Xi, Biden tackle pressing issues

"Planet Earth is big enough for the two countries to succeed, and one country's success is an opportunity for the other," he said.

The president said that China will not take the old path of colonization and plundering, or the wrong path of seeking hegemony with growing strength as it forges ahead with the Chinese path to modernization, adding that it does not export its ideology or engage in ideological confrontation with any country.

He stressed that China does not plan to surpass or unseat the US, and, likewise, the US should not scheme to suppress or contain China.

The two nations are fully capable of rising above their differences and find the right path to get along, as long as both sides respect each other, peacefully coexist and pursue win-win cooperation, he said.

While recalling pledges made by Biden during their meeting in Bali, Indonesia, last year, Xi highlighted the necessity for Beijing and Washington to assume a new vision and build five pillars of China-US relations.

The first pillar, he said, is to jointly develop a right perception of each other. Beijing is consistently committed to having a stable, healthy and sustainable relationship with Washington. Meanwhile, the nation has interests that must be safeguarded, principles that must be upheld and red lines that must not be crossed.

Second, he called upon both nations to manage their differences effectively, saying that they should look for ways to build bridges to meet with each other halfway. Beijing and Washington should appreciate each other's principles and red lines, and refrain from flip-flopping, provocation and crossing lines, the Chinese president said.

Third, both countries should work together to promote mutually beneficial cooperation, the president said. He underscored the broad common interests between China and the US, including in such traditional areas as the economy, trade and agriculture, as well as in such emerging areas as climate change and AI.

Both sides should make full use of restored and new mechanisms in foreign policy, economics, finance, commerce, agriculture and other fields, and carry out cooperation in such areas as counter-narcotics, judicial affairs, law enforcement, AI, and science and technology, he added.

Fourth, the Chinese president called upon both sides to jointly shoulder responsibilities as major countries, saying that they should lead by example, step up coordination and cooperation on international and regional issues, and provide more public goods for the world.

He also appealed for stronger people-to-people exchanges, which serve as the fifth pillar.