"We expect the US to relax restrictions on high-tech exports to China and provide a good environment for Chinese businesses to invest in the United States," reported Xinhua citing Li in a meeting with the US delegation on Thursday.
The delegation includes US Secretary of Commerce Penny Pritzker, Trade Representative Michael Froman and Agriculture Secretary Tom Vilsack, who have come to Beijing for the 24th Joint Commission on Commerce and Trade (JCCT), which begins on Friday.
Li called on the two countries to make best of their advantages and improve cooperation.
Chinese Premier Li Keqiang called on China and USA to improve co-operation.
"I expect both sides to take a pragmatic attitude and understand each other to seek good results from the JCCT and deepen bilateral trade cooperation," Li said.
He said common ground outweighs differences in China-US relations as and applauded growing collaboration.
"Both sides should tap potential for further cooperation, respect each other's core interests and major concerns, properly handle differences and seek sound and steady growth of bilateral relations," the premier said.
Pritzker, on behalf of the US delegation, said having strong economic relations is of "vital importance" to both countries. "Having a positive and successful JCCT will help strengthen bilateral relationship," she said.
She underscored the US commitment to stronger cooperation with China in trade, investment, telecommunications, agriculture, food security and intellectual property protection.
She also pledged to deal with frictions properly.
The JCCT is an annual forum launched in 1983 for the two countries to promote trade and address issues of mutual concern.