Xi tells Biden Beijing aims for 'smooth transition' in ties

LIMA:

China will "strive for a smooth transition" in relations with the United States, President Xi Jinping told his counterpart Joe Biden on Saturday, shortly before Donald Trump regains the White House, Chinese state news agency Xinhua reported.

Both countries should "continue to explore the correct way" to get along and "achieve long-term peaceful coexistence," Xi said at the talks held on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Peru, the agency said.

The meeting between the leaders of the world's top two economies comes two months before Trump takes office in January, amid concerns of new trade wars and diplomatic upheaval.

In his first White House term, the Republican engaged in a bruising trade war with China, imposing tariffs on billions of dollars in Chinese products and seeing retaliation from Beijing. He has embraced a similar stance on the campaign trail.

Xi warned Saturday that ties between both countries could "encounter twists and turns or even regress" if one side regarded the other as an opponent or enemy.

Also in attendance at the talks were US Secretary of State Antony Blinken and National Security Advisor Jake Sullivan, among other officials.

The Chinese delegation included Cai Qi, a top-ranking member of the Chinese Communist Party, Foreign Minister Wang Yi and Commerce Minister Wang Wentao.

On the campaign trail this time, Trump has vowed a series of protectionist trade policies including across-the-board tariffs on all imports and especially high levies on China.

On Saturday, Xi urged APEC members to stand firm on multilateralism and open economies while pushing for regional integration.

He nodded to efforts in creating an Asia-Pacific free trade area -- which has been in the works for years -- and said that Beijing is willing to negotiate trade agreements in the digital and green sectors.

Xi, whose country will host APEC in 2026, also called for greater cooperation in frontier fields like artificial intelligence and quantum information.

On Friday, Xi told the APEC CEO Summit that attempts to reduce global economic interdependence was "nothing but backpedaling."

China, the world's second biggest economy, has been grappling with challenges ranging from a prolonged housing crisis to sluggish consumption and local government debt.

The country is targeting annual growth of around five percent this year, but many experts consider this ambitious given the challenges its economy is facing.