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At the dialogue, the Chinese and US officials are expected to have extensive and in-depth discussions on a wide range of topics, including balanced development between urban and rural areas, sustainable development, trade, investment, energy and environment issues.

In her key-note speech titled "China's Development Road" on 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.

"China's development will not pose any threat, but offer opportunities to the world," Wu said.

China's sustainable development and social stability are the biggest contribution to the world peace and stability, Wu said.

"Different from other China-US dialogue and consultation mechanisms, such as Joint Commission on Commerce and Trade, Joint Economic Committee and Joint Commission on Science and Technology, this dialogue doesn't target at any specific issue, but a package of issues strategic to bilateral trade relationship, " said Yan.

"The significance of the dialogue lies in enhancing mutual understanding and identifying long-term, strategic principles that the two countries share," said Mei Xinyu, a researcher from the Trade Research Institute of the Ministry of Commerce.

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.

The US delegation is the highest-profile trade mission the United States has ever sent to China, including cabinet secretaries of commerce, labor, energy and health and human services.

The delegation also include Ben Bernanke, chairman of the US Federal Reserve Bank, who is paying his first visit to China. The US Trade Representative Susan Schwab also took part in the meetings.

President Hu and Premier Wen Jiabao will meet with the US delegation Friday afternoon.

The dialogue is the highest-level among the existing China-US dialogue and consultation mechanisms.

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