Los Cabos (Mexico), Jun 20 (IANS): Chinese President Hu Jintao met his US counterpart Barack Obama here Tuesday on bilateral relations and major issues of common concern.

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

A sound, stable and fruitful China-US relationship is in the fundamental interests of the two countries and also conducive to the regional and world peace and development, Xinhua quoted Hu as saying.

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

China is willing to work together with the US to firmly stick to the trend of jointly building a cooperative partnership, continuously boost mutual trust and cooperation, he added.

Obama 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 practical and active cooperation and carried out fruitful cooperation in world economy, bilateral trade and major international and regional issues, he said.

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.