China and the United States is set to hold their fifth Strategic and Economic Dialogue from July 10th to 11th in Washington, DC.

This high level talk between the two nations began back in 2009 and encompasses a wide range of strategic and economic issues. Chinese Vice Premier Wang Yang and State Councillor Yang Jiechi will co-chair the dialogue with US Treasury Secretary Jacob Lew and Secretary of State John Kerry.

China's Ministry of Foreign Affairs says three key issues will top the agenda including expanding China-US trade, reforming the economic structure of both sides and seek further cooperation in the financial markets. They will also discuss the timing and pace of when the US will begin to scale back QE. China's Ambassador to the US, Cui Tiankai says about 20 delegates from each side will take part in the dialogue. Ambassador Cui met with various media agencies over the weekend.

Cui said, "China hopes to realize the mutual agreements reached by the two countries' top leaders through this round of dialogue. Rather than going against each other, we hope to deepen the mural trust and cooperation between our two nations through creative thinking and concrete actions. We hope to promote a healthy long term China-US relationship."