Visiting Chinese Premier Wen Jiabao and US President George W. Bush agreed Tuesday to further improve and strengthen bilateral relations

Visiting Chinese Premier Wen Jiabao and US President George W. Bush agreed Tuesday to further improve and strengthen bilateral relations which they said will benefit the people of both countries and are conducive to world peace and stability. Wen told reporters after talks with Bush that he had an in-depth exchange of views with Bush on Sino-US relations, and on regional and international issues of common concern. He said the discussion took place in a very friendly, candid, cooperative and constructive atmosphere, and two sides reached consensus on many issues and agreed that further improvement and growth of bilateral ties will not only benefit the two peoples but also world peace and stability. On Sino-US trade relations, Wen said the expansion of China's economic cooperation and trade with the United States has not come by easily. Trade between the two countries was less than 2.5 billion US dollars 25 years ago, but the annual volume now has exceeded 100 billion US dollars. Bilateral economic and trade links have been conducive to the interests of our two peoples and two countries, he said. Admitting problems, mainly the US trade deficit with China, in the China-US economic and trade relationship, the Chinese premier said the Chinese government has taken the problem seriously and has taken measures to improve the situation. Wen said that at an ensuing large group meeting with the US side, he would make one proposal and share with Bush the five principles he thought should guide the development of economic cooperation and trade between the two countries. For his part, Bush said that by working closely together, China and the United States "can accomplish a lot of very important objectives."