addressing climate change, to promoting global economic security. now, developing a habit of cooperation is not easy. we have a lot of work to do. but we are both committed to building a lasting framework of trust that will support a cooperative partnership for the next 40 years and beyond. vice-president xi first came to the united states on an exchange

program 25 years ago to iowa, and he will travel there tomorrow to see some old friends. that visit illustrates how important the bonds between our people are. that is why we support programs like 100,000 strong, for american students to study in china. and many more people-to-people exchanges. >> [speaking in chinese]

>> so, it is a vague -- great present -- pledging to welcome vice president's xi and to celebrate the bonds of friendship between our nations governments and peoples and it is now my great honor to introduce vice-president biden. >> thank you all >> thank you all for being here and it is my honor to welcome vice president xi and the entire delegation. >> [speaking in chinese] i told vice-president xi his visit to iowa tomorrow will assure him more delegates than i got.

[laughter] and mr. vice president, this is not part of the script, but lindsey graham is relieved you did not show up in january -- you may have won the republican nomination. secretary kissinger, you can see formality is still my forte. madam secretary, this lunch is a great start. i hope we can match the extraordinary hospitality that the vice president showed me in my four-day visit to china last august.

the highlight of that trip for me, mr. vice president, was the time was spent in conversations together in beijing and cheng du, and i look forward to continuing the conversation we started this morning. the vice president has already participated in three meetings prior to this lunch, and they covered a broad range of constructive discussions. and we have a very ambitious agenda in the coming days as well.

as vice president i discussed at some length the united states and china have much to do together, quite frankly, because our relationship is literally going to help shape the 21st century. we are not only the world's two largest economies, but we are both pacific powers and everyday the affairs of our nations and the livelihood of our citizens grow more connected.

the president and i came in office determined to rebalance america's strategic priorities towards of those regions that are critical to our nation's -- most critical to our nation's future and that meant refocusing on asia, the most dynamic region of the global economy. >> [interpreter] >> and to state the obvious, the u.s.-china relationship is a critical component of our broader asian strategy. our people, both american and chinese, are in deep people -- quite frankly, people all of around the world will benefit from this mutual effort to build

a more copper to partnership between our countries. >> [interpreter] >> i first visited china in 1979. and the prosperity achieved since then, which i saw as recently as this past august, is, as all of you know who have visited thomas bunning, absolutely stunning. >> [interpreter]

>> few other nations in history have come so far so fast. and it is a great credit to the talent and industriousness of the chinese people. >> [interpreter] >> but i respectfully suggest that this remarkable growth did not occur in a vacuum. it was cultivated at every turn by an international system that enables rapid development grounded in rules that apply with equal measure to all nations. >> [interpreter]

>> mr. vice-president, even as our cooperation grows, as we discussed, the united states and china will continue to compete, and as americans, we welcome competition. it is part of our dna, and it propels our citizens to rise to the challenge. cooperation, as you and i have spoken about, can only be mutually beneficial if the game is fair.

>> that is why in the meetings we have this morning is essentially a continuation of the meetings we had in your country in august, and we spent a great deal of time discussing the areas of our greatest concern, including the need to rebalance the global economy, to protect intellect -- intellectual property rights and trade secrets, to address china 's undervalued exchange rate, to level the competitive playing field, to prevent the forced transfer of technology, and to continue constructive dialogue on policies that would benefit our citizens and the world. >> [interpreter]

>> while the united states and china, as you pointed out, mr. vice president, will not always see eye to eye, it is a sign of the strength and maturity of our

relationship that we can be candid about our differences, as we have been. >> [interpreter] >> we saw it in the recent u.n. security council debate about syria, where we strongly disagreed with china and russia's the note -- the revolution against the unconscionable violence of the aside regime. -- a resolution against the unconscionable violence of the al-assad regime. >> [interpreter]

