(VOVworld) – US President Barack Obama and Chinese President Xi Jin-ping pledged to improve co-operative ties and settle disputes during a telephone call on Tuesday.

US President Barack Obama and Chinese President Xi Jinping walk the grounds at The Annenberg Retreat at Sunnylands in Rancho Mirage, California, on June 8, 2013. (Photo: Reuters)

Mr Obama said the US encourages China to switch to a consumer economy and pursue exchange rate policies based on the market. He also called for “swift work” by China to complete a high-standard and conclusive investment agreement and narrow their differences on cyber security issues. The two leaders reaffirmed their commitment to co-ordinate closely on security challenges, including jointly encouraging Iran to seize an historic opportunity in negotiations with the P5+1 on its nuclear program. Mr Obama invited Mr Xi to visit the US by the end of this year.