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

Tuesday was the second and final day of the latest round of China US Strategic and Economic Dialogue. Political leaders in Beijing and Washington called for increased cooperation, understanding, and mutual exchange to overcome disputes between the world's two biggest economies.

They also discussed people-to-people exchanges, including culture, education and sports. On the issue of trade, they called on companies from both countries to seek cooperation so that all sides can benefit.

"Concerns about the business climate have grown in recent years with foreign business confronting a more complex regulatory environment and questioning how welcome they are. Our two governments have a responsibility to foster conditions that facilitate continued and increased investment, trade and commercial cooperation," said US Treasury Secretary Jack Lew.

"Under the conditions of a market economy, there will always be competition between Chinese and US companies. We hope that our countries' companies can cooperate as they compete, and seek win-win outcomes in that cooperation. That they can learn from each other, and use each other's strengths to make up for their own shortcomings. That they can establish long-term stable commercial, cooperative relationships together," said Chinese State Councillor Yang Jiechi.