Clinton voiced her expectations for "robust, open exchanges" which would "lay a firm foundation for cultural and educational understanding."

"We think the more our people learn to cooperate and collaborate, the more that China and the United States will be able to find solutions to many global challenges," Clinton said.

Based on this new platform, the two countries have made big strides in promoting better understanding between its peoples.

Educational cooperation is one of the most dynamic areas in people-to-people exchanges.

According to an annual Open Doors report by the United States, the number of Chinese students studying in the U.S. grew by 22 percent to nearly 158,000 students in the 2010/11 academic year, making China the leading sending country of international students for the second consecutive year.

Meanwhile, American enrollments in China also grew, but far more modestly at just 2 percent, with the number of Americans studying in China totalling just under 14,000.

To address this imbalance, the Obama administration launched the "100,000 Strong Initiative" in 2009, with a goal of sending 100,000 American students to China in the next four years.

The two countries also agreed to broaden one of the most successful exchange programs -- the U.S.-China Fulbright Program.

The program, which has already brought more than 3,000 American and Chinese graduate students and scholars to study, teach, and research in one another's countries, is being now expanded to include master's degree students and community college faculties.