Most of the focus was on economic issues, because Wen is responsible for managing the Chinese economy, the world's second-largest behind the United States.

Mr. Obama noted that "there had not been much movement since" China said in June that it will implement a more liberal currency policy. The president told the Chinese leader that the Chinese inaction "had consequences for the global economy and the US economy".

He said the United States "looked for a more rapid and significant revaluation in coming months". "We have worked together on a whole range of issues," he said, citing the reaction to the financial crisis and global recession in recent years.

The countries also have cooperated extensively on issues of nuclear nonproliferation and have engaged in "very frank discussions and cooperated on issues of climate change," he added.

Mr. Wen noted that "common interests far outweigh our differences" and that despite "disagreements of one kind or another between our two countries, the differences can be resolved."

"Our two countries can have cooperation on a series of major international issues and regional hot-spot issues," he said. "We have cooperation on tackling the financial crisis and meeting the climate challenge. China and the United States have also embraced an even closer and bigger relationship in the fields of public finance, financial industry and economic cooperation and trade."

China and the United States have had a positive relationship despite "minor fluctuations," he said, apparently referring to differences over the U.S. trade deficit and currency policy.

However, the Chinese premier also accused the United States of policies that impede fair trade.

"China will continue to increase imports from the US," he said. "Meanwhile, America should also recognize China's market economic status, relax export control against China and take concrete moves to promote free trade in a real sense."