FACTBOX: Agreements at China-U.S. strategic economic talks

WASHINGTON (Reuters) - The United States and China wrapped up two days of talks on Wednesday under a so-called "strategic economic dialogue" set up two years ago to ease tensions over trade and economic issues.

They reported the following results.

INVESTMENT TREATY NEGOTIATIONS:

* The two countries will begin to negotiate a bilateral investment treaty that promises to open and provide for transparent investment flows into each country.

* The United States said it will press for free capital transfers and full legal protections for investors.

* Several rounds of negotiations will take place before the next SED meeting, but timeline depends on "quality" of the agreement.

ENERGY, ENVIRONMENT COOPERATION:

* The countries signed a 10-year "framework" agreement that builds on a pact announced in December by identifying five goals -- clean and efficient electric power, clean water, clean air, clean and efficient transportation, and conservation of forests and wetlands.

* The framework agreement includes cooperation on alternative fuels, including next-generation cellulosic biofuels and alternative power generation sources, as well as clean coal technology.

* The countries said discussions on eliminating trade barriers for environmental goods and services are now focused on specific products and methods of tariff reduction.

TRANSPORTATION FORUM:

* The countries agreed to create a forum to discuss infrastructure needs across all modes of transportation and work to enable a free flow trade related to the transport sector.

* The United States said this will help create opportunities for American companies to help design, construct and equip China's new roads, railways, ports and airports.

MACROECONOMIC COOPERATION:

* The United States agreed to assess the progress of American financial services firms and regulators to implement new procedures and to strengthen operations. Based on this assessment, Washington will consider whether further steps are needed.

* China will complete by year-end an assessment of foreign participation in its securities, futures and fund management firms and make policy recommendations on adjusting foreign equity participation in its securities market.