Biden, Xi stress cooperation in U.S.-China talks

U.S. President Joe Biden and Chinese President Xi Jinping sought a reset in relations on Monday, stressing open communication and friendly competition between the two countries as they sat for hours of virtual talks.

The virtual summit was aimed at relieving tensions between Beijing and Washington, which have stepped up over trade negotiations, Beijing's expanding nuclear arsenal, and Taiwan.

In a statement released after the meeting, the White House said Biden reaffirmed America's commitment to the One China policy, just as Xi warned against crossing the quote "red line" of Taiwan, which Beijing claims as its own.

Calling Biden an "old friend," Xi stressed the need for mutual respect, while Biden emphasized the importance of working together on global issues like climate change.

"As I've said before, it seems to me our responsibility as leaders of China and the United States to ensure that the competition between our countries does not veer into conflict, whether intended or unintended. It seems to me we need to establish some common sense guardrails."

The White House said Biden also raised concerns over Beijing's practices in Xinjiang, Tibet and Hong Kong, as well as its overall record on human rights.

Prior to Monday's meeting Xi and Biden had outlined competing global visions.

Biden has called for a "free and open Indo-Pacific" in the face of what Washington calls increasing Chinese "coercion."

And Xi, who is up for an unprecedented third term next year, has warned against returning to Cold War-era tensions.

Not on Monday's agenda was discussion of the upcoming Beijing Winter Olympics in February, which activists and U.S. lawmakers have urged the Biden administration to boycott.