Obama and Xi Will Cooperate on Cyberhacking

U.S. President Barack Obama on Friday said he and Chinese President Xi Jinping reached a "common understanding" on addressing cyber spying issues and agreed that neither would conduct or knowingly support hacking.

Obama said he raised "serious concerns" about growing cyber threats with Xi. "I indicated that it has to stop," he said, though he also urged further cooperation.

"This is progress, but I have to insist that our work is not yet done."