Chinese President Hu Jintao said in Bangkok Sunday that China's new generation of leadership attaches great importance to relations with Canada and stands ready to work with Ottawa to push such ties to a new level.

At a meeting here with Canadian Prime Minister Jean Chretien, Hu said that since the start of the new century, the two countries have witnessed closer political ties, wider economic and trade cooperation and strengthened consultations and coordination in international and regional affairs.

Both Hu and Chretien are in Bangkok to attend the 11th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting, which is scheduled for Monday and Tuesday.

Hu noted that the decision made by former Chinese President Jiang Zemin and Chretien in 1997 on setting up a comprehensive cooperative partnership oriented toward the 21st century has established the direction for the development of bilateral ties.

Chretien, who is scheduled to visit China for the fifth time after the 11th APEC informal leadership meeting, said he is looking forward to further strengthening Canada's cooperation with China in various fields through the trip.

The two leaders also exchanged views on ways to enhance trade and economic ties.

Hu said that China's trade with Canada, at nearly US$8 billion last year, is expected to break the mark of US$10 billion this year.

China is ready to work with Canada to find new ways and new areas of cooperation so as to achieve a relatively balanced trade, he added.

Hu also briefed Chretien on the situation surrounding the exchange rate of China's currency, the Renminbi yuan. He emphasized that the Chinese government would continue to adopt a responsible approach in handling the issue.

China will maintain the basic stability of the RMB exchange rate at a reasonable and balanced level while further improving the rate-forming mechanism amid deeper financial reform, Hu added.

(Xinhua News Agency October 20, 2003)