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29. The two sides further acknowledged the deep and robust nature of the commercial relationship, including the contracts concluded at this visit, and welcomed the mutual economic benefits resulting from the relationship.

30. The two sides agreed to continue working to make concrete progress on the bilateral economic relationship through the upcoming S&ED and the JCCT process.

31. China and the United States recognized the potential for their firms to play a positive role in the infrastructure development in each country and agreed to strengthen cooperation in this area.

32. The two countries committed to deepen bilateral and multilateral cooperation on financial sector investment and regulation, and support open environments for investment in financial services and cross-border portfolio investment, consistent with prudential and national security requirements. The United States is committed to ensuring that the GSEs have sufficient capital and the ability to meet their financial obligations.

33. China and the United States agree that currencies in the SDR basket should only be those that are heavily used in international trade and financial transactions. In that regard, the United States supports China's efforts over time to promote inclusion of the RMB in the SDR basket.

34. The two countries pledged to work together to strengthen the global financial system and reform the international financial architecture. The two sides will continue their strong cooperation to strengthen the legitimacy and improve the effectiveness of the International Monetary Fund and Multilateral Development Banks (MDBs). The two sides will jointly promote efforts of the international community to assist developing countries, in particular the Least Developed Countries to achieve the Millennium Development Goals (MDGs). The two sides will also, in partnership with the Multilateral Development Banks, explore cooperation that supports global poverty reduction and development, and regional integration including in Africa, to contribute to inclusive and sustainable economic growth.

35. The two countries reiterated their support for the G-20 Framework for Strong, Sustainable and Balanced Growth and reaffirmed their commitments made in the Seoul Summit Declaration, including using the full range of policies to strengthen the global recovery and to reduce excessive imbalances and maintain current account imbalances at sustainable levels. The two sides support a bigger role for the G-20 in international economic and financial affairs, and pledged to strengthen communication and coordination to follow through on the commitments of the G-20 summits and push for positive outcomes at the Cannes Summit.

Cooperating on Climate Change, Energy and the Environment

36. The two sides view climate change and energy security as two of the greatest challenges of our time. China and the United States agreed to continue their close consultations on action to address climate change, coordinate to achieve energy security for our peoples and the world, build on existing clean energy cooperation, ensure open markets, promote mutually beneficial investment in climate friendly energy, encourage clean energy, and facilitate advanced clean energy technology development.

37. Both sides applauded the progress made in clean energy and energy security since the launch of the China-U.S. Clean Energy Research Center, Renewable Energy Partnership, China-U.S. Joint Statement on Energy Security Cooperation, and Energy Cooperation Program (ECP). Both sides reaffirmed their ongoing exchanges on energy policy and cooperation on oil, natural gas (including shale gas), civilian nuclear energy, wind and solar energy, smart grid, advanced bio-fuels, clean coal, energy efficiency, electric vehicles and clean energy technology standards.

38. The two sides commended the progress made since the launch of the China-U.S. Ten Year Framework on Energy and Environment Cooperation (TYF) in 2008. They agreed to further strengthen practical cooperation under the TYF, carry out action plans in the priority areas of water, air, transportation, electricity, protected areas, wetlands, and energy efficiency, engage in policy dialogues, and implement the EcoPartnerships program. China and the United States were also pleased to announce two new EcoPartnerships. The two sides welcomed local governments, enterprises, and research institutes of the two countries to participate in the TYF, and jointly explore innovative models for China-U.S. energy and environment cooperation. The two sides welcomed the cooperation projects and activities which will be carried out in 2011 under the TYF.

39. The two sides welcomed the Cancun Agreements and believed that it is important that efforts to address climate change also advance economic and social development. Working together and with other countries, the two sides agreed to actively promote the comprehensive, effective, and sustained implementation of the United Nations Framework Convention on Climate Change, including the implementation of the Cancun agreements and support efforts to achieve positive outcomes at this year's conference in South Africa.

Expanding People-to-People Exchanges

40. China and the United States have long supported deeper and broader people-to-people ties as part of a larger effort to build a cooperative partnership based on mutual respect and mutual benefit. Both sides agreed to take concrete steps to enhance these people-to-people exchanges. Both sides noted with satisfaction the successful Expo 2010 in Shanghai, and the Chinese side complimented the United States on its USA Pavilion. The two sides announced the launch of a China-U.S. Governors Forum and decided to further support exchanges and cooperation at local levels in a variety of fields, including support for the expansion of the sister province and city relationships. China and the United States also agreed to take concrete steps to strengthen dialogue and exchanges between their young people, particularly through the 100,000 Strong Initiative. The United States warmly welcomes more Chinese students in American educational institutions, and will continue to facilitate visa issuance for them. The two sides agreed to discuss ways of expanding cultural interaction, including exploring a China-U.S. cultural year event and other activities. The two sides underscored their commitment to further promoting and facilitating increased tourism. China and the United States agreed that all these activities help deepen understanding, trust, and cooperation.

Conclusion

41. President Hu Jintao expressed his thanks to President Obama and the American people for their warm reception and hospitality during his visit. The two Presidents agreed that the visit has furthered China-U.S. relations, and both sides resolved to work together to build a cooperative partnership based on mutual respect and mutual benefit. The two Presidents shared a deep belief that a stronger China-U.S. relationship not only serves the fundamental interests of their respective peoples, but also benefits the entire Asia-Pacific region and the world.