According to Ukrainian newspaper Zerkalo Nedeli, with reference to U.S. newspaper USA Today, Obama outlined plans regarding changes in U.S. visa policy, which are to significantly facilitate the process of doing business in the United States for Chinese businessmen.

The new visa agreement provides for an extended period of stay in the United States for Chinese businessmen of up to 10 years, and Chinese students can also obtain a U.S. visa for a period of five years. The agreement will also simplify the visa issuing process for tourists from China by reducing the number of documents required for submission to the U.S. embassy, USA Today writes.

Obama said the visa issue was only the beginning of deeper cooperation between the two nations aimed at finding solutions to the many problems that exist between them.

"Changes to visa policy are only one of the solutions to the current situation,” Obama said at the APEC (Asia-Pacific Economic Cooperation) meeting in Beijing.

“Close cooperation between the U.S. and China will help not only in solving economic issues, but also in smoothing out many political differences."

On Wednesday, the President of the United States is to meet in an informal setting with Chinese leader Xi Jinping to discuss a number of other important issues, such as human rights, democratic protests in Hong Kong and the territorial disputes between China and Japan. Environmental problems will also be on the agenda.

Obama's statements on deepening relations with China have come after similar declarations by Russian President Vladimir Putin, who is also aiming at enhancing his country’s cooperation with China, particularly in the energy sector. And with the significant deterioration of Russia's relations with the West, Putin is seeking political support from Chinese leaders.

The U.S. president is on a one-week working visit to the Asia-Pacific region, during which he will also visit Australia and Burma.