Chinese president Hu Jintao at a joint press briefing with Russian President Dmitry Medvedev

Visiting Chinese President Hu Jintao said on Thursday that China and Russia have agreed to further advance their bilateral pragmatic cooperation in the fields of trade, culture and international affairs.

The agreement came as the two countries established a comprehensive strategic cooperative partnership based on equality, mutual trust, mutual support, common prosperity and friendship from generation to generation, according to Hu.

The Chinese president made the remarks at a joint press briefing with Russian President Dmitry Medvedev after they held talks Thursday afternoon.

The two sides issued Thursday a joint statement on international situation and major international issues, and also a joint statement on the 10th anniversary of the signing of the Treaty of China-Russia Good-Neighborliness, Friendship and Cooperation.

Hu described his talks with Medvedev as "frank, friendly and fruitful" , in which they exchanged views and reached important consensus on developing bilateral links and major regional and international issues of common concern.

Hu said both sides agreed to regard development of China-Russia relations as a priority direction of their foreign policies. He said the two sides will continue to abide by the spirit of the Treaty of China-Russia Good-neighborliness, Friendship and Cooperation.

They will always adhere to equality and mutual trust, mutual benefit, mutual respect and mutual support. Hu said the two sides will stick to friendship from generation to generation and continuously enhance political mutual trust.

He said the two sides will also improve the existing mechanism of cooperation and expand pragmatic cooperation in all areas.

Hu said he and Medvedev decided to give priority to strengthening pragmatic cooperation in a bid to realize the goal of increasing bilateral trade volume to 100 billion U.S. dollars by 2015. On this basis, Hu said the two countries will develop a plan to raise the figure to 200 billion U.S. dollars by 2020.

Noting that energy is a focal point of China-Russia pragmatic cooperation, Hu said the two sides will continue to push forward cooperation in this area according to the win-win principle of mutual benefit.

Hu said the two sides place great importance on stepping up cooperation in the areas of investment, local governments and high technology so as to achieve greater results in bilateral pragmatic cooperation.

The two sides will earnestly carry out the guidelines on China-Russia investment and local cooperation by increasing reciprocal investment, accelerating priority projects of local cooperation and promoting cooperation in the areas of high technology and innovation, according to Hu.

The heads of state decided to make a full use of the coordinative role of China-Russia committee of cultural cooperation in advancing educational, cultural, health, sports, media and tourist exchanges, Hu said.

He added that this will help deepen the friendship between the peoples of the two countries and reinforce social and public support for developing bilateral links.

The two presidents agreed that under the current international situation, China and Russia should continue to observe the guidelines and principles of the U.N. Charter and expand all-round strategic cooperation in international affairs, according to the Chinese president.

He said the two countries should strengthen coordination and cooperation within the multilateral mechanisms of the United Nations and the G20, push forward development of the cooperative mechanisms of the Shanghai Cooperation Organization (SCO), and BRICS (China, Brazil, Russia, India and South Africa) so as to maintain world peace, security, stability and promote multi-polarization and democratization of international relations.

In response to a question about future development of China-Russia relations, Hu said the two countries face a critical period of opportunities for national development and great expansion of bilateral links. He expressed the belief that under joint efforts of both countries, China-Russia relations will see even better development in the next decade.

During their talks, President Hu and President Medvedev spoke highly about the historic significance of the Treaty of China-Russia Good-Neighborliness, Friendship and Cooperation.

Hu said the two sides comprehensively review the rich achievements in bilateral relations since the signing of the treaty 10 years ago. The two countries have set a plan for the development of China-Russia relationship in the next decade.