Chinese President Jiang Zemin gave a grand state banquet in the Great Hall of the People on June 27 for visiting U.S. President Bill Clinton and his wife Hillary.

Wang Yeping, wife of the Chinese President, attended the banquet.

Also attending the banquet were Chinese Party and state leaders Li Peng, Zhu Rongji, Li Ruihuan, Hu Jintao, Wei Jianxing and Li Lanqing.

Among the guests present were U.S.Secretary of State Madeleine Albright, U.S. Ambassador to China James Sasser and his wife, Secretary of Treasury Robert Rubin, Secretary of Agriculture Dan Glickman, Secretary of Commerce William Daley, U.S. Assistant to the President for National Security Affairs Samuel Berger.

The national flags of China and the U.S. were hung in the hall, and the banquet began with the military band playing national anthems of the two countries.

Speaking at the banquet, Jiang Zemin said he was very glad to host this state banquet.

On behalf of the Chinese government and in the name of his wife and himself, Jiang Zemin extended warm welcome to the U.S. presidential couple and other members of Clinton's official delegation.

Jiang said he had reached consensus with the U.S. president on the goal of developing Sino-U.S. ties oriented toward the 21st century and decided to make concerted efforts to build constructive strategic partnership between the two countries during his state visit to the United States last year.

"The exchange of visits between the heads of state of China and the U.S. will be of vital significance to deepening understanding, enhancing friendship, increasing consensus, expanding cooperation and advancing bilateral relations to a new phase of development," Jiang Zemin said.

Jiang noted that since China and the U.S. reopened the door to their contacts 26 years ago, generally speaking relations between the two countries have been growing, though there have been ups and downs.

"It shows that any twists and turns cannot stop the major trend of the growing bilateral relations," Jiang said.

He pointed out that the improvement and development of bilateral relations embodies the devotion and endeavor of people with insight in the two countries, and enjoys active support from the people of the two countries.

"It also shows that there are solid foundation and strong motivation for friendly cooperation among the statesmen and people of the two countries," the Chinese president said.

China and the U.S. have different social systems, ideology, cultural traditions, historical backgrounds and economic growth levels, he said. "Therefore, it is no wonder that the two sides differ in their views on some matters."

"What's important is that the common interests of the two sides are far greater than their differences, and hence, existing questions should not become obstacles to the growth of bilateral relations," Jiang said.

"As long as we view and handle the questions with a strategic and long-term perspective, relations between China and the U.S. will surely grow better," he added.

Speaking of strengthening the bilateral ties, Jiang said that as permanent members of the U.N. Security Council, China and the U.S. shoulder heavy responsibilities in safeguarding world peace, and close consultation and cooperation between the two countries constitute an important factor for maintaining regional and world stability.

He pointed out that the two countries have the ultimate common goal in preventing the proliferation of weapons of mass destruction, and there is an urgent need for increasing cooperation in environmental protection, cracking down on international crimes, drug trafficking and terrorism.

As the world's largest developing and developed nations, Jiang noted, China and the United States enjoy huge potentials for economic and trade cooperation and technological exchanges on the basis of equality and mutual benefit.

"We can also play an important role in maintaining international financial stability and promoting the sound development of world economy," Jiang pointed out.

Chinese and American cultures are both of unique features, which merits exchanges and learning from each other, said Jiang, adding that the people of the two countries enjoy a traditional friendship, and their leaders have attached great importance to development of bilateral ties and have made much effort to this end.

"Facts have shown that under the new historical circumstances, the common interests between China and the U.S. are expanding rather than reducing, the foundation for cooperation being consolidated rather than weakened, and favorable factors for developing bilateral ties increasing rather than decreasing," the Chinese president said. "Friendly cooperation between China and the U.S. is in line with the aspiration of the two peoples and will be beneficial to promoting world peace and development," Jiang said.

Mankind is marching into a new century, and peace and development have become the theme of the era. But these two issues still remain unresolved, said Jiang.

He acknowledged that "without peace, no development can be spoken of, and, if there is no common development, no lasting peace can be achieved."

Therefore, he said, maintaining world peace and promoting common development represent the biggest common interest for China and the United States.