>> and as was brought up by the president in his meeting with you and my meeting with you as well, we see our advocacy for human rights as a fundamental aspect of our foreign policy, and we believe a key to the prosperity and stability of all societies. >> [interpreter] >> we have been clear about our concern over the areas from which our perspective conditions

in china have deteriorated and about the plight of several very prominent individuals. we appreciate your response. >> [interpreter] >> despite our differences, china and the united states are working more closely together on a broader range of issues than ever before. >> [interpreter] >> these include pressing security challenges, north korea and iran, maritime security, cybersecurity, and the important work of developing cooperation between our military. >> [interpreter]

>> as you and the president briefly discussed in the oval office, it also includes our efforts in sudan and in south asia and on global issues such as climate change and nuclear security. >> [interpreter] >> we appreciate your candid this stunt -- responses as we discussed these issues and i

believe we appreciate -- you appreciate hours as well. >> [interpreter] >> so, mr. vice president, once again, welcome to the united states. often believe sometimes the best way to truly understand the country is to see it with your own eyes. there is an old chinese saying, better to travel 10,000 miles than read 10,000 books.

although i read dr. kissinger's book on china, i felt that my trip to your country was at least as important. [laughter] >> [interpreter] >> actually, mr. vice- president, i can't thank you enough for the hospitality extended to me on my trip and i would like, with your permission, to propose a toast. a toast to a successful visit four of the vice president and increase in cooperation and understanding that will help both of our nation's continue to increase this relationship, and may benefit not only us but the

whole world. >> [interpreter] >> mr. vice-president. [applause] >> this year marks the 40th >> [speaking in chinese]

>> mr. vice-president, madam secretary, ladies and gentlemen, dear friends. it gives me great pleasure to attend this luncheon hosted jointly by vice president biden and secretary clinton for me and my colleagues. last august, vice president

biden paid a successful visit to china. i am now keen the united states on a return visit at his kind invitation. the purpose of my visit is to implement the agreement between our two presidents. steve trust, to broaden practical corp., strengthen people to people partnership and further advance the " partnership between our two countries. >> [speaking in chinese]

>> this year marks the 40th anniversary of president nixon's visit to china and the shanghai communique. 40 years ago with the extraordinary courage, leadership of our country's open the door to china and u.s. exchanges that have been sealed off for years. despite some twists and turns, over the past four decades, china- u.s. relations have moved forward now out historic proportions. the growth of relations has brought a huge benefit to the two countries and people to your guns that is so strong impetus to peace, and -- to the two countries and people.

-- in the asia-pacific region in the world at large. china-u best relationship has been one of the most important, dynamic, and promising bilateral relationships in the world. as the saying goes, when you drink water, do not forget those whom died at the well. today as we enjoy the fruits -- we should be grateful to the generation of chinese and american leaders for their outstanding contribution to the new chapter and annals of china- u.s. relations. we should also be grateful to the chinese and american friends from various sectors, including many that are present today, for the painstaking and resourceful effort to they have made for the development of china-u.s. relations. >> [speaking in chinese]

>> in the past three years of during the obama administration, chinese-u.s. relations on a whole have maintain positive momentum of growth. in january of last year, president hu jintao came on a visit to the united states. he and president obama reached an important agreement on working together on building a corporate partnership based on mutual respect and mutual benefit, charting the course for the long term development of

china-u.s. relations. we are glad to see that the two countries have further deepen the practical cooperation and a wide array of areas and carried out productive communications and coordination on a range of major international, regional, and global issues. >> [speaking in chinese]

>> this morning and had a meeting with president obama. we had an in-depth exchange of views on the latter would relations and major issues of shared interest and reached a lot of new and important consensus. we all believe that the two sides should focus on our main interest and opened a new path of a quarter to partnership between major countries featuring harmonious coexistence, sounds interactions, and a win-win cooperation. to this end, our two sides should treat each other with

sincerity and candor and enhanced dialogue and communication. we should respect each other and strengthen strategic mutual trust. we should keep pace with the times and expand practical cooperation. we should look ahead to the future and step up people-to- people exchanges. and we should intensify coordination and work together to meet challenges. >> [speaking in chinese]

