Chinese President Hu Jintao met his Brazilian counterpart Luiz Inacio Lula da Silva in London Thursday for discussion about bilateral ties and important world and regional issues.

In recent years, fresh progress has been made in the development of Chinese-Brazilian ties, marked by frequent high-level contacts, deepening mutual political trust, increased trade and economic cooperation, as well as closer technological cooperation and cultural exchanges.

China and Brazil, both big developing countries, share identical or similar views and common interest on many major international and regional issues.

The two presidents are meeting on the sidelines of Group of 20 (G20) summit on financial crisis.

The G20 consists of China, Argentina, Australia, Brazil, Canada, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, Britain, the United States and the European Union.