"President Hu and Premier Wen will squeeze time from their tight schedules to meet you, which fully demonstrates the importance the new Chinese government attaches to mutually beneficial and constructive China-US relations," Wang said.

Wang, the former mayor of Beijing, was recently appointed one of four vice premiers at the National People's Congress, China's top legislature.

He is expected to replace his predecessor Wu Yi to take charge of financial affairs, including the China-US SED.

Paulson, who arrived in Beijing earlier Wednesday morning for a two-day visit, is scheduled to meet President Hu, Premier Wen Jiabao and other senior officials.

Prior to his visit, Paulson told reporters he intended to visit China because of the change of leadership after China's 11th People's Congress and to meet with counterparts, new leaders, president and premier to talk about the SED.

China and the United States had agreed to hold their fourth round of the SED in Washington in June this year. Wang and Paulson are expected to jointly preside over the dialogue.

Launched in September 2006, the biannual economic strategic dialogue between Beijing and Washington serves as a platform to discuss long-term, strategic and comprehensive issues in the bilateral trade relationship.

Chinese President Hu Jintao's Special Representative and Vice Premier Wang Qishan (R2) holds talks with Henry M. Paulson (L1), special representative of US President George W. Bush and the US Treasury Secretary, in Beijing, China, April 2, 2008. (Xinhua Photo) 

(Xinhua News Agency April 2, 2008)