>> president obama, vice president biden and i devoted a greater part of our discussion on economic and trade issues. we shared the view that the economic, financial situation remains grim and ensuring growth and promoting employment are high on the domestic agenda of both countries. we must continue to make concerted efforts to tide over difficulties and accelerate the building of comprehensive and mutually beneficial economic partnership and maintain steady economic recovery and growth in both countries and to the world as a whole. we should tap our cooperation

potential to create -- and to strive for greater balance in trade and investment between the two countries. we should address each other's economic and trade concerns through dialogue and consultation, not protectionism. and up hold of the mutual beneficial pattern of china-u.s. economic relations and trade. >> [speaking in chinese]

>> we also have a candid exchange of views on human rights and other issues. i stressed that china has made tremendous and well recognized achievements in the field of human rights over the past 30- plus years since reform and

opening up. of course, there is always room for improvement when it comes to human rights. given china's huge population, considerable regional diversity, and uneven development, we are still faced with many challenges in improving people's livelihood and human rights. the chinese government will always put people's interests first and take seriously people's aspirations and demands. we will, in the light of china's national conditions, continued to take concrete and effective policies and measures to promote social fairness, justice, and harmony, and push forward china's cause of human rights. at the same time, we are ready to conduct candid and constructive dialogue and exchanges on human rights with the united states and other countries on the basis of equality and mutual respect with a view to enhancing

understanding, narrowing differences, learning from each other, and achieving common progress. >> [speaking in chinese]

>> china is the world's largest developing country, while the united states is the largest developed country. to build a new type of cooperative partnership between two countries like ours, it is a pioneering endeavor with great and far reaching significance. there is no precedents for us to follow and over the experience for us to refer to. what mr. deng xiaoping said, crossed the river by filling the stove or how secretary clinton put it -- when confronted by mountains, one finds a way

through. when blocked by a river, one finds a way to bridge to the other side. the chinese song goes like this -- may i ask where the path is? it is where you take your for -- take your first step. i am convinced that china and the united states have the wisdom, ability, and means to maintain and develop their cooperative partnership based on mutual respect and mutual benefit. and by doing so, will set an unprecedented and inspiring example of countries with different political systems, histories, and levels of economic development, to cultivate positive and cooperative relations. >> [speaking in chinese]

>> i now propose a toast to the health of a vice president biden and secretary clinton and that of all the friends present, to the remarkable development of china-u.s. relations in the past 40 years and an even better tomorrow of china-u.s. relations. cheers. [applause]

>> the chinese vice president's she jean ping also met defense secretary leon panetta -- xi jingping also met with defense secretary leon panetta.

>> nice to meet you, sir. >> mr. vice-president, it is truly an honor to be able to host you at the pentagon today. >> [interpreter] >> the united states and china are pacific powers. and we welcome the rise of a

prosperous and successful china. that plays an active and responsible role in regional and global security affairs. we want to work with china to build an open, transparent, and in close of regional security order. to build a cooperative partnership, it is essential that we enhance mutual trust.

mutual trust and understanding between our two military establishments. it is in the interest of both of our countries to work toward genuine strategic transparency. and to build trust and cooperation on both sides. by forging these common bonds and by forging a stronger working relationship. i believe that the united states

and china can work together for continued peace, stability, and prosperity in the asia-pacific region. again, we welcome you here. >> [speaking in chinese]

>> honorable secretary panetta it is my great pleasure to come

to the pentagon at your invitation and to have this meeting with you and your colleagues, particularly general dempsey. i know you all attach a great deal of importance to developing our relationship. support cooperation between china and the united states -- and you want our two militaries to build a constructive relationship. i appreciate that position and i want to thank you for holding the grand ceremony for me. i am visiting the united states at the invitation of vice- president by then -- biden, a return visit of the one he made to china last year. by a return to the united states to deepen mutual trust and expand cooperation and also come to promote the building of a cooperative partnership between china and the united states based on mutual respect and mutual benefit. the important agreement reached by our two president's last

year. i also look forward to exchanging views with you on overall relationship, but especially on -- mil-to-mi relationl to. >> later on tuesday, the u.s. chamber of commerce to sponsored business roundtable. this is 15 minutes.

