On June 26, 2010, Chinese President Hu Jintao met with U.S. President Barack Obama in Toronto. The two heads of state had an in-depth exchange of views on China-U.S. relations as well as major international and regional issues of common concern and reached new important consensus.

The Chinese president said progress has been made in bilateral ties recently, including the success of the 2nd round of the China-U.S. Strategic and Economic Dialogue last month.

Hu emphasized that currently the international situation continues to undergo profound and complex changes. “We are facing common challenges of pushing for further recovery of the world economy and dealing with various regional hotspot and global issues and therefore should continue to carry forward the spirit of staying in the same boat to overcome difficulties and win-win cooperation.” China is willing to work with the United States to carry on contacts at high and other levels, deepen pragmatic cooperation in all areas and boost communication and coordination on important international and regional issues, so as to push ahead with the China-U.S. relations along the positive, cooperative and comprehensive track, said the Chinese president. Hu said China appreciates the U.S. reiteration of its commitment to the one-China policy and its respect for China's sovereignty and territorial integrity.

The Chinese president said that the world economy is undergoing recovery but potential instability and uncertainty remain, and that the financial sector is not free from systemic risks. The European sovereign debt issue is a cause for concern and the world cannot afford to underestimate its impact on global economic recovery. China and the United States should continue boosting coordination of their macroeconomic policies and stick to the principle of dealing with trade frictions through dialogue on equal footing, Hu said. China has no intention to pursue a trade surplus against the United States and has been proactively taking measures to increase imports from the country, he said. Hu called on the United States to refrain from trade protectionism and gradually reduce barriers to high-tech exports to China in order to achieve healthy and balanced bilateral economic and trade relations.

Obama said the United States is glad to see recent progress in bilateral relations and happy to see a successful and prosperous China. Both sides have successfully held their strategic dialogue and human rights dialogue, further building up mutual trust and confidence, and their cooperation in all areas has made new achievements. The two countries have a great potential in bilateral cooperation, and both sides should carry out constructive cooperation for common development. He hoped that both sides will work together to advance bilateral relations, properly handle difference based on mutual respect and expand common interests. The Strategic and Economic Dialogue has not only helped boost the bilateral relations, but also explore ways of facilitating sustainable development on both sides, Obama said. He said the United States and China should work on the implementation of the decisions made at the Strategic and Economic Dialogue and boost cooperation to push for global economic balance and sustainable development and address climate change. He noted the United States is against trade protectionism.

The United States is committed to the one-China policy and respects the core interests of China, said the U.S. president.

Hu accepted with pleasure Obama's official invitation for a state visit to the United States.

The two leaders also discussed the situation on the Korean peninsula, the Iranian nuclear issue and other issues of common concern.

Wang Qishan, Ling Jihua, Wang Huning, Dai Bingguo and other officials attended the meeting.