He also urged both sides to deepen cooperation in new energy and infrastructure construction.

Thirdly, Beijing and Washington should jointly meet challenges through global cooperation, Hu said.

Chinese President Hu Jintao and US President Barack Obama attend a joint news conference in the East Room at the White House in Washington, January 19, 2011. [Xinhua/Li Xueren]

Fourthly, China and the U.S. should further their friendship with the extensive involvement of both peoples, Hu said.

Meanwhile, Hu hoped that the two sides will smoothly launch the China-U.S. Governors' Forum, a new initiative aimed at promoting bilateral practical cooperation at the local level.

Fifthly, the two sides should establish a high-level contact pattern featuring in-depth communication and candid dialogue, Hu said.

Both sides also should continue to be creative and conduct timely communication on bilateral relations and other major sensitive affairs and expand consensus, he added.

Obama, for his part, said Washington attaches great importance to its ties with Beijing, and is willing to further strengthen bilateral ties on the basis of mutual respect and mutual benefit.

The U.S. president said that he fully agreed to Hu's proposal and that his country is ready to work together with China to enhance high-level contact, deepen strategic mutual trust and boost cooperation in efforts to boost world economic growth, enhance the nonproliferation of weapons of mass destruction and address climate change and other issues.

Washington is also willing to make full use of the framework of the U.S.-China Strategic and Economic Dialogue to enhance mutual understanding and resolve differences through dialogues, he added.

In the 21st century, many multilateral issues need U.S.-China cooperation, Obama said, adding that the United States appreciates China's important role in dealing with climate change.

The United States welcomes China's rise, and China's peaceful development benefits the United States and the whole world, he added.

Obama reaffirmed that the United States will adhere to the one-China policy and abide by the three Sino-U.S. joint communiques. The Chinese president appreciated Obama's stance.