>> mr. president, thank you for the house about -- hospitality. i appreciate very much -- the u.s.-china business council hosting the event. a warm welcome to the vice- president and china's delegation. i have not been a very good host thus far. vice-president xi are arrived yesterday and we have been going since this morning, meeting after meeting, and forget.ely -- don't we are joined by some and distinguished business leaders.

honored to have you here as our guests, and secondly, how important laying we failed u.s.- china trade relationships are for both of our nations. as you and i discussed in the past, mr. vice president, we presume as well it is important for the world at large. in this area and many others we are working together to in unprecedented degree. let me be clear, i believe -- and the president also said not long ago -- we believe that a rising china is a positive development. not only for china but also for the united states and the world. it will fuel economic growth and prosperity and a rise in china will -- a new partner with whom we cannot have held a meeting

the global challenges your face. even as our nation's cooperate, though, as the vice-president points out, we will continue to compete. as americans, we welcome this competition. i've said to the vice president before, is part of our dna. and it pushes our companies to develop better products and services and our government to craft better policies. but competition can only be mutually beneficial if the rules of the game are understood and agreed upon. i am pleased we made progress on areas of concern. china's exchange rates are depreciating but -- appreciating but still remain undervalued. and this year, a tax reform policy to boost consumption.

an important step in reforming the financial sector. china has responded to our concerns about procurement policies and established a high- level body to strengthen enforcement of intellectual property rights as well. for our part, the u.s. is working to be responsive to chinese concerns as well. for example, the united states is expanding our visa processing capacity in china to help reduce delays encourage chinese travel to the united states. but i am sure the vice-president will be the first to tell you we have work to do, especially discriminatory subsidies, financing, protecting intellectual property and trade secrets, and ending the practice of making the transfer of technology a requirement for doing business. the united states will also work to ensure that all countries

play by international rules. we brought cases that have challenged unfair trade practices, and we have descended u.s. producers and workers in many arenas. of the month's state union address, president obama -- protect our market. the benefits, and there are many, and the challenges of doing business with china as well as your plans here and their plants here in the united states. we welcome your suggestions on how we can address the difficulties you face, and i would to thank you, again, tom for your hospitality and thank all of your colleagues for joining us and i look forward to our discussion.

mr. vice-president. >> [speaking in chinese]

>> [speaking in chinese]

china-u.s. and economic cooperation. american writer edward bellamy's as the golden age is before us and not behind us. looking ahead to 2012 and even longer time to come, i am fully confident the chinese economy will maintain the fast development the u.s. economy will achieve strong recovery and growth, and china-u.s. economic cooperation has a bright future. i sincerely hope the business people of the two countries will seize the opportunity and strive for greater progress and drive more success stories in china- u.s. economic corporation. i thank you. >> several live events to tell you about today regarding

president obama's budget request. the house budget committee will hear from acting white house budget director jeffrey zients on c-span23. also on c-span 3 at 2:30 p.m., the head of homeland security, jan napolitano, will testify about her department that a budget request before the house homeland security committee. in a few moments, today's headlines and your calls live on "washington journal." and then the house of representatives will be in session at 10:00 a.m. eastern for general speeches, returning at noon to begin work on the surface transportation bill. and in about 45 minutes, we are focused on chinese vice president xi'trips to washington there are guest will be the cochairs of the u.s.-china working group, democratic representative rick larsen of washington and louisiana republican representative republican representative charles boustany