Remarks at a Luncheon Honoring President Hu Jintao of China

Mr. President, Madam Liu, Laura and I are honored to welcome you to the— and your delegation to the White House. It's a pleasure to have you here, along with our other distinguished guests.

China is home to an ancient civilization, and it is helping to shape the modern world. In a single generation, China's economy has moved from isolation and stagnation to engagement and expansion. As China has grown, our two peoples have come to know one another better.

Thirty-five years ago this month, the Chinese Government welcomed the United States ping-pong team to Beijing. [Laughter] It's an event that marked the beginning of renewal—renewed cultural exchanges between our two nations. Today, Chinese athletes compete professionally in the United States, and Americans appreciate the opportunity to see them play.

In 2008, China will welcome athletes from all over the world as your great nation hosts the summer Olympics. Beijing will showcase China's transformation and demonstrate China's commitment to the international institutions that make fair and peaceful competition possible for all nations.

Mr. President, I thank you for the constructive and candid conversations we had this morning. I appreciate the opportunity to expand the dialog between our two great nations. And, Mr. President, I'm pleased to offer a toast to you and to your gracious wife and to the people of China.