Chinese President Hu Jintao (R) shakes hands with Myanmar President U Thein Sein during the welcome ceremony in Beijing, capital of China, May 27, 2011. [Xinhua]

China and Myanmar on Friday upgraded the relationship to strategic partnership and inked economic agreements, the latest sign of stronger ties between the two neighbors.

"Once again I congratulate you on becoming the first President of Myanmar," Chinese President Hu Jintao told his Myanmar counterpart U Thein Sein Friday afternoon.

Thein Sein arrived in Beijing Thursday for his first state visit since assuming presidency in March.

"This is my first talk with you since the new Myanmar government was installed. Hopefully your visit will cement mutual understanding and friendship," Hu said at the start of talks.

During their hour-long talks, the two leaders reviewed the growth of China-Myanmar ties since the two countries forged diplomatic relations in 1950.

Hu said China-Myanmar ties had held firm against the backdrop of changes in the international arena and enjoyed broad prospect for development.

Thein Sein said Myanmar was satisfied with the way the bilateral ties were developing, citing frequent high-level visits, smooth cooperation in politics and the economy as well as deeper friendship between the two peoples.

Chinese President Hu Jintao (L) and Myanmar President U Thein Sein inspect guard of honor during the welcome ceremony in Beijing, capital of China, May 27, 2011.[Xinhua]

Hu called on both sides to work out a program so economic cooperation between the countries could be better planned and coordinated.

Hu and Thein Sein agreed on working more closely in the areas of energy, transportation and agriculture.

They underscored their commitment to boosting bilateral relations, agreeing to establish a comprehensive strategic cooperative partnership.

Under the partnership, the two countries will maintain close high-level contacts, continue to build bilateral relations between the parliaments, government, judicial departments and political parties.

The two sides will work more closely to enhance the size and level of economic cooperation and trade.

In another meeting with Thein Sein earlier Friday, Premier Wen Jiabao said China would like to continue providing assistance to Myanmar's economic development.

China is Myanmar's largest investor with an investment totaling 12.32 billion U.S. dollars in 2010, according to Chinese government statistics.

Wen appealed for the smooth implementation of infrastructure projects, including oil and gas pipelines, hydroelectric power and transportation.

China-Myanmar trade soared by 53.2 percent to 4.44 billion U.S. dollars last year, according to Chinese statistics, making China Myanmar's second-largest trading partner behind Thailand.

At the end of the talks, Hu and Thein Sein witnessed the signing of a series of economic agreements.