Beijing, Jan. 31 : Chinese President Hu Jintao held a telephone conversation with his US counterpart Barack Obama on Friday over bilateral ties.

The Chinese president said China is ready to strengthen dialogue, promote mutual trust and expand cooperation with the US to confront various global challenges together and push forward a stable development of the Sino-US relationship, the Xinhua reports.

As the contagious financial crisis is still producing severe influence to national economies and people''s lives, the international community should strengthen coordination and promote closer cooperation to stand up to the challenge, Hu said.

Describing the Sino-US ties as the most important bilateral relations for both sides, Obama said enhancing bilateral constructive dialogue and cooperation is in the interest of not only the two nations, but also the world at large.

The US side is expecting closer cooperation with China on major international and regional issues, Obama said, adding that the US government is willing to join hands with China to develop a more active and constructive bilateral relationship.

Hu said China would join hands with the United States to work toward fruitful achievements in April''s Group of 20 (G20) summit in London and promote healthy and stable development of the world economy and finance.

Both sides exchanged visit invitations. The two leaders agreed to meet in the Group of 20 (G20) summit slated for April in London. (ANI)