President Hu Jintao said the world economy, although on the path to recovery, still faces instability and uncertainty, as he met on Sunday with his Mexican counterpart Felipe Calderon, host of the two-day G20 summit.

China hopes the G20 members will stick together in difficult times and pursue mutually beneficial cooperation, and will be committed to ensuring growth, stability and employment, injecting new impetus into the group, said Hu at the meeting in the Mexican resort of Los Cabos.

President Hu Jintao shakes hands with his Mexican counterpart Felipe Calderon during their meeting in Los Cabos on Sunday. Hu is in the Mexican resort to attend the two-day G20 summit, which kicks off on June 18, 2012. [Xinhua]

"China is ready to work with Mexico to push for active results from the summit," Hu said.

Calderon said Mexico attaches importance to the role that China plays in the G20, and he hopes to strengthen cooperation with China to ensure progress is made at the summit, and jointly preserve the interests of the emerging economies and developing countries.

At the G20 summit on Monday and Tuesday, the G20 leaders will discuss the world economic situation, strengthening the financial system, development and trade issues.

At the seventh G20 summit, Hu is expected to expand on China's stance regarding key issues.

Hu has participated in the previous six meetings.

At his meeting with Calderon, Hu said that China and Mexico can tap the potential in mutual investment and improve cooperation in tourism, agriculture and science, while strengthening coordination on key world issues to preserve the common interests of the developing countries.

Calderon said China has played an important role in world peace and stability, and Mexico is ready to improve cooperation and coordination with China on world affairs.

This year marks the 40th anniversary of the establishment of diplomatic ties between China and Mexico. The countries have maintained close exchanges since they forged diplomatic ties in 1972, and particularly since they established a strategic partnership in 2003.

China is a major trading partner of Mexico. Bilateral trade volume reached $33 billion in 2011, an increase of 34 percent over the previous year.

The two countries have also maintained favorable communication and coordination on international and regional affairs.

Hu also met with Ethiopian Prime Minister Meles Zenawi on Sunday to strengthen bilateral and Sino-African ties. Mexico invited Ethiopia and some other non-G20 members to the meeting.

Hu was expected to meet leaders from Germany, France and the United States during the next two days on the sidelines of the summit.

Since heads of states and governments of G20 members met for the first time in Washington in 2008 to work out an action plan to prevent the global economy from collapsing, leaders of the G20 members have met five other times.

Hu said during his meeting with Meles that the G20 should take note of the unbalanced development of the North and the South, and recognize the contribution made by developing countries to the world economy and their reasonable demands.

Meles said China is an important partner for Africa and African countries hope to share and learn from the development experience of China.

Africa welcomes more investment from China, and is prepared to strengthen cooperation in manufacturing and infrastructure construction, said Meles.

He also said Ethiopia and Africa are ready to increase cooperation with China on issues including global economic development and climate change to maintain the common interests of developing countries.