China is committed to building a China-U.S. relationship based on mutual respect and mutual trust, said Chinese President Hu Jintao while meeting with U.S. Vice President Joe Biden on Friday in Beijing.

Chinese President Hu Jintao shakes hand with US Vice-President Joe Biden before their meeting at the Great Hall of the People in Beijing August 19, 2011.[Xinhua]

A good China-U.S. relationship is in the fundamental interests of both the Chinese and American people and is also a necessity for the world to achieve peace and development, Hu said.

Both sides should look beyond the differences and further the development of the bilateral ties that feature cooperation and partnership, Hu said.

He expressed readiness to work with the U.S. side to increase dialogues and consultations at all levels and expand friendly exchanges between the two peoples, so as to foster strategic mutual trust and to enrich the China-U.S. cooperative partnership.

The Chinese president also pledged firm support to deepening win-win bilateral economic cooperation.

The two nations need to pull together as the world economic recovery is clouded by mounting instabilities and uncertainties, and global economic growth faces grim challenges, Hu said.

The two countries should improve coordination of their macro-economic polices, and pursue their common goals of ensuring economic growth and stability, as well as deepen bilateral cooperation and those under multilateral frameworks such as the Group of 20 (G20).

Hu called on the two nations to boost market confidence in concerted efforts, and to revive the global economy.

Further, Hu said, "The Chinese side is firmly committed to advancing bilateral cooperation with the U.S. in international and regional affairs."

"We would like to increase our exchanges and coordination with the U.S. in matters concerning regional security and cooperation, as well as global issues through bilateral and multilateral frameworks, and to promote peaceful solution of regional hot issues through dialogue and negotiations," said Hu.

Hu also called on the two countries to properly handle significant and sensitive issues between them for the sake of bilateral ties, and to promote healthy and steady development of the China-U.S. cooperative partnership characterized by mutual respect and mutual benefits.

Biden reaffirmed the U.S. commitment to building a strong, enduring and positive U.S.-China relationship and to deepening cooperation in all sectors based on mutual respect to bring the bilateral ties to a new high.

Biden said that a strong, prosperous and successful China that plays a bigger role in global affairs is in the interests of the United States and the world at large.

The U.S. side understands China's concerns in issues of its core interests, said Biden, calling on the two sides to increase contacts so as to boost mutual understanding and mutual trust.

He urged the two nations to properly handle sensitive issues, boost people-to-people exchanges, economic cooperation, dialogue and consultations in regional and global affairs to rise to challenges facing the international community.

Biden said Hu's visit to the United States in January left a strong and positive impression on the people of the country.

Earlier on Friday, Chinese Premier Wen Jiabao met with Biden.

Biden arrived in Beijing Wednesday evening for a six-day official visit to China as a guest of Vice President Xi Jinping.

On Thursday, Xi hosted a welcome ceremony for Biden and then held talks with him. China's top legislator Wu Bangguo met with Biden Thursday afternoon.

Friday morning, Xi and Biden attended a U.S.-China business dialogue.

Biden is also scheduled to visit southwest China's Sichuan Province during his trip.

This is Biden's first visit to China after becoming U.S. vice president in 2009.