The major results of Chinese President Xi Jinping’s visit to the U.S. may be summarized as follows:

• Cyber-security: launching a twice-yearly ministerial level dialogue by the end of the year.
• Climate change: setting up a bilateral fund to help developing countries combat climate change.
• Military relations: expand the Memoranda of Understanding on Confidence Building measures to include air-to-air safety and crisis communications.
• Anti-corruption: enhancing cooperation on criminal investigations, repatriation of fugitives and asset recovery issues.
• Tourism: the U.S.-China Tourism year to be held in 2017.

U.S. President Barack Obama met his Chinese counterpart Xi Jinping at the White House on September 25, and the two leaders outlined their common vision for a global climate change agreement. Xi and his wife Peng Liyuan received a 21-gun salute and full ceremonial military honors, underlining the huge symbolic importance of the state visit. China is the only country to have had two state dinners during the Obama administration. Xi’s predecessor, Hu Jintao, was honored with a state dinner in January 2011 during his final trip to Washington as President.

China confirmed that it plans to launch in 2017 a national emission trading system covering power generation, steel, and cement. China will also set aside USD3.1 billion as a fund to help developing countries fight climate change. U.S. President Obama reiterated that the U.S. welcomes the rise of a China that is “stable, prosperous and peaceful.” Xi underlined the need to be “broad-minded” about the two countries’ differences, to have “mutual respect” and “meet each other halfway” in order to improve relations. China will make available CNY20 billion through a bilateral fund to help developing countries combat climate change. “The significant and new climate finance pledges made by China are a game changer. These are a drastic increase from China’s previous finance commitments,” said Li Shuo, Senior Climate Policy Analyst with Greenpeace East Asia. “With this deal, it’s clear that China is ready to lead on climate,” he added. President Xi Jinping also pledged not to further lower the value of the yuan against the U.S. dollar.

Visiting Seattle on the first leg of his trip, Xi pledged to work with the U.S. to fight cyber crime. Both countries’ leaders agreed not to conduct commercial cyber attacks against each other. Boeing announced in Seattle that it had won USD38 billion worth of orders and commitments for 300 planes from China and would set up an aircraft interior completion and painting center in Zhejiang province for Boeing 737 planes. Washington state exports more to China than any other U.S. state. The Paulson Institute, in partnership with the China Council for the Promotion of International Trade (CCPIT), co-hosted a U.S.-China Business Roundtable, attended by 30 business executives, including Tim Cook of Apple, Jeff Bezos of Amazon, and Warren Buffett of Berkshire Hathaway. CEOs from China included Jack Ma of Alibaba, and Robin Li of Baidu. In the official photo, Xi was flanked by IBM’s Ginni Rometty and Microsoft’s Satya Nadella. Governors from five U.S. states signed an agreement to cooperate with China on the use of clean-tech to combat climate change, and on nuclear energy and smarter electricity use. TerraPower, an energy company founded by Bill Gates, signed an agreement with China National Nuclear Corp (CNNC) on next-generation nuclear power plant technology.