The U.S. has been urged to relax restrictions on high-tech product exports to China and eliminate unreasonable regulations for Chinese companies investing in its country.

Chinese Vice Premier Li Keqiang made the comments when meeting with a U.S. delegation in Beijing. The delegation included former White House Assistant for National Security Affairs Stephen Hadley, former Deputy Secretaries of State James Steinberg and Richard Armitage as well as Joseph Nye, former Assistant Secretary of Defense.

As the top two economies in the world, the U.S. and China are and will be highly complimentary to each other in the coming decades. The essence of bilateral trade cooperation is of mutual benefit, Li said.

"The key to strengthen our cooperation is to jointly combat protectionism and provide a level playing field for businesses in the two countries," Li said.

This year marks the 40th anniversary of resumption of contact between China and the U.S.. Relations have made historical achievements, the key to which is that both sides have enhanced mutual trust, enlarged common ground and strengthened mutual interests, Li said.

China and the U.S. should stick to the right path to push forward ties and explore a new relationship pattern, Li said.

He said both sides should deepen mutually beneficial cooperation, manage disagreements and disputes and promote bilateral ties toward healthy and stable development, Li said.

Echoing the vice premier's views on bilateral ties, the U.S. said both the Democrats and Republicans supported a strong bilateral relationship. As former U.S. officials and long-term supporters to U.S.-China relations, they are willing to use their influence to contribute to bilateral friendly ties and regional stability and peace.

Li also stated China's solemn stance on the Diaoyu Islands issue, stressing the international community should jointly protect the outcomes of the victory of the Second World War and the post-war international order.