Beijing, Sep 20 (Xinhua) Chinese Vice Premier Wu Yi and US Secretary of Treasury Henry Paulson announced on Wednesday the establishment of a China-US economic strategic dialogue.

Wu and Paulson will co-chair the dialogue as the special representatives of Chinese President Hu Jintao and US President George Bush.

They said that the two nations should enhance the strategic dialogue in the economic field.

The dialogue between the two countries will also have positive influence on the global economic development and international security, they said.

The dialogue mechanism was established according to a consensus between the two presidents, said Wu.