China and Japan agreed to convene their second high-level economic dialogue by the end of 2008, according to a press communique released in Beijing on Monday.

The first China-Japan high-level economic dialogue was held in Beijing on Saturday, co-chaired by Chinese Vice Premier Zeng Peiyan and Japanese Foreign Minister Masahiko Komura.

According to a bilateral communique, they had "frank" discussion of issues concerning macro-economic policies, trade and investment, climate change, environmental protection and multilateral and regional economic cooperation.

Considering the interdependence of the Chinese and Japanese economies as well as their increasing importance in the Asian and world economies, both sides vowed to take the opportunity of the dialogue to further promote Sino-Japan economic ties and make a greater contribution to the sustained development of the world economy, the communique said.

In the dialogue, the two sides reaffirmed "mutual-beneficial" bilateral economic ties, the communique said. China spoke highly of the funds that the Japanese government offered to China, and appreciated the positive role of China-Japan non-governmental economic exchanges in facilitating China's economic development.

Japan believed China's economic development had contributed to Japan's economic development, the communique said.

Both sides expressed appreciation for the role of high-level economic dialogue in building bilateral, strategic, mutually beneficial ties. And they agreed to convene the second dialogue by the end of 2008, the communique said.

The China-Japan high-level economic dialogue mechanism was jointly launched by Chinese Premier Wen Jiabao and then Prime Minister Shinzo Abe of Japan during Wen's Japan trip in April.