BEIJING, July 4 (Xinhua) -- Chinese Premier Li Keqiang and his Russian counterpart, Dmitry Medvedev, had a telephone conversation on Friday afternoon about their next regular meeting.

Speaking highly of bilateral ties, Medvedev said he is looking forward to visiting China and attending the 20th regular meeting of Russian and Chinese heads of government by the end of this year and hopes for positive outcomes from the gathering.

Li, for his part, said that China and Russia are each other's biggest neighbor and that the prime ministers' regular meeting mechanism has been fruitful.

China, he added, stands ready to work with Russia to make good preparations for the upcoming meeting in order to achieve new progress in the development of bilateral relations and cooperation.