CHINA / National

Hu: business co-op pillar for Sino-US ties
Updated: 2006-04-20 09:49

Visiting Chinese President Hu Jintao said on Wednesday that business cooperation has proved to be a pillar for the growth of Sino-US relations, vowing to promote bilateral business ties.

"Strong business ties meet the fundamental interests of our two countries and peoples and will continue to play an important role in boosting and stabilizing our relations," Hu said at a luncheon hosted by the Washington State, the Seattle business community and friendly local organizations.

He also expressed his hope to work together with the US side to enhance mutual trust, deepen cooperation and promote the growth of the constructive and cooperative China-U.S. relations in all fields.

In 2005, bilateral trade volume between the two countries jumped to 211.6 billion U.S. dollars, an increase of more than 80 times over that in 1979 when China and the United States established diplomatic relations.

"The fast growing bilateral business ties have delivered great benefits to our peoples," Hu said in the speech with the theme of "Deepen Mutually Beneficial Cooperation to Promote Common Development."

He said that by doing business with China, U.S. companies have made good profits, enhanced their global competitiveness and strengthened their positions in the US market.

At the same time, Hu also pointed out that it is "hardly avoidable" that some problems have occurred, given the rapid growth, sheer size and wide scope of business ties between the two sides.

"We should properly address these problems through consultation and dialogue on an equal footing as we work to expand our business ties," Hu said.

He stressed that mutually beneficial cooperation and common development remain "the defining feature of our business relations."

Hu arrived here on Tuesday for his first state visit to the United States, with Seattle being the first stop of his four-day stay in the country which ends on Friday.

The United States is the first leg of his five-nation tour, which will also take him to Saudi Arabia, Morocco, Nigeria and Kenya.