China and the United States issued a joint statement in Beijing Tuesday, vowing to deepen counter-terrorism consultation and cooperation between the two countries on an equal and mutually beneficial basis.

The two sides promised they would boost joint efforts to combat transnational crime and criminal organizations as well as money laundering and the financing of terrorism, including counterfeiting and recovery of illicit funds.

Issued after the meeting between Chinese President Hu Jintao and visiting US President Barack Obama, the statement formulated that the two countries would strengthen cooperation on criminal investigations and deepen collaboration in combating embezzlement.

Other areas, such as counter-narcotics, control of pre-cursor chemicals and combating unlawful migration, smuggling and human trafficking, are also targeted for more cooperation in the future.

The two countries agreed to exchange evidence and intelligence on law enforcement issues in a timely and reciprocal manner, and undertake joint investigations as well as provide investigative assistance on cases of mutual interest, according to the statement.

Obama is in Beijing for a four-day state visit to China that started in Shanghai on Sunday night.?