XIANGHE, China (Reuters) - The United States and China agreed they need to take steps to boost growth and keep their economies in balance, U.S. Treasury Secretary Henry Paulson said on Thursday.

"We also both recognize the need to fight economic nationalism and protectionism in our two nations," Paulson said in prepared remarks for a joint press conference with China's Vice-Premier Wu Yi after a two-day "strategic economic dialogue."

Paulson said the year-old dialogue had provided a sound foundation on which to extend cooperation to ensure that food and product safety measures were extended. The two countries agreed earlier on steps to ensure that Chinese-made toys and food items meet U.S. safety standards.

He said the two countries "agreed to conduct extensive co-operation over a 10-year period" on measures to increase energy efficiency and security, including the further adoption of clean technology.

(Reporting by Glenn Somerville, Eadie Chen and Zhou Xin, editing by Ken Wills)