China and the United States are preparing to exchange presidential visits within the year, Foreign Ministry announced on Friday night.

According to the ministry, Foreign Minister Li Zhaoxing discussed the issue with US Secretary of State Condoleezza Rice by phone on Friday night.

"They agreed to make good preparations for the two heads of state to visit each other within the year," the release said, adding that "efforts will be made to make sure the visits are successful."

The two also discussed other issues of common concern, the release said.

Also in Beijing on Friday, Vice-Premier Wu Yi told US Ambassador to China Clark Randt that China hopes the trade disputes between the two countries can be solved through consultation.

Wu said China has always believed that the economic and trade problems should be handled from a strategic perspective and "properly solved through consultation with the principle of equality, mutual-benefit and development."

"We also should avoid mixing economic and trade problems with politics," she told Randt.

The Vice-Premier said China-US economic and trade cooperation are reciprocal and has brought concrete interests for the two peoples. "It has also greatly propelled the development of China-US relations."

She said China and the United States are faced with "great opportunities" to improve and develop bilateral ties. She said she hoped the two countries will implement the consensus reached by the leaders and further promote the bilateral constructive cooperative ties.

Statistics from China's Ministry of Commerce showed that the trade volume between China and the United States has grown from 2.5 billion US dollars 26 years ago to 169.6 billion US dollars in 2004.

Randt said economic and trade cooperation with China is important to the United States and is in the interest of both countries.

He said the United States wants to maintain communication and dialogue with China.

In another development, the US government has decided to re-impose quotas on three types of clothing imports from China, Commerce Secretary Carlos Gutierrez announced Friday.

The decision made by the Committee for the Implementation of Textile Agreements means that the amount of cotton trousers, cotton knit shirts and underwear that China can export to the United States will be limited to increase by just 7.5 percent this year, compared to shipments over a 12-month base period.

A government investigation had found that a surge in shipments from China since global quotas were eliminated on Jan. 1, 2005 was disrupting the domestic market, Gutierrez said in a statement.

(China Daily, Xinhua News Agency May 14, 2005)