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WASHINGTON, June 5 (Xinhua) -- Senior Chinese and U.S. officials will gather on Monday in Beijing to kick off the eighth Strategic and Economic Dialogue (S&ED), the last for the Obama administration, to discuss a wide range of economic issues from macroeconomic policy, investment treaty to industrial overcapacity and trade disputes.

China and the United States are striving to build a "new type of major power relationship" in accordance with the consensus reached by their leaders, Chinese Vice Premier Liu Yandong told the joint opening ceremony of the eighth China-U.S. Strategic and Economic Dialogue (S&ED) and the seventh China-U.S. High-Level Consultation on People-to-People Exchange (CPE) in Beijing.

Zhao pointed out that as the country's economy enters a new normal, it needs to shift its focus from scale and speed toward quality and efficiency, which is just what the supply-side reform is calling for.

The leaders of the two countries also toured the workshops of the steel mill. Xi went to the dining room to interact with workers of the plant, encouraging them to work hard to bring benefits to local residents.

These state firms should enhance their competitiveness and efficiency through market-oriented reforms and reduce excess and backward production capacity to advance supply-side structural reform, Li said.