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"This is also in line with China's further integration with globalization and engagement in international competition," Zhang said.

The meeting clarified measures to reduce the value-added taxes, decided to extend some tax incentives that were due, and announced tax breaks to firms with expenditures on poverty alleviation and pollution control.

-- Italy had invested 7.21 billion dollars in 5,937 projects in China by the end of last June.

For his part, Paulson said the U.S.-China relationship is one of the most important ties in the world. He added that the Paulson Institute is willing to advance cooperation between the United States and China in areas such as trade and investment, environmental protection, clean energy, and green finance.

The Chinese delegation came to Washington for the latest round of talks with sincerity, and held candid and constructive exchanges with the U.S. side, Liu said, adding that the two sides agreed to continue to push forward the consultations.