On Nov. 11, 2010, President Hu Jintao met with U.S. President Barack Obama in Seoul, the Republic of Korea. The two heads of state exchanged views on Sino-US relations as well as major regional and international issues of common interest. They considered the Sino-US relationship important for the two countries and the world and agreed to jointly promote the further development of such relationship.

Hu pointed out with the concerted efforts of both sides, Sino-US relations have been developing steadily. The two sides maintained close exchanges and consultations at all levels. The exchange and cooperation continues to deepen in all fronts including economy, trade, energy, environment, culture, counter-terrorism, and law enforcement. The two sides maintained communication and coordination on major regional and international issues. Mankind is about to enter the second decade of the 21st century. As the international situation is undergoing profound and complex changes, the two countries are faced with major tasks: how to promote the comprehensive relations of active cooperation at a higher level and how to conduct cooperation in the areas of common interest. This not only relates to the future of China and the U.S., but also has a far-reaching impact on the future of the world. China is ready to work together with the U.S. side to strengthen dialogue, exchanges, and cooperation, respect each other's core interests, and push forward the continuous, healthy and stable growth of Sino-U.S. relations.

Obama said that he was pleased to have the seventh meeting with Hu. In recent years, the United States and China have made joint efforts to promote bilateral relations and pragmatic cooperation in various fields. The two sides had strategic and economic dialogue to have consultations on bilateral relations and international and regional issues on in a more extensive and intensive manner. The bilateral relations have maintained a strong and solid development momentum. The U.S. is willing to strengthen cooperation with China to push the strong, sustainable, balanced growth of the world economy. The U.S. looks forward to continued dialogue and consultations between the two countries and promoting further development of bilateral relations.

Hu said China expects the United States to pursue an active and constructive policy toward China and be committed to the stability and development of Sino-U.S. relations. Against the changing international and regional situation, China and the U.S. should trust each other and join hands to cope with increasing global challenges for the greater benefit of the people of the two countries. For The next stage, the development of Sino-U.S. relations will face new opportunities. Hu hoped that both sides seize the opportunity to further promote exchanges and cooperation in various fields and keep the momentum of positive development of bilateral relations.

Hu pointed out that Sino-U.S. economic and trade relations saw new development. The trade has basically recovered to the same level before the international financial crisis. The U.S. exports to China continue to grow in a pace significantly faster than its exports to its major trading partners. China has put forward suggestions on how to carry out greater cooperation in fiscal, monetary, trade and economic areas. Hu hoped that the two sides work together to make sound preparations.

Obama said to achieve sustainable global economic recovery is the most important objective of its international economic policy. He hoped that both sides work together to advance their own domestic economic restructuring. The U.S. is committed to strengthening bilateral economic and trade cooperation for mutual benefit and win-win outcome.

Hu said China will continue to engage in constructive communication with the United States on economic and trade issues so as to seek proper solutions to the differences between the two countries. The decision of this June on further pushing forward the reform on the RMB exchange rate formation mechanism was made in a complex economic and employment situation. It was a hard decision for China. However, China is firmly determined to advance such reform, which requires a good external environment. Such reform can only be gradual progress. Hu hoped the United States could take concrete action to relax export restrictions on high-tech products to China and create a level-playing field for Chinese companies to invest in the United States. He also hoped that the two sides work together to promote healthy and stable development of bilateral economic and trade relations. China was concerned about the quantitative easing policy of the United States. The U.S. policies should take into account the interests of emerging markets and developing countries.

Obama said President Hu Jintao will pay a state visit to the United States next year and ensuring the success of the visit is a top priority in the U.S.-China relations and the foreign policy of the United States.

Hu said the two sides should create good atmospheres and favorable conditions and make concerted efforts to ensure the success of the visit so as to convey the message to the people of the two countries and to the international community that the two sides are committed to strengthening the Sino-U.S. friendship and cooperation and playing constructive and responsible roles in the world.

The two sides also exchanged views on the situation on the Korean Peninsula, the Iranian nuclear issue and other topics of mutual interest.

Present at the meeting are Wang Qishan, Ling Jihua, Wang Huning, Dai Bingguo and other officials.