The global economy, not just members of the Group of 20, could benefit from a comprehensive China-US cooperation, said an UN official on Wednesday.

"The greater cooperation between the two major economies will not only help the global economy recover from its downturn, but also to make contributions to bringing about a new round of global economic growth," Hong Pingfan, chief of global economic monitoring at the United Nations, told Xinhua in an interview.

Chinese President Hu Jintao and US President Barack Obama agreed on Wednesday to establish "China-US Strategic and Economic Dialogues" mechanism.

Meanwhile, the US government promised to cut its deficit after the current recession while China vowed to boost its domestic demand.

"The global economy is going through the severest financial storm since the Great Depression, the situation is still deteriorating. Right now, stabilizing the financial markets, boosting the economic growth is in the first-line for all the governments," said Hong.

"The new commitment, made by the two leaders during their meeting in London, could lead to the global economy to more balanced, sustainable future," he added.

(Xinhua News Agency April 2, 2009)