Obama touts business goals, new 10-year visas

US president reaches out on a range of issues, saying 'world will benefit' from cooperation

US President Barack Obama said on Monday that the United States intends to bolster trade and business ties with China and announced that the two countries will grant visas to each other's citizens valid for up to 10 years.

Speaking in Beijing at the CEO Summit of the Asia-Pacific Economic Cooperation, Obama said the United States hopes to welcome a growing share of eligible Chinese travelers, inject billions of dollars into the US economy and create enough demand to support hundreds of thousands of additional US jobs.