Xi claims 'success' as US trip ends in Hollywood

Xi made the comments in the final hours of his five-day trip, which started with power talks in Washington and included a charm offensive trip to America's heartland, where he reached out with billions of dollars in farm deals.

"I can now say my visit to the United States has been a full success," Xi said in a visit to an LA school with US Vice President Joe Biden, adding that his meetings with Biden and President Barack Obama had been "very fruitful."

Echoing the warm comments, Biden -- who visited China last year -- joked: "I envy a lot of things about him, starting with his full head of hair. And I admire his stamina. We have given him virtually no time to sleep."

A short time earlier US film giant DreamWorks Animation -- behind hits including the "Kung Fu Panda" films popular in China -- announced a $330 million Chinese joint venture, Oriental DreamWorks.

The tie-up, unveiled by DreamWorks Animation boss Jeffrey Katzenberg, will team his California-based studio with three Chinese companies to operate a studio in Shanghai.

The Chinese firms are China Media Capital (CMC), with plans to include Shanghai Media Group (SMG) and Shanghai Alliance Investment (SAIL), he said during a visit here by Chinese Vice President Xi.

"We are incredibly proud to establish Oriental DreamWorks alongside CMC, SMG and SAIL in this groundbreaking and historic alliance to create the leading Chinese-branded family entertainment company," said Katzenberg.

The Chinese companies will hold a majority stake of approximately 55 per cent in Oriental DreamWorks and DreamWorks Animation will hold approximately 45 per cent, said a company release.

The enterprise will initially be capitalized with cash and intellectual property valued at $330 million. The joint venture plans to launch business operations in Shanghai later this year.

Ruigang Li, chairman of China Media Capital, added: "We share the same vision with DreamWorks Animation to build a world-class family entertainment company."

DreamWorks Animation has enjoyed box office success in China led by its blockbuster "Kung Fu Panda" franchise, the US company said.

"Kung Fu Panda" was the number one animated film when released in China in 2008, while last year "Kung Fu Panda 2" became the highest-grossing animated film of all time in the region, grossing some $100 million.

The company has made a total of 23 animated feature films, including the "Shrek" and "Madagascar" franchises, as well as "Kung Fu Panda" and "How to Train Your Dragon."

The announcement came as Xi rounded off a US trip that included a meeting at the White House with President Barack Obama, who urged China to play by the "same rules" in the global economy but voiced hope for cooperation.

Xi, who is expected to lead the rising Asian power for a decade starting next year, then traveled to Iowa.

On Friday he was spending his final hours on US soil at an economic forum in downtown Los Angeles, before a National Basketball Association game between the LA Lakers and the Phoenix Suns at the Staples Center.

Xi is due to leave Los Angeles late Friday, and starts the next leg of his trip in Ireland on Saturday. He is also due to travel to Turkey before returning home.