Beijing - Uruguayan President Tabare Vazquez was greeted by Chinese counterpart Hu Jintao in Beijing's Great Hall of the People on Monday as the two leaders seek to deepen their countries' cooperation ahead of the upcoming G20 financial summit in London, Chinese state television reported.

In the meeting, Vazquez - accompanied by the Uruguayan finance minister, foreign minister, the minister for industry, energy and mining - spoke out in favour of a new financial order.

The summit in London should relieve the pressure by the global financial crisis on developing countries, Vazquez said.

Hu said that China put great emphasis on the G20 meeting and was ready to strengthen efforts and communication with all parties to achieve positive results from the summit.

Both leaders agreed to further push for a "mutually beneficial, long-term and stable relationship" between China and Uruguay, state television reported.

After their talks, Hu and Vazquez witnessed the signing of cooperation agreements, among them a memorandum of understanding on trade and investment.

Hu said the two sides should expand bilateral trade, promote two- way investment and carry out scientific cooperation.

The Chinese government will encourage Chinese entrepreneurs to invest in Uruguay, Hu said. China is Uruguay's third biggest trading partner.

He gave a positive assessment of relations with Uruguay and thanked the government there for its support of the one-China policy and not recognizing Taiwan, which China regards as a renegade province.

Vazquez arrived in China on Saturday for a six-day visit. He is scheduled to hold further talks with Premier Wen Jiabao and Wu Bangguo, the official number two in China's ruling Communist Party.

The Uruguayan president, who is on his first visit to China since taking office in 2005, is also to travel to the economic hub of Shanghai on Tuesday. (dpa)