Full coverage: 8th China-U.S. S&ED & 7th CPE

Analysts believe talks on macroeconomic policy, the bilateral investment treaty and trade disputes will top this year's agenda.

The US is concerned about the RMB exchange rate and China' s growth. When the US Fed will hike rates is leading China's watch list. Talks on a bilateral investment treaty or BIT will be another top concern. Both sides have signaled willingness to finalize a deal before Obama leaves the office in January 2017.

The high-level dialogue also comes at a time when U.S. steel producers are increasingly resorting to trade remedy against China. Analysts hope this year's dialogue can help promote mutual trust and manage differences in settling disputes.