Trade, maritime disputes weigh on Sino-US relations at dialogue

Beijing

CHINA must reduce overcapacity and grant better market access for American firms, said US Treasury Secretary Jacob Lew in Beijing for the annual two-day Strategic and Economic Dialogue, which ended on Tuesday with no major breakthrough on the many issues weighing on the bilateral relationship.

The United States also urged for a more flexible exchange rate, faster implementation of reform as well as a peaceful resolution of the South China Sea dispute, while Beijing stood firm on its geopolitical positions in the region and said that it would refuse any international arbitration over the issue.