President Obama met China's new Ambassador to the United States, Zhang Yesui. Press Secretary Robert Gibbs describes the event as follows:
the President stated his determination to further develop a positive relationship with China. He reaffirmed our one China policy and our support for the efforts made by Beijing and Taipei to reduce friction across the Taiwan Strait. The President also stressed the need for the United States and China to work together and with the international community on critical global issues including nonproliferation and pursuing sustained and balanced global growth."
In April 2009 President Obama and Chinese President Hu initiated the U.S.-China Strategic and Economic Dialogue (S&ED) in recognition that the cooperation between the countries is vital not only to the benefit of the two nations but also the health of the global economy.
In a statement on September 10, 2009, David Loevinger, Executive Secretary and Senior Coordinator for China Affairs - U.S. Department of Treasury, states that at the first meeting of S&ED on July 27 and 28, 2009 China and the United States agreed on a framework for cooperation on economic issues.
The S&ED has plans to meet annually, but throughout the year there will be multiple agencies cooperating to achieve its objectives. (Source: Livia Sappington, Worldnewsvine.com, Mar 30, 2010).