Chinese President Xi Jinping (right) speaks to US Treasury Secretary Jacob Lew during their meeting at the Great Hall of the People in Beijing yesterday. Xi told Lew that China wanted strong ties with the United States as the Chinese leader held his first meeting with a foreign official since being elected president.

President Xi Jinping says China is ready to work with the US to advance cooperation between the two countries.

Xi met yesterday with US Treasury Secretary Jacob Lew, who is on a two-day visit to Beijing. China and the US share common interests but there are also differences, Xi said.

He called on both sides to increase dialogue, mutual trust and cooperation; respect and take each other's vital interests and key concerns into consideration; and successfully manage differences with the aim of constructing a new type of relationship.

"I attach great importance to China-US relations, and am willing to work with the US to jointly advance the cooperative partnership," Xi said.

He referred to economic ties between the two nations as "a ballast stone" with mutual benefits, and urged respect for each other's interests in further development.

China's new president also voiced his hope that the two sides could enhance cooperation via mechanisms such as the China-US Strategic and Economic Dialogue, the Group of 20 and the Asia-Pacific Economic Cooperation to promote global economic governance and achieve robust, sustainable and balanced growth of the global economy.

Lew said President Obama was committed to strengthening bilateral cooperation and maintaining the growth of US-China relations.

As the world's two biggest economies, the US and China had responsibilities of vital importance in promoting economic growth in the two nations and the world at large, Lew said.

He called on the two sides to enhance cooperation on economic and strategic issues facing them and to properly manage their differences.

The US side was paying much attention to China's concerns on issues such as investment in the US by Chinese companies, US exports of high-tech products to China and the recognition of China's market economy status, Lew added.

The two sides also exchanged views on the situation in the Korean Peninsula as well as network security.

Lew was on his first China visit since he took office last month. The former White House chief of staff is also the first major foreign visitor received by Xi since China completed a once-in-a-decade leadership transition last week.

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