Chinese hotpot [By Jia Qiang/China.org.cn]

For the first time since the founding of the People's Republic of China in 1949, a presidential election in the United States and a leadership transition in China took place within days of one another. This has presented a historic opportunity for the two countries to constructively reset their relationship for the benefit not just of themselves, but the world.

During President Barack Obama's first term in office, US policy has viewed China as a threat rather than an opportunity. It "pivoted" then "rebalanced" against an imaginary enemy. In so doing, it has lost innumerable opportunities to partner economically and strategically with China. By focusing US policy on its alliances with others in Asia, the Obama administration has given ammunition to those in China who argue US policy seeks to constrain China's rise.

US policies - and just as importantly, its political rhetoric - should instead support reform-minded people within China, including the new leaders, not give ammunition to those opposed to constructive relations and progress.

For instance, though the US ought to stand with Japan, a US treaty ally, the Obama administration should not stand idly by while Japan violates a 40-year understanding with China and asserts that no sovereignty dispute exists over the islands, known as the Diaoyu Islands in China and the Senkaku Islands in Japan, a position few international lawyers find credible.

As a first step toward more constructive relations, the US and Chinese governments should arrange a summit in China between the two presidents immediately after the National People's Congress in March. The two presidents should hold a joint news conference to set the right tone for better ties between the two administrations and energize both governments to make progress on specific initiatives.

With the focus on partnership, improvements in economic relations can be promoted. The countries should begin negotiations for a bilateral investment treaty and a US-China free-trade agreement. The presidents should set a one-year deadline for conclusion of the investment treaty and a three-year deadline for the FTA. With increasing bilateral investment, the presidents should announce the creation of an investment ombudsman to facilitate investments in both the US and China.

On the strategic side, the presidents should commit to increasing military-to-military dialogues, joint search and rescue operations, and joint anti-piracy and anti-terrorism initiatives. The US should urge its allies in East Asia, including Japan, the Philippines and Vietnam, to put aside their differences and pursue agreements with China to jointly develop disputed territories. China has settled almost all of its land border issues with its neighbors on terms that the international community views as fair, and this precedent ought to extend to disputed maritime areas. Most importantly, the US should acknowledge the remarkable progress made in cross-Straits relations and encourage both sides to reach a peace agreement.

When he speaks to the Chinese people, President Obama needs to remind them that the US understands that all societies have different histories, different cultural values, and different solutions to their needs, but it supports a prosperous China based on the rule of law and fairness.

When President Obama entered office, I urged him to go to China early and often. On the eve of his second term, I repeat that advice, believing that person-to-person exchanges and feet-on-the-ground experience can be transformative.

He now has a historic opportunity to make China a true partner with the US and to redefine the most important bilateral relationship in the world in a way that will enhance peace and prosperity for the whole world.

The author is president of the National Committee on US-China Relations. www.chinausfocus.com