The United States and China held thefifth Strategic Economic Dialogue(SED) in Beijing on December 4 and5,2008.As the special representa-tivcs,Treasury Secretary Henry M Paulson,Jr.and Vice Premier Wang Qishan servedas co-chairmen of the SED.In two days,thetwo sides discussed strategies for managingmacro-economic risks and promoting bal-anced growth,on open investment and tradepolicies,including strengthening products,food and drug safety,on respected roles ininternational institutions and to strengthencooperation in energy and the environment.And 40 agreements were signed includingspccific breakthroughs in critical sectors likeenvironment,finance,on top of nearly 150previous agreements over the past two years,making a strong finish to all talks,and at theend thc dialogue sent strong signals to future.