The fifth China-US Strategic Economic Dialogue (SED) that concluded yesterday in Beijing has significantly enhanced the fast-growing bilateral economic ties to the benefit of both peoples and the stability and prosperity of the world economy.

Its success justifies more efforts from both sides to build on the constructive and cooperative relations to develop an enduring economic partnership, which will definitely be crucial to raising China-US economic ties and even overall relations to a new high.

With a two-way trade that increased by more than 120 times over the past three decades, China and the United States have grown into the second-largest trading partner to each other. The sheer size of the two economies, the world largest developing one, and the richest one, make it all too obvious of the importance of sound China-US economic ties to the world economy which has been hit hard by the global financial crisis.