Phuc and Li's talks were preceded by the Vietnamese leader's meeting with Zhang Dejiang, head of China's legislature National People's Congress (NPC).
"Both leaders vowed to promote the healthy and stable development of bilateral ties," Chinese state-run Xinhua news agency reported.
Zhang said the two sides have reached important consensus on deepening bilateral comprehensive strategic cooperation.
"China is willing to work with Vietnam to push forward the long-term and healthy development of bilateral ties," he said.
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"Vietnam is ready to work with China to cement friendship and deepen pragmatic cooperation to achieve mutual benefits," he said.
Phuc is on an official visit to China from September 10 to 15 at the invitation of Chinese Premier Li Keqiang.
Phuc's visit comes close on the heels of Prime Minister Narendra Modi's visit to Vietnam this month during which the two countries made several agreements including promoting defence cooperation.
Vietnam along with the Philippines, Malaysia, Brunei and Taiwan strongly oppose China's claims over almost all of the South China Sea.
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