Attempts to decouple or to sever supply chains in defiance of underlying laws would not help boost the US economy and would only make the world economy more vulnerable, he said.

Xi also said that, faced with a world of change and disorder, the international community and people around the world expect China and the US to take the lead in upholding world peace and security and in promoting global development and prosperity. This is the responsibility of China and the US as two major countries, he added.

Biden said that US-China cooperation is beneficial not only for the two peoples, but also for people of all countries. The US hopes to keep open the lines of communication with China to enhance mutual understanding and avoid misunderstandings or miscalculations, and it will work with China where the interests of the two countries align and also properly manage differences, he added.

The two presidents exchanged views on issues including the Ukraine crisis, with Xi reiterating China's principled position.