China welcomes the involvement of US enterprises in developing its industry of new, renewable and clean energy, Vice Premier Wang Yang said here Wednesday.

China is willing to introduce advanced US energy saving technologies and management experience in an effort to improve energy efficiency, he said at a joint session on energy security on the first day of the two-day China-US Strategic and Economic Dialogue (S&ED).

In the meantime, China hopes its investment in oil and gas projects in the United States receives a fair treatment, he said.

Wang said China is willing to play a constructive role, together with the United States, in increasing global oil reserve transparency as well as safeguarding stability of international energy supply and price.

In the joint session, Chinese State Councilor Yang Jiechi said strengthening cooperation on energy security between China and the United States not only has profound significance for both countries' economic development, but also has a positive impact on ensuring global energy supply stability and world economic recovery.

Yang said bilateral cooperation on energy security should stick to principles of mutual respect and mutual benefit, and that China 's reasonable demand for energy and concerns about energy security should be respected.

China and the United States have been holding the annual S&ED talks since 2009 when Barack Obama came to power, as a major channel of communication to enhance mutual trust, boost cooperation and properly handle differences.