BEIJING -- Chinese Vice Premier Zhang Gaoli met with former US Secretary of Defense William Cohen on Monday and pledged to create fair business environments for foreign enterprises.

During the meeting, Zhang said China is readjusting its economic structure and deepening reform and opening up, which will generate new opportunities for China and the United States to boost their economic cooperation.

The Chinese government welcomes and encourages foreign enterprises, including US ones, to invest in China and will make efforts to create fair environments for all sorts of enterprises, from home and abroad, according to the vice premier.

"China and the United States share a wide range of common interests," he said, adding that China is committed to establishing a partnership featuring mutual respect and win-win cooperation with the United States.

Cohen, who is currently chairman and chief executive officer of the Cohen Group, said the economic cooperation between China and the United States is of great significance for the two sides as well as for the whole world, pledging to play an active role in advancing the cooperation.