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(CNN) —  

First Lady Michelle Obama and China’s first lady Peng Liyuan announced Friday that the panda born last month in Washington, D.C., has been named “Bei Bei,” which means “precious treasure,” according to the Smithsonian’s National Zoo.

The unveiling of the name – pronounced “bay bay” – took place during the first ladies’ joint trip to the zoo.

They traveled to the Panda House “to commemorate over four decades of scientific collaboration between the United States and China around giant panda conservation,” the White House said in a statement.

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Giant panda Mei Xiang lives at the zoo with her cub, Bao Bao, who is 2 years old, and Bei Bei, who was born with another cub in August. The other baby panda died after few days.

Chinese President Xi Jinping and his wife arrived in the United States on Wednesday and will be taking part in a state dinner at the White House Friday night.

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