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WASHINGTON, Jan. 19 (Xinhua) -- Chinese President Hu Jintao said here Wednesday that important consensus was reached during his talks with U.S. President Barack Obama."We had an in-depth exchange of views and reached important agreement on China-U.S. relations and major international and regional issues of shared interest," President Hu told a joint press conference with Obama following their meeting.The Chinese leader said both sides "agree to further push forward the positive, cooperative and comprehensive U.S.-China relationship and commit to work together to build a China-U.S. cooperative partnership based on mutual respect and mutual benefit so as to better benefit people in our own countries and the world over."Chinese President Hu Jintao and U.S. President Barack Obama attend a joint press conference at the White House in Washington, the United States, Jan. 19, 2011.Both sides also agreed to strengthen exchanges and cooperation in economy and trade, energy and environment, science and technology, infrastructure construction, culture and education, counter-terrorism, non-proliferation, law enforcement and other areas so as to achieve mutual benefit, according to the Chinese president.Saying his talks with Obama were conducted "under candid, pragmatic and constructive atmosphere," Hu said China appreciates Obama's commitment to a positive and constructive China policy, and to stable and growing China-U.S. relations since he took office two years ago.Hu noted that China and the United States share expanding common interests and shoulder increasing common responsibilities, and voiced support for expanding military exchanges between the two sides."We believe expansion of military exchanges and cooperation will be conducive to deepening mutual trust between our two countries," Hu said.While stressing that China-U.S. cooperation has great significance for the two countries and for the world, the Chinese leader said the two sides "should firmly adhere to the right direction of our relationship; respect each other's sovereignty, territorial integrity and development interests; promote the long-term sound and steady growth of China-U.S. relations and make even greater contributions to maintaining and promoting world peace and development."During President Hu's state visit, the two countries had signed a number of cooperation agreements. "These will inject fresh momentum into our bilateral cooperation and create a great many job opportunities for our two countries," Hu said.On the situation on the Korean Peninsula, he said both countries agreed to work together with relevant parties to maintain peace and stability on the peninsula, promote denuclearization of the peninsula and achieve lasting peace and security in Northeast Asia.The Chinese leader reaffirmed China's firm commitment to the path of peaceful development and a win-win strategy of opening up."China is a friend and partner of all countries, and China's development is an opportunity for the world," he said.Meanwhile, Hu said he and Obama discussed some disagreements in the economic and trade area, with both sides pledging "to continue to appropriately resolve these according to the principle of mutual respect and consultation on an equal footing."Addressing the same press conference, Obama said cooperation between the two countries is good for the two sides and for the whole world."Along with our G-20 partners, we've moved from the brink of catastrophe to the beginning of global economic recovery," he said.Noting China is one of the top markets for American exports, Obama said the annual U.S. exports to China in goods and services support "more than half a million American jobs."He praised China's extraordinary economic growth that "has lifted hundreds of millions of people out of poverty. "This is a tribute to the Chinese people," he added.The U.S. leader also expressed his satisfaction with the reaching of dozens of deals between the two sides that will increase U.S. exports "by more than 45 billion U.S. dollars."Hu, who unfurled his first state visit to the United States Tuesday since Obama took office in 2009, just concluded his eighth meeting with Obama before the press conference.Before the talks, a grand welcome ceremony for President Hu was held at the White House.Hu said at the ceremony that his visit is aimed at increasing mutual trust, enhancing friendship, deepening cooperation and pushing forward the positive, cooperative and comprehensive China-U.S. relationship for the 21st century.

BEIJING, Dec. 29 (Xinhua) -- China's gross domestic product (GDP) is predicted to grow by around 9.5 percent in 2011, 0.5 percentage points lower compared to the growth rate expected for this year, said a report issued Wednesday by the Bank of China (BOC).The report by the BOC, China's third largest lender, was based on the bank's projections of weak overseas demand, tighter monetary policy, and the government's planned economic restructuring for 2011, the first year of China's 12th five-year plan.The Chinese government announced in early December that it will switch its monetary policy stance from relatively loose to prudent next year to tackle rising inflation and keep economic growth at a sustainable pace.The report also said government policies this year to curb soaring property prices in some major cities, and the country's efforts to improve energy efficiency had slowed the economy with the GDP dropping to 9.6 percent in the third quarter, down from the second quarter's 10.3 percent and 11.9 percent in the first quarter.The report also forecast inflation to rise 4 percent in 2011, compared to the 3.3-percent rise expected for 2010. It said that in the second half of the year, the producer price index (PPI) for China's industrial products had kept rising along with the consumer price index (CPI), adding more inflationary pressure for the future.The Chinese government set a 3-percent target for inflation this year, but looks unachieveable after the index rose 3.2 percent during the first 11 months. Pushed up mainly by rising food prices, the index soared 5.1 percent in November to a 28-month high.The report also predicted new lending next year would be 7 trillion yuan (1.06 trillion U.S. dollars), just slightly down from the 7.5 trillion yuan target set by the government for 2010.Growth rates of retail sales of consumer goods and industrial value-added output would see a slight drop from year 2010, while imports would likely grow by 18 percent, 3 percentage points higher than exports.As inflation triggers wider public concerns, expectations for more hikes in interest rates are strengthening. The report forecast the People's Bank of China, the central bank, would likely hike rates for up to three times next year, mostly during the first half of the year.The central bank on Sunday raised the benchmark one-year lending and deposit rates by 25 basis points for the second time in just over two months. It had also set higher commercial lenders' reserve requirement ratio six times this year in a move to tighten liquidity amid climbing inflation.

