On the morning of October 20, 2003, President Hu Jintao met with Peruvian President Alejandro Toledo. The two sides exchanged views on how to further develop bilateral friendly and mutually beneficial cooperation.

Hu said that bilateral relations have developed smoothly since the two countries established full diplomatic relations 32 years ago, and that the two sides have steadily strengthened mutual political trust, expanded economic and trade cooperation and conducted good cooperation in international affairs in recent years. China-Peru friendship is deeply rooted in the hearts of the peoples.

Hu said that the Chinese government attaches importance to the development of friendly ties with Peru, and would like to further strengthen cooperation with Peru in political, economic and trade fields on the basis of equality and mutual benefit for the interest of the two peoples.

Toledo said that the exchanges between the people of Peru and China have a long history. 5 percent of Peru's population is of Chinese origin. The Chinese culture and local Indian culture have contributed to the development of Peru. The people of Peru cherish their friendship with the Chinese people. The Peruvian government firmly pursues its One China policy and regards China as one of its best cooperation partners in its development. Toledo expressed the hope that the two countries would explore new areas of cooperation and expand bilateral friendly and mutually beneficial cooperation.