Hu made the remarks in talks with visiting ROK President Roh Moo-hyun who arrived Monday on a four-day state visit to China as Hu's guest.

The two presidents exchanged in-depth views on bilateral relations and international and regional issues of common concern, and reached wide-ranging consensus.

Hu pointed to the substantial development of bilateral relations since they forged diplomatic ties, the benefits to the two peoples brought about by cooperation, and the important contributions made by the two sides to regional peace, stability and development.

He characterized the development of Sino-ROK relations as "rapid growth, remarkable achievements, vast potential and broad prospects".

Hu suggested the two countries strengthen high-level exchanges and increase dialogue and exchanges at various levels; advance bilateral cooperation in such fields as economics, trade, science, technology, communications, energy and finance, and strive to increase their annual trade volume to 100 billion US dollars in five years; and expand bilateral exchanges and cooperation in culture, education, media and youth.

The two countries should also strengthen coordination and cooperation in regional and international affairs to promote regional and world peace and development, and they should address promptly and properly bilateral issues and jointly safeguard their friendship, said Hu.

Roh said bilateral relations had made rapid and all-round development since the two countries established diplomatic ties 11years ago, and the two countries had made encouraging achievements in exchanges and cooperation in various fields.

Roh said the steady development of bilateral relations conformed to the interests of the two countries and was conducive to regional peace and stability.

The ROK hoped to enhance exchanges with China, especially bilateral high-level visits and youth exchanges, noted Roh.

Besides, the ROK looked forward to strengthening bilateral economic and trade relations, and promoting bilateral cooperation in such fields as culture, education and society in a bid to establish bilateral an all-round cooperative partnership, Roh said.

(Xinhua News Agency July 8, 2003)