WASHINGTON, Dec. 2 (Xinhua) -- China's rapid economic growth is good for the U.S. workers, and the U.S. government is committed to improving bilateral economic relations with China, said U.S. Commerce Secretary Gary Locke on Thursday."China has lifted almost 200 million people out of poverty (in the past two decades). And in the years ahead, hundreds of millions more Chinese will ascend into the middle class," Locke said at a U.S.-China commercial relations forum, which was held in Washington ahead of the U.S.-China Joint Commission on Commerce and Trade (JCCT) session scheduled for Dec. 14-15."The United States welcomes this growth because this is good for the people of China ... it's good for the global economy, and good for U.S. business and ultimately, U.S. workers," said Locke.He noted that as recently as 40 years ago, the commercial relationship between the United States and China barely existed. But in the recent decades, "we have seen our countries grow progressively closer."In 2009, the bilateral trade volume reached some 365 billion dollars. China was the largest supplier of U.S. goods imports in 2009 and was the third-largest market for U.S. exports, only after Canada and Mexico.Locke mentioned that as U.S. Commerce Secretary, he has visited China for four times."Each time I visit China, I'm absolutely amazed by the transformation and the progress within China," he said.Locke noted that although there are disagreements between the two sides, there are more opportunities for cooperation."In many areas, especially in emerging industries, like clean energy and biotechnology, the interests of China and the United States are tied together. And the reform as good for the U.S. will be good for China as well," he added.Locke also revealed that during the upcoming 21st session of the JCCT in Washington D.C., the two countries will seek to further "nurture and improve the most highly-scrutinized bilateral economic relationship on Earth.""This is our most important bilateral dialogue or mechanism for resolving trade and investment issues between our two countries," he stressed.The session will be co-chaired by Locke and U.S. Trade Representative Ron Kirk with Chinese Vice Premier Wang Qishan. U.S. Secretary of Agriculture Tom Vilsack will also join the dialogue.

MADRID, Jan. 5 (Xinhua) -- Vice Premier Li Keqiang's visit to Spain will vigorously boost the development of the comprehensive strategic partnership between China and Spain, and turn a new chapter of bilateral trade and economic cooperation, a Chinese official said here on Wednesday.Gao Hucheng, China's international trade representative and vice minister of commerce, told reporters in Madrid that Li's ongoing Europe tour is the first foreign trip by Chinese leaders in 2011 and the choice of Spain as the first leg demonstrates the importance that China has attached to its ties with Spain and its strong will to promote cooperation with Spain.Li arrived here Tuesday for a three-day official visit to Spain. He will later visit Germany and Britain in his three-nation Europe tour.Gao hailed the ever closer trade relations between China and Spain, their increasing two-way investments and new progress in their cooperation in major projects such as in the energy field.Gao said both sides have been deepening cooperation in some traditional areas like finance and telecommunication, and making new achievements in new energy and brand cooperation.During Li's visit to Spain, the two sides signed a series of agreements on economic and trade cooperation in the financial, petroleum and chemical, renewable energy, nuclear power equipment and food sectors, he said, adding that the deals are worth 7.5 billion U.S. dollars.Vice Premier Li, whose entourage included more than 80 entreprenurs, Wednesday delivered a speech at a breakfast attended by Chinese and Spanish entreprenurs.The address augmented the confidence of the two countries' enterprises in bilateral cooperation in coping with the global financial crisis, and the expansion of bilateral economic and trade cooperation, Gao said.As a long-term strategic partner of the European Union (EU), China supports the measures Spain and other EU countries have taken to stabilize its economy and financial markets, and it has confidence in Spain's and the EU's financial markets, he said.After the outbreak of the sovereign debt crisis in Europe, Gao said, China has kept buying national bonds of Spain and other EU nations, helping EU countries weather the crisis with concrete efforts.Gao expressed his belief that with concerted efforts by the EU and the international community, Spain and other EU nations will eventually tide over the crisis and achieve full economic recovery.

BEIJING, Dec. 12 (Xinhua) -- Chinese Premier Wen Jiabao will pay official visits to India and Pakistan from Dec. 15 to 19 at the invitation of Indian Prime Minister Manmohan Singh and Pakistani Prime Minister Yousuf Raza Gilani, Chinese Foreign Ministry spokesperson Jiang Yu announced Sunday.Wen will meet and exchange views with leaders of the two countries during the visits on bilateral relations and cooperation as well as international and regional issues of common concern, Jiang said.During his visit to India, Wen will attend activities marking the 60th anniversary of the China-India diplomatic ties with Prime Minister Singh, and meet with Indian people from all circles, Jiang said.In Pakistan, Wen will attend the China-Pakistan business summit and meet friends who have contributed to the friendship of the two countries."I believe Premier Wen's visits will help further China's relations with the two countries and promote regional peace, development and stability," said Jiang.