Obama, China's Xi discuss cyber security dispute in phone call

President Barack Obama stressed the importance of addressing cyber security threats on Thursday in a phone call with Chinese President Xi Jinping that came amid rising U.S. concern about hacking attacks emanating from China.                        

Obama called Xi to congratulate him on his new position and both agreed on the value of regular high-level discussions.

To that end, Obama noted that U.S. Treasury Secretary Jack Lew will visit China next week to be followed in coming weeks by Secretary of State John Kerry, a White House statement said.                          

Obama welcomed China's commitment to G-20 nations to move toward a more flexible currency exchange rate. The United States has long sought to persuade China to allow its currency to become more flexible and thus improve the ability to U.S. exporters to compete in the Chinese market.                                   

With the United States growing increasingly alarmed about cyber hacking intrusions emanating from China, Obama "highlighted the importance of addressing cyber security threats, which represent a shared challenge," the White House said.