US President Barack Obama has opened a two-day conference with senior Chinese officials in Washington by saying that the relationship between the United States and China "will shape the 21st century".

President Obama emphasised the many common interests between Washington and Beijing including sustainable economic recovery, the battle against climate change and nuclear non-proliferation, making specific mention of Iran and North Korea.

US Treasury Secretary Timothy Geithner is hosting the China summit along with US Secretary of State Hillary Clinton. He called on China to focus less on exports and more on internal demand, arguing that this will benefit the global economy.