On May 23, 2007, the second meeting of U.S.–China Strategic Economic Dialogue concluded in Washington. Chinese Vice Premier Wu Yi, special envoy of Chinese President Hu Jintao, and U.S. Treasury Secretary Henry Paulson, special envoy of U.S. President Bush, co-chaired the closing ceremony and summarized the outcome of the dialogue.

In her remarks, Wu said with the joint efforts from both sides, the second meeting of the strategic economic dialogue achieved great success. Both sides held in-depth discussions on such topics as service industry, energy and environment, balanced economic growth and innovation. They defined each other's concerns on financial services, non-financial serves, investment and transparency and thus deepened mutual trust. In the field of environmental protection and energy, both sides agreed that they have broad space for cooperation on emission reduction, efficiency enhancement, and clean energy and renewable energy development, which will inject new vitality into China-U.S. economic and trade relations. Both sides maintained that the effective macroeconomic policy plays an important role in promoting balanced economic growth of the two countries and they also agreed to boost innovation through policy exchanges and technological cooperation.

"China-U.S. economic and trade relationship is one of the most complicated in today's world," said Wu. In order to properly handle this relationship and advance the economic and trade cooperation between the two countries, both sides should show creativity, wisdom, courage and capability and conduct dialogue and exchanges in the principle of equal consultation and mutual benefits in a candid manner, she said. "The SED provided an excellent ground and opportunity for both sides to cooperate," she said. China is ready to make joint efforts with the U.S. to make full use of the SED as a platform and push for the economic and trade relations and constructive cooperative ties between the two countries, added Wu.

Paulson said since the first meeting of U.S.–China strategic economic dialogue, both sides have been discussing about their common economic interests based on mutual respect. "I have been impressed by the openness and positive spirit you brought to this meeting of the Strategic Economic Dialogue, " said Paulson. "We have tangible results for our efforts thus far", he said, adding "these results are like signposts on the long- term strategic road, building confidence and encouraging us to continue moving forward together. " Paulson emphasized that "getting our economic relationship right is vital not only to the two peoples, but to the world economy." He urged both sides to communicate frequently, iron out differences, and keep the economic relationship on an even keel, to produce mutual benefits and promote economic growth of the two countries and of the world as a whole.

Both sides agreed that the third meeting of U.S.-China Strategic Economic Dialogue would be held in Beijing in December this year.