On November 20, 2004, President Hu Jintao met with US President George W. Bush during the APEC informal leadership meeting held in the Chilean capital of Santiago.

Talking about China-US relations, Hu said that over the past four years the China-US constructive partnership has made new headways. Bilateral high-level dialogue and exchanges at various levels are increasing, coordination and cooperation in such areas as economy and trade, antiterrorism, reconstruction of Iraq and law enforcement are advancing steadily and the exchanges between the militaries of China and US have basically resumed. Facts show that both China and US share extensive common interest and are well in a position to conduct mutually beneficial cooperation in a wide range of areas in a bid to benefit the people of the two countries and the world as well.

Hu noted that the next four years will be a critical period for the development of China-US relations. To enrich the connotations of China-US constructive partnership and push for the stable development of bilateral ties, both sides can make efforts in the following areas: first, maintaining the sound momentum of high-level exchanges between the two countries; second, strengthening the strategic dialogue between the two countries; third, giving full play to the role of China-US Joint Commission on Commerce and Trade (JCCT), Joint Economic Committee and Joint Committee on Science and Technology and promoting the healthy advance of bilateral economic and trade, financial and technological cooperation; fourth, continuing to follow the principle of reciprocity and mutual benefit to strengthen cooperation in antiterrorism, law enforcement, health and environmental protection. Both sides should continue to hold close consultations and coordination on the Korean Peninsular nuclear issue, reconstruction of Iraq and other regional and international issues.

Bush said that US-China relationship is one of the most important bilateral relations of the US. China is a great country developing constantly and the source of stability, trade and business expansion. On the basis of the cooperation over the past four years, the US is willing to strengthen collaboration with China to push forward the development of bilateral ties and enhance bilateral consultations and coordination on major international and regional issues in a bid to make the world a better place.

Concerning the Taiwan issue, Hu pointed out that currently the situation across the Taiwan Straits is complicated and sensitive. The Taiwan authorities still stubbornly hold the separatist position that "Taiwan is a sovereign state" and refuse to recognize the "1992 consensus" demonstrating the one-China policy. They are seeking "the legal basis for Taiwan independence" through the so-called constitutional re-engineering and try to separate Taiwan from China. It is in the core interest of China to maintain national sovereignty and territorial integrity. The Chinese government always adheres to the basic principle of "peaceful reunification and one country, two systems" and is willing to make every effort to solve the Taiwan problem through peaceful means and completely realize reunification. However, we will neither tolerate "Taiwan independence" nor allow any one to separate Taiwan from China. Over years we have been making efforts to resume and conduct cross-strait negotiations and repeatedly making it clear that we should put aside some political differences, resume cross-strait dialogue and negotiations as early as possible and any question can be discussed under the one-China principle. Once the Taiwan authorities recognize the "1992 consensus" which reflects the one-China principle, the dialogue and negotiations between the two sides of the Taiwan Straits can be resumed immediately.

Hu stressed that "Taiwan independence" will ruin peace across the Taiwan Straits and seriously damage the stability and prosperity of Asia and the Pacific. Both the Chinese and US sides should realize the danger of "Taiwan independence" and jointly curb the separatist activities of the "Taiwan independence" forces. Mr. President has reiterated on many occasions that the US adheres to the one-China policy, observes the three Sino-US joint communiqués and opposes "Taiwan independence" and especially openly opposed any unilateral attempts of the Taiwan authorities to change Taiwan's status quo, which we highly complimented. It is hoped that the US faithfully fulfills the above commitment and will not send any wrong signals to "Taiwan independence" forces.

Bush said that the US understands the sensitivity involved in the resolution of the Taiwan issue, insists on the one-China policy, observes the three joint communiqués, and opposes any unilateral attempts to change Taiwan's status quo and declare "Taiwan independence" and will not send inconsistent signals to the Taiwan authorities.

With regard to the Korean Peninsular nuclear issue, Hu said that a nuclear-free Korean Peninsular is the key to solving the problem peacefully through dialogue and maintaining the peace and stability of the Peninsular. The complexity of the nuclear issue on the Korean Peninsular requires patience, flexibility and sincerity of all parties concerned. China is willing to continue to coordinate and cooperate with all parties concerned and push for a new round of six-party talks to be held as soon as possible.

Bush said that the US highly compliments the active role of China in solving the Korean Peninsular nuclear issue and stands ready to continue to push forward the six-party talk process and try to solve the issue peacefully.

After the meeting the heads of the two countries jointly met journalists.

Hu noted that he just held talks with President Bush on a wide range of issues. President Bush and he reviewed the development of China-US relations over the past four years and feel satisfied with the progress of the constructive partnership between the two countries achieved up to now. Both sides agreed that the second term of President Bush will be a critical period for China-US relations. Both sides should work together to maintain coordination and cooperation in economic and trade, health, law enforcement and antiterrorism and related international and regional affairs. They also exchanged opinions on the Taiwan problem. Hu complimented the position expressed by President Bush to continue to adhere to the one-China policy, observe the three joint communiqués and oppose "Taiwan independence". Both leaders agreed to solve the nuclear issue on the Korean Peninsular peacefully through dialogue.

President Hu Jintao expressed gratitude to President Bush for inviting him to visit the US at a convenient time and said that he had extended an invitation to President Bush to visit China at a time to his convenience.

President Bush said that he held frank conservations with President Hu and looks forward to working with President Hu in the next four years to maintain peace on the Korean Peninsular, Asia and the Pacific and the world as a whole. He also exchanged ideas with President Hu on US-China economic and trade relations and expected to make joint efforts with President Hu to bring about wider prosperity to both peoples and promote the development of the mutually beneficial bilateral economic and trade relations. President Bush said that he had invited President Hu to visit the US at a convenient time, President Hu had also invited him to visit China when convenient and he had accepted the invitation with pleasure.

Director Wang Gang of the Secretariat of the CPC Central Committee and other main Chinese officials accompanying President Hu, the US Secretary of State Colin L. Powell and nominate national security advisor Steve Hadley were also present at the meeting.