Visiting Chinese President Hu Jintao said in Sydney today that exchanges between Chinese and Australian legislatures have contributed to the comprehensive cooperation between both countries.

During his meeting with David Hawker, speaker of the Australian House of Representatives, and Alan Ferguson, president of the Australian Senate, this morning, Hu lauded the two countries' legislatures for promoting the friendship between the Chinese and Australian people and the comprehensive cooperation between the two nations.

With the development of bilateral ties, the two countries have enhanced their political mutual trust and made remarkable progress in economic and trade cooperation, said the Chinese president.

The two countries have coordinated closely in handling regional and world issues, he added.

"The development of China-Australia relationship serves the fundamental interests of both countries and peoples and has enhanced peace, stability and prosperity in our region and the world at large," Hu said.

"China would work together with Australia to increase mutual trust, expand common ground, deepen cooperation and boost the growth of China-Australia ties," the Chinese president said.

For his part, Hawker said Australia would firmly adhere to the one-China policy.

He said bilateral relations have maintained a strong momentum of growth, with high-level exchanges increasing and economic and trade cooperation expanding. China will soon become Australia's largest trading partner, he said, adding that he hopes bilateral ties would develop further.

Ferguson said that in recent years, the Chinese National People's Congress and the Australian parliament have kept frequent exchanges of visits, which have promoted the development of bilateral ties.

He hoped that the legislatures of the two countries would continue to play an active role in expanding the mutually beneficial cooperation.

President Hu is on a state visit to Australia and will also attend the Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) slated for Sept 8-9 in Sydney.