In his opening remarks, Xi noted that "the whole world is watching our meeting.
Currently transformation not seen in a century is accelerating across the globe and the international situation is fluid and turbulent", reports the BBC.
"The world has come to a new crossroads. Can China and the US overcome the Thucydides trap and create a new paradigm of relations? Can we meet global challenges together and provide more stability for the world? Can we, in the interest of our world, of our two peoples, and the future of humanity, build a brighter future for our bilateral relations?"
"These are the questions vital to history, to the world, and to the people. They are the questions of our times that you and I need to answer as leaders of major countries."
Xi also congratulated Trump and the US on their 250th anniversary of independence.
"I always believe that our two countries have more common interests than differences. Success in one is an opportunity for another, and a stable bilateral relationship is good for the world," he continued. "China and the US both stand to gain from cooperation and lose from confrontations."
"We should be partners not rivals, we should help each other succeed and prosper and find the right way for major countries to get along with each other in the new era."
Xi said he looked forward to having discussions with Trump and "working together with you to set the course for and steer the giant ship of China-US relations, so as to make 2026 a historic landmark year that opens up a new chapter".
