At a time of continued challenges in international financial markets, the two sides agreed that increased China-US cooperation not only served the common interests of the two peoples, but also contributed to peace, stability and prosperity of the Asia-Pacific region and the world at large.

The US side said new policies were being developed to expedite visa processing for Chinese citizens -- an area that has hindered many Chinese trying to visit the United States.

They agreed to respectively take measures to promote balanced and sustainable economic growth in their domestic economies to ensure a strong recovery from the international financial crisis.

They reaffirmed a commitment to more open trade and investment and to fighting protectionism to promote economic growth, job creation and innovation.

The two sides also negotiated a Memorandum of Understanding (MOU) to Enhance Cooperation on Climate Change, Energy and the Environment.