Xi pointed out that in the world today, the trends of turbulence and transformation are evolving, and deficits in development and security are looming large. Faced with a world of change and disorder, the international community and the people around the world expect China and the United States 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 United States as two major countries.

Recognizing the many challenges facing the global economy, Xi underscored the need for China and the United States to maintain communication on such important issues as coordinating macroeconomic policies, keeping global industrial and supply chains stable, and protecting global energy and food security. Attempts at decoupling or severing supply chains in defiance of underlying laws would not help boost the U.S. economy. They would only make the world economy more vulnerable.

He said the two sides need to work for deescalation of regional hotspots, help rid the world of COVID-19 as early as possible, reduce the risk of stagflation and recession, and safeguard the international system with the United Nations at its core and the international order underpinned by international law.

Xi elaborated on China's principled position on the Taiwan question. He highlighted that the historical context of the Taiwan question is crystal clear, and so are the fact and status quo that both sides of the Taiwan Strait belong to one and the same China.

The three China-U.S. joint communiques embody the political commitments made by the two sides, and the one-China principle is the political foundation for China-U.S. relations, Xi said, adding that China firmly opposes secession aimed at "Taiwan independence" and external interference, and never allows any room for "Taiwan independence" forces in whatever form.

The position of the Chinese government and people on the Taiwan question is consistent, and resolutely safeguarding China's national sovereignty and territorial integrity is the firm will of the more than 1.4 billion Chinese people, he said.

He also called on the United States to honor the one-China principle and implement the three China-U.S. joint communiques both in word and in deed.

Biden said the world is at a critical moment, adding that U.S.-China cooperation benefits not only the people of the two countries, but also the people of all countries.

The United States hopes to keep an open line of communication with China to enhance mutual understanding and avoid misperception and miscalculation, and will work with China where the interests of the two countries align and, at the same time, properly manage differences, he said.

He reiterated that the one-China policy of the United States has not changed and will not change, and that the United States does not support "Taiwan independence."

The two presidents also exchanged views on issues including the Ukraine crisis. Xi reiterated China's principled position.

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