China not an economic threat to any country, says Vice Premier

China will never pose an economic threat to any country, nor does it have the ability to do so, Vice-Premier Wu Yi told visiting US Treasury Secretary Henry Paulson in Beijing on Tuesday.

New Delhi, Aug.1 : China will never pose an economic threat to any country, nor does it have the ability to do so, Vice-Premier Wu Yi told visiting US Treasury Secretary Henry Paulson in Beijing on Tuesday.

Following a 30-minute private meeting with Paulson, Wu told the US delegation that she was happy to see her counterpart in the strategic economic dialogue (SED) be able to tell the great difference between Beijing or Shanghai and backward areas like Qinghai Province.

Paulson visited the poor and remote Northwest China province on Monday, the first stop on his fourth visit to the country since taking up the post in July last year.

"I hope the Qinghai visit will enrich your future testimony to the US Congress," Wu said.

The US Treasury opposed a bill passed by the US Senate Finance Committee last week, which would give the US administration new tools to pressure China to float its currency in the open market.

Wu questioned how developed countries could view China as an economic threat when much of the country remains relatively poor.

She said China still has areas as underdeveloped as Qinghai and the very goal of its development is to feed and clothe the country's 1.3 billion people.

According to The China Daily, Wu and Paulson also exchanged views on the topics and arrangements for the third session of the SED, which will be held in Beijing in December.

Wu said the third round should continue to focus on overall, long-term and strategic economic issues to play a positive role in promoting China-US economic and trade relations and overall bilateral ties.

Paulson agreed to keep close contact with China in the run-up to the third session.

ANI