President Hu Jintao had a meeting with US President Barack Obama on the afternoon on March 26 in Seoul, Republic of Korea.

Chinese Assistant Foreign Minister Ma Zhaoxu said the two presidents had an extensive and in-depth exchange of views on China-US relations and other issues of common interest and they reached a lot of consensus.

Talking about China-US economic and trade ties, President Hu said that the China-US business cooperation is, in essence, mutually beneficial.

It is against the backdrop of constantly expanding and deepening mutually-beneficial cooperation between China and the United States that some economic and trade frictions have occurred between the two countries, and these frictions should be resolved in a gradual way in the course of strengthening cooperation.

China will continue to take effective measures to address the legitimate economic and trade concerns of the United States, Hu said.

China hopes that the United States will work in the same spirit and take early and concrete steps on such issues as easing restrictions on high-tech exports to China, Hu added.