Chinese President Hu Jintao and US President Barack Obama met in London on Wednesday to discuss Sino-US ties, the financial crisis and other major issues of common concern.

Chinese President Hu Jintao (L) meets with US President Barack Obama in London, Britain, on April 1, 2009. [Li Xueren/Xinhua]

"Good relations with the US is not only in the interests of the two peoples, but also beneficial to peace, stability and prosperity of the Asia-Pacific region, and the world at large," Hu said at the beginning of the meeting.

"I hope I can establish good working and private relations with you," Hu added.

"The relation between the United States and China has become extremely constructive," Obama said.

"China is a great power and has a long and extraordinary history," Obama said.

"Our economic relation is very strong," he added, hoping the conversation will be "productive" and "open".

"I said publicly our relation is not only important for citizens of the two countries, but also help set the stage for how the world build with a host of challenges."

This is the first meeting between the two leaders since President Obama took office in January this year.

Chinese diplomats said earlier that the two leaders will discuss a wide range of topics including bilateral ties, joint actions to fight the global financial crisis and other international and regional issues of common concern.

Addressing a luncheon meeting at the Center for Strategic and International Studies (CSIS) in Washington last month, Chinese Foreign Minister Yang Jiechi said that the first meeting between President Hu and President Obama will be of great significance for bilateral relations at a new phase.