10 ministers of finance, development and reform, science, labor, railways, communications, health, environment, central bank and Chinese ambassador to the United States.

Among Paulson's delegation are U.S. cabinet secretaries of commerce, labor, energy and health and human services. The high-profile delegation also include Ben Bernanke, chairman of the U.S. Federal Reserve Bank, who is paying his first visit to China. The U.S. Trade Representative Susan Schwab also took part in the meetings.

President Hu and Premier Wen Jiabao will meet with the U.S. delegation Friday afternoon. The dialogue is the highest-level one among the existing China-U.S. dialogue and consultation mechanisms.