U.S., China agree to visa deal extension

BEIJING, Nov. 10 (UPI) -- China and the United States will offer visas, valid for up to 10 years, to each other's citizens, U.S. President Barack Obama announced Monday.

Visas between the two economically largest countries were valid for only a year, prior to the agreement. Student visas will be valid for five years, and business and tourist visas for ten. Obama made the announcement at the Asian-Pacific Economic Cooperation summit meeting in Beijing.

White House officials said the new policy would bring more Chinese visitors, and spending, to the United States. A White House statement noted, "Chinese travelers cite ease of visa policies as the second most important factor in deciding where to travel, behind only cost. A competitive visa policy is needed to secure our place as the chosen destination for millions of Chinese travelers."

Only two percent of China's 100 million overseas travelers visited the United States in 2013.

The announcement came after Obama told Chinese business leaders the United States welcomed "the rise of a prosperous, peaceful and stable China," adding he hoped China would "do well" and that "one country's prosperity doesn't have to come at the expense of the other."