China-U.S. cooperation benefits both countries and the world, Chinese Premier Li Keqiang said on Friday, adding that there should be more dialogue and communication between the two countries.

Getting the China-U.S. relations right bears on people's wellbeing of both countries, Li made the remarks at a press conference after the conclusion of China's annual national legislative session.

Li said that China and the United States are both permanent members of the UN Security Council, and China and the United States are the world's largest developing country and developed country respectively. Many global challenges require joint efforts and cooperation of both countries, he said.

Fifty years ago, the two countries broke the ice and started a journey of normalizing bilateral relations. Despite ups and downs, China-U.S. relations have been moving forward over the past half century, said the premier.

China hopes that the two countries would act in accordance with the common understandings reached in the virtual meeting between the countries' presidents at the end of last year, respect core interests and major concerns of each other, live together in peace, and pursue win-win cooperation.

Now that the door has been opened, it shouldn't be shut again, nor should there be decoupling, said the premier.

"Cooperation should be the mainstream because global peace and development hinge on cooperation," Li said, adding that even if there is market competition between the two countries in economy and trade, it should be healthy and fair.

He pointed out that China-U.S. cooperation has extensive areas and much untapped potential, and if the United States chooses to ease its export restrictions on China, trade volume of both countries will be even bigger and therefore deliver more benefits to both countries and their peoples.