WASHINGTON — It was a day of pomp and protest — and very little progress — as President Bush and Chinese counterpart Hu Jintao talked Thursday about the issues that divide two nations entwined in a most delicate relationship.

Both leaders talked in positive terms during a ceremonial South Lawn welcoming event, an Oval Office photo opportunity and luncheon toasts.

"The United States and China are two nations divided by a vast ocean yet connected through a global economy that has created opportunity for both our peoples," Bush said in welcoming Hu to the White House.

"The Chinese people have always cherished goodwill towards the American people," Hu said.

But when it was over, administration officials talked mostly about ongoing differences on major topics, topped by China's unwillingness to move as quickly as the administration wants in revaluing its currency, a change that could chip away at the record trade imbalance between the two countries.

The United States has a $202 billion trade deficit with China, the largest the United States has ever had with another nation. In March, Chinese officials announced plans to allow its currency to begin to float on the international market, but U.S. officials say the move is insufficient.

"Some people today want to see a quick fix to the trade imbalance," said Dennis Wilder, acting senior director for Asian affairs at the National Security Council, adding there is no such quick fix.

Hu talked about moves in that direction, but Wilder said, "It's not nearly enough."

On working to prevent Iran from developing nuclear weapons, Bush told Hu "we expected more help," according to Wilder.

Bush, in his public remarks, did not shy from topics on which he and Hu differ, including religious freedom.

"China has become successful because the Chinese people are experiencing the freedom to buy, and to sell, and to produce — and China can grow even more successful by allowing the Chinese people the freedom to assemble, to speak freely and to worship," Bush said.

Hu, twice reminding Bush that as China's leader he represents 1.3 billion people, said his country is "firmly committed to the path of peaceful development."

His South Lawn remarks were interrupted by a lone protester — wearing press credentials granted by the White House — who screamed from a camera platform.

The woman, identified by the Secret Service as Wenyi Wang, shouted in English and Chinese.

"President Bush, stop him from killing," she yelled in English. "President Bush, stop him from persecuting the Falun Gong."