Hu, during the meeting, said, "This is our 12th meeting. We had very good talks in Seoul this March."

Over the past three months, working teams from both countries have carefully implemented the consensus reached between Chinese and U.S.leaders and made new progress in building a cooperative partnership, he said.

A sound, stable and fruitful China-U.S. relationship is in the fundamental interests of the two countries and also conducive to the regional and world peace and development, he said.

China highly appreciates President Obama's important role in developing bilateral ties, Hu said.

China is willing to work together with the United States to firmly stick to the trend of jointly building a cooperative partnership, continuously boost mutual trust and cooperation, properly deal with differences and sensitive issues, and push forward bilateral ties in a sustainable, healthy and stable way, he added.

Obama, for his part, said the two countries have made substantial progress in the development of their ties for the past three and a half years.

The two sides have constructed a model for practicial and active cooperation and carried out fruitful cooperation in world economy, bilateral trade and major international and regional issues, he said. It is not only in the interests of the two nations but the world at large, he added.

The U.S. president also voiced appreciation of Hu's leading role in developing the U.S.-China cooperative partnership as well as in the G20.

The two leaders met on the sidelines of the 7th summit of the G20, which convened Monday and Tuesday to focus on global growth and stability.

Special Report: President Hu visits Denmark, attends G20 Summit in Los Cabos, Mexico