Chinese President Hu Jintao (R) meets with U.S. President Barack Obama in Toronto, Canada, June 26, 2010. [Xinhua/Li Xueren]

China is willing to work with the United States to carry on contacts, deepen cooperation, boost communication and coordination on important international and regional issues, said the Chinese president.

Obama said the United States is glad to see recent progress in bilateral relations and happy to see a successful and prosperous China.

The two countries have a great potential in bilateral cooperation, and the Strategic and Economic Dialogue has not only helped boost the bilateral relations, but also explore ways of facilitating sustainable development on both sides, Obama said.

Obama said the United States and China should work on the implementation of the decisions made at the Strategic and Economic Dialogue and boost cooperation to push for global economic balance and sustainable development and address climate change.