In the pursuit of peace and development, it is essential to maintain the comprehensive security of various nations around the world and to handle international affairs in accordance with the principles of democracy, equality, justice and fairness, Jiang said.

"This is the general tide of the times and the common aspiration of the people, which conforms to the trends of historical development," he noted. "China and the U.S. should enhance cooperation and make due contribution to the attainment of these magnificent goals pursued by the people of the entire world."

Jiang went on to say that President Clinton and he had an in-depth exchange of views on Sino-US relations and the global situation this morning, reaching new and extensive consensus.

"Both sides agreed to strengthen cooperation in various fields and make continuous efforts to build a constructive strategic partnership between each other," he elaborated.

He expressed his firm belief that based on the principles enshrined in the three Sino-US joint communiques and the Sino-US joint declaration, the relationship between China and the U.S. would surely keep advancing on a correct track.

Jiang noted that President Clinton would also go to visit Shanghai, Guilin and Hong Kong following his trip to Xi'an and Beijing.

"I'm convinced that through this current China trip, you avail yourself of the opportunity to learn about China's longstanding history and splendid culture, witness the country's achievements in reform, opening-up and modernization drive, and experience the friendly affections of the Chinese people for the American people," Jiang told Clinton.

The Chinese president finally wished President Clinton's visit a complete success.

In response, President Clinton said he was honored to be in the Great Hall of the People, which reflects the impressive progress of the Chinese people in the 20th century.

He said that the Great Hall of the People reminded American people of what they saw on televisions 26 years ago, when President Nixon became the first American leader to visit China.

"Those were the first live pictures of China ever seen in my country. Across the United States, Americans were filled with great hope as relations resumed between our two great nations," he recalled.

He said that Nixon's visit changed history. "It reminded us of the warmth each nation felt for the other, long before the Cold War. It recalled our alliance in World War II, and our long history of commercial relations, dating back to the infancy of the United States," he said.

He noted that the two countries were trading together before the United States' Constitution was written.

"Even the tea that our founding fathers threw into Boston harbor in 1773 to protest British taxes came from China," he said.

"For most of our history, we have looked upon China as a distant friend across the sea.

"As the Bamboo Curtain opened, Americans and Chinese learned about each other all over again," he said.

Clinton said that starting with pandas and pingpong players, the two countries have built a broad and friendly relationship.

"Today China and the United States cooperate across a wide range of enterprises -- in business, in the arts, in the academic world and in the personal friendship that unites Chinese and Americans," he said.

He noted that more than a million Americans trace their roots to China.

"Every day, Chinese-Americans build a better America - as entrepreneurs and architects...artists and public servants," Clinton said.

He pointed out that the United States formed lifelong bonds with the thousands of Chinese students who study within the country each year, teaching Americans their culture as they learn from Americans.

"Americans are proud that many of China's leaders spent time in the United States," he said.

According to Clinton, Dr. Sun Yat-sen visited six times between 1896 and 1911 -- and he was in Denver when he learned he would become China's new leader.

He said that as two great nations, the United States and China are expected to set an example for the world.

"In the last few months, we have seen how much we can do together -- in our strong response to the crisis in India and Pakistan...our efforts for lasting peace on the Korean peninsula...our cooperation to stem the flow of dangerous weapons around the world," he said.

He used the teachings of Mencius to describe U.S.-China cooperation on international issues: "A good citizen in one community will befriend the other citizens of the community...a good citizen of the world will befriend the other citizens of the world."

He said that the American people admire the great strides China has taken.

"Your people are leading lives inconceivable just a generation ago," he said.

"Your phenomenal growth over twenty years has opened new worlds of possibility -- more jobs, more schools, greater mobility, and instant access to the outside world.

"We Americans appreciate the mutual respect of our relationship -- a relationship based on cooperation, candor and recognition of each nation's values and traditions," Clinton said.

He quoted an ancient Chinese proverb as saying: "Be not afraid of growing slowly; be only afraid of standing still."

In Conclusion, he said, "Let us commit to keep moving forward together, turning small steps into giant strides for our people, our nations and the world."

After the banquet, President Clinton and his wife were entertained with colorful theatrical performance in the banquet hall.