Mr Obama needs Mr Hu’s co-operation on climate change, North Korea, and Iran Chinese President Hu Jintao is to begin a four-day visit to the US, which will include the first state dinner there for a Chinese leader in 13 years.
Both countries hope to unveil a raft of commercial and trade deals when Mr Hu meets President Barack Obama.
After the state dinner at the White House on Wednesday, Mr Hu will go from Washington to Chicago for two days.
On Monday, some US senators pressed for Congress to penalise Beijing for “manipulating” its currency.
They said it was important to punish China if it did not allow the yuan to rise in value rather than manage its exchange rate, making Chinese products cheaper in the US and raising the price of US goods in China.
“There’s no bigger step we can take to preserve the American dream and promote job creation, particularly in the manufacturing sector… than to confront China’s manipulation of its currency,” Democratic Senator Charles Schumer said.
Mr Hu had earlier said the yuan was not undervalued, and that China had adopted a “managed floating exchange rate regime” determined by the balance of international payments and supply and demand.
He also questioned the role of the US dollar as the world’s reserve currency and criticised US monetary policy, saying that by keeping interest rates low, the Federal Reserve was devaluing the dollar and creating inflation elsewhere.
Members of Congress are also focusing on China’s human rights record. Human rights activists, pro-Tibet campaigners, Uighurs, Taiwanese and others are also planning to hold protests during Mr Hu’s visit.
US and Chinese officials met on Monday at the White House to discuss commercial and trade issues, including energy deals. President Hu is due to join them, along with officials from the commerce ministry, on Tuesday.
The US is also encouraging China to buy tens of billions of dollars of aircraft from Boeing, car parts, agricultural goods and beef.
A Chinese trade mission has already signed six deals with US companies in Houston worth $600m (£376m), according to Chinese state media reports.
Trade between the US and China is worth $400bn, up from $100m 30 years ago, when the US formalised relations with the communist state.
The Obama administration also needs Beijing’s co-operation on climate change, North Korea, and Iran’s controversial nuclear programme.
The White House is to throw a lavish black-tie reception for President Hu on Wednesday evening, before which he will be greeted on arrival by Mr Obama and the First Lady, review troops, and attend talks.
Mr Hu is said to have felt insulted when former President George W Bush opted for lunch rather than a state dinner during his last visit in 2006.
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