Addressing an audience of some 400 celebrities and experts from all walks of life at a dinner hosted in Washington Wednesday by the National Committee on US-China Relations and other US friendship groups, Hu said that during their two summits in Shanghai and Beijing, President Jiang Zemin and President Bush reached important agreement on developing a constructive and cooperative relationship between China and the US.

"That reflected the strategic farsightedness of the two leaders and clearly indicated the direction in which Sino-US relations would move forward in the new century," he said, adding that the two sides should implement that important agreement in good faith and effectively promote a sound development of bilateral relations.

The Chinese vice-president highlighted four areas in which the two countries should strengthen their constructive and cooperative relationship.

He said the two sides should step up their high-level strategic dialogues as well as their exchanges at different levels and between various agencies.

"Such dialogues and exchanges are playing an irreplaceable role in enhancing mutual understanding and trust and developing constructive and cooperative bilateral relations," he stated.

Exchanges and cooperation in all fields should be intensified, Hu said, noting the Chinese and US economies are highly complementary, thus promising a huge cooperation potential in commerce, energy, environment, science, technology and other endeavors.

He stated the two sides should address their differences on the basis of mutual respect and seeking common ground while shelving differences, expressing the hope that the US side will strictly honor its commitments to the Chinese side and play a constructive role in China's peaceful reunification.

While expounding China's stand on such issues as anti-terrorism, non-proliferation of weapons of mass destruction and the situation on the Korean Peninsula, He also proposed that the two sides should increase dialogue and cooperation on major issues concerning world peace and security.

In his speech, Hu also briefed the audience on China's economic situation and its reform and opening-up policy.

(Xinhua News Agency May 3, 2002)