The economies of China and the United States are closely intertwined, and the businesses of the two countries need each other, Premier Li Keqiang said at a press conference on Thursday.

The bilateral economic and trade ties have come a long way and both sides have benefited tremendously, Li said.

A few days ago, a hi-tech American firm initiated a new investment project in central Chinese city of Wuhan, according to Li. "This example shows that the business communities of our two countries need each other and our business cooperation can achieve win-win results," he said.