Top business representatives and former senior officials from China and the United States are engaging in a dialogue on Tuesday and Wednesday to consolidate economic cooperation after the world's top two economies reached a consensus this month.

"A good Sino-US relationship benefits both sides and influences the world while providing scope for us to expand the benefits of globalization. Both sides should follow the consensus reached by our leaders ... and make more efforts to strengthen trust, deepen cooperation, expand benefits and control divergences," Premier Li Keqiang said in a meeting with US representatives at the Sixth Annual China-US CEO and Former Senior Officials' Dialogue.

"China is willing to be a participant and contributor to the new international economic and trade system, while expecting the US to create more favorable conditions for deepening Sino-US cooperation with a more open stance," Li said in Beijing.