During Hu's ongoing state visit, the two countries 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.

He added that he and Obama also 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."

Commenting on the relations between the countries's armed forces, Hu said, "We believe expansion of military exchanges and cooperation will be conducive to deepening mutual trust between our two countries."

On the situation on the Korean Peninsula, he said that 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, and appreciated Obama's commitment to a positive and constructive China policy.

"China is a friend and partner of all countries, and China's development is an opportunity for the world," he said.

For his part, Obama said that his country welcomes China's rise and that cooperation between the two countries is good for the two sides and for the whole world.

"Along with our G20 partners, we've moved from the brink of catastrophe to the beginning of global economic recovery," he said, referring to the latest international financial crisis.

Noting that China is one of the top markets for U.S. exports, Obama said that annual U.S. exports to China in goods and services support "more than half a million American jobs."

He also lauded China's extraordinary economic growth that "has lifted hundreds of millions of people out of poverty," and expressed satisfaction with the dozens of deals between the two sides that will increase U.S. exports "by more than 45 billion U.S. dollars."

The U.S. president also reaffirmed his country's commitment to the one-China policy.