Chinese leaders on Wednesday met with visiting Italian President Giorgio Napolitano and discussed advancing bilateral relations. 

Wu Bangguo (R), chairman of the Standing Committee of China's National People's Congress, meets with Italian President Giorgio Napolitano in Beijing, capital of China, Oct. 27, 2010. [Ma Zhancheng/Xinhua]

Wu Bangguo, chairman of China's National People's Congress (NPC) Standing Committee, the country's top legislature, said China and Italy both faced severe challenges and new opportunities as the international situation was undergoing profound changes.

As the two countries shared a wide range of common interests, Wu said, it was in the fundamental interests of both peoples to develop China-Italy ties, which also worked for world peace and development.

As this year saw the 40th anniversary of bilateral diplomatic relations, the two countries should maintain exchanges and dialogues at all levels, take care of each other's major concerns and deepen political trust, Wu said.

Wu proposed all-round trade and economic cooperation, particularly in the fields of environment, science and technology, small and medium-sized businesses.

Wu called on the two countries to step up communication and coordination under the China-EU and Asia-Europe frameworks and the international organizations like the United Nations and Group 20 in a bid to build a fair and reasonable international political and economic system.

Napolitano, on his first visit to China as Italian head of state, said Italy appreciated China's remarkable economic and social development.

The 85-year-old underscored Italy's commitment to developing ties with China, saying Italy and Europe could not develop without building closer links with China.