Now that China's National People's Congress and a once-in-a-decade power transfer is complete, it's back to business. Xi Jinping, the head of the Communist Party met with US Treasury Secretary Jack Lew on Tuesday. It was Xi's first high-level meeting with a US official in six months.

[Xi Jinping, Chairman of Chinese Communist Party]
"In the China-US relationship, we have enormous shared interests, and of course unavoidably we have some differences."

Those differences have been highlighted in recent months. The new generation of communist leaders has categorically rejected any western-style political system. Instead, they will once again work to protect the control of the Communist Party.

US-China relations have also been marred by mutual distrust. A shift in US military outlook towards the Pacific has Beijing worried about encirclement. The US is concerned over aggressive Chinese military hackers who have targeted US government, business, and infrastructure. And as always, a fundamentally different outlook on human rights has kept China and the US locked in an impasse.

Still, both Xi and Lew tried to remain upbeat during their meeting.

[Jack Lew, US Treasury Secretary]
"As the world's two largest economies, the United States and China have a special responsibility to maintain strong, stable and sustained growth in the world. And we look forward to China contributing more and more to global demand."

Xi Jinping and Jack Lew's meeting comes just on the heels of a pledge by China's new Premier Li Keqiang to develop "a new type of relationship," with US President Barack Obama.

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