Chinese Premier Wen Jiabao told U.S. President Barack Obama Wednesday that Beijing does not favor the concept of an informal "Group of 2," a comprehensive bilateral partnership that would essentially place their two countries at the helm of international affairs.

"We do not agree with the formation of a G2," Wen said of the concept floated in U.S. academic circles in 2006 and again by former U.S. National Security Adviser Zbigniew Brzezinski earlier this year. "China carries out an independent and peaceful foreign policy. We do not form any alliances with any nation or grouping of nations," Wen said, according to comments posted on the Chinese Foreign Ministry website.

Wen also stressed that China is still a developing country with a long road to go before becoming a modernized one.

At the same time, Wen said, cooperation between China and the United States will have a "unique" effect in helping establish a "new order" in international politics and economy, and promoting global peace, stability and prosperity.

In his talks with Obama, which came on the last day of the U.S. president's China visit, Wen also touched on the prickly issue of bilateral trade, saying that "China does not pursue a trade surplus."

He reiterated calls for the United States to amend protectionist laws on Chinese exports, and said both countries should "promote the balancing out of the bilateral trade imbalance."

Obama, in his extensive talks with Hu Jintao on Monday and Tuesday, called for China to stop the undervaluation of the Chinese yuan as a step toward correcting the massive trade imbalance between the two countries.

According to the Foreign Ministry, this was a topic that Obama also brought up in his meeting with Wen.

Obama called the bilateral relationship one that "used to be focused just on economic and trade issues" but is "now expanding to deal with a whole host of global issues in which U.S.-China cooperation is critical."

Obama and Wen also discussed climate change, North Korea and the Middle East among other issues, the Foreign Ministry said.

Obama left Beijing for South Korea late Wednesday afternoon on the last stop of his four-country swing around Asia that has already taken him to Japan and Singapore.

He is to return to the U.S. later Wednesday and Thursday.