President Hu Jintao (R) shakes hands with Philippine President Benigno Aquino during a welcome ceremony at the Great Hall of the People in Beijing, August 31, 2011. [Photo/Xinhua]

BEIJING - Chinese President Hu Jintao and his Philippine counterpart Benigno Aquino III held talks in Beijing Wednesday afternoon.

Hu said he believes that Aquino's visit to China, the first of his visit to a country outside the Association of Southeast Asian Nations(ASEAN), will further promote bilateral traditional friendship and pragmatic cooperation, and lift bilateral strategic relationship of cooperation to a new level.

Aquino apologized for taking too long to visit China, saying the visit will serve as an opportunity for the two sides to "broaden and deepen bilateral ties and friendship existing between the two peoples for centuries."

Hu hosted a red-carpet welcome ceremony for Aquino, who is on his first state visit to China, at the Great Hall of the People before their formal talks.

Chinese ambassador Liu Jianchao said earlier that Aquino's delegation would group many business magnates and he would attend three business forums during the five-day visit.