From Asia Times Online (link):
Though one should not expect major substantive results from the summit between President George W Bush and Chinese President Hu Jintao on Thursday, such meetings between the leaders of two powers are necessary and helpful.
Outstanding issues such as trade will certainly be on the agenda, while other less prominent but not less important issues will also be covered in the talks. Most likely to appear on Hu’s list are the following major issues.
The US and China: Friends or foes?
The Chinese prefer to discuss specific issues under some general principles or guidelines. Paramount to the Beijing leadership is to determine the nature of US-China relations in the future.