Chinese Premier Li Keqiang has said cooperation between China and the United States can create mutual benefit as trade consultations between the world's two largest economies continue.

"I believe cooperation between China and the U.S. can create mutual benefit," Li said during a meeting with former U.S. Secretary of the Treasury Henry Paulson in Beijing on Wednesday.

"The current international outlook is complicated and changing. China is determined to further its opening-up and follow the path of peaceful development. It is willing to work with countries including the United States to promote world peace, development and cooperation," Li added.

Read more: China, U.S. achieve substantial progress in new round of trade talks in Washington

Li noted that "China and the U.S. should stick to the consensus reached by the two heads of state, properly manage differences and promote bilateral relations based on equality and mutual respect. Cooperation between the two countries is mutually beneficial and can benefit the world."

Li expressed his expectation that the Paulson Foundation will continue to play an active role in developing China-U.S. relations and enhancing mutual understanding among the people of both countries.

Paulson: both sides need to find new ways to manage relations

Paulson said, "The current U.S.-China relations are at a critical moment." As both countries and the world have changed, the U.S. and China need to find new ways to manage bilateral relations.

"It is hoped that both sides will work together to promote the economic and trade relations. The Foundation will continue to contribute to the development of U.S.-China ties," he said. 

Read more: U.S. to start tariff exclusion process for Chinese imports