On Taiwan, the US president said that his country will maintains the one-China policy . "We oppose unilateral changes in the status quo in the Taiwan Strait by either side. We urge all parties to avoid confrontational or provocative acts. And we believe the future of Taiwan should be resolved peacefully," Bush said.

U.S. President George W. Bush (R) and Chinese President Hu Jintao (2nd R) wave along with their wives Liu Yongqing (L) and first lady Laura Bush (2nd L) as they stand on the Truman balcony of the White House after official South Lawn arrival ceremonies at the White House in Washington April 20, 2006. [Reuters]

For his part, President Hu Jintao said that he wished to convey to the great American people the warm greetings and best wishes of the 1.3 billion Chinese people. He mentioned that in mid-19th century, several dozen thousand Chinese workers, working side by side with American workers and braving harsh conditions, built the great railway linking the east and the west of the American continent.

"In our common struggle against fascist aggression over 60 years ago, several thousand American soldiers lost their lives in battlefields in China. Their heroic sacrifice still remains fresh in the minds of the Chinese people," Hu said.

The Chinese president that Chinese people has much respect for American people. "The Americans are optimistic, full of enterprise and drive, down to earth and innovative.

"In just over 200 years, they have turned the United States into the most developed country in the world and made phenomenal achievements in economic development and science and technology."

Both China and the United States are countries of significant influence in the world, Hu said. "Mutually beneficial and win-win China-US economic cooperation and trade benefit our two peoples and promote the economic growth in the Asia-Pacific region and the world at large. This has become an important foundation for China-US relations."

China is ready to continue to work with the U.S. side and other parties concerned to peacefully resolve the nuclear issue on the Korean Peninsula and the Iranian nuclear issue through diplomatic negotiation, to uphold the international nonproliferation regime and to safeguard global peace and stability, said the Chinese President.

Hu said that China will continue to pursue the strategy of boosting domestic demand and ensure fast and balanced economic development in China, and this will create more opportunities for China-U.S. economic cooperation and trade. He promised that China will continue to advance the reform of the RMB exchange rate regime, take positive steps in such areas as expanding market access, increasing import, and strengthening the protection of intellectual property rights, and further expand China-U.S. economic cooperation and trade.