ISTANBUL

In talks with US President Donald Trump on Thursday, China's President Xi Jinping said Beijing is seeking "long-term benefits" of cooperation and not engage in a "vicious cycle of retaliation," state news agency Xinhua reported.

Xi urged Washington to "focus on long-term benefits brought by cooperation rather than falling into vicious cycle of retaliation," and called on the US to engage in "positive interactions on regional and international stages."

Economic and trade teams of China and the US held "in-depth talks" and reached "consensus on solutions to problems," he added, noting that the teams will "constantly narrow down list of problems, extend list of cooperation," between the two sides.

"Economic, trade interactions should remain ballast and driver of ties, not obstacles or sources of conflict," Xi said.

China does not "seek to challenge or replace any country," and focuses on doing business, he said, expressing confidence that China can "deal with all kinds of risks, challenges."

Beijing will also "further comprehensively deepen reform" and expand "opening up to the outside world," Xi said.

Earlier in the day, Xi and Trump met in the South Korean port city of Busan, for the first time in six years. The leaders of the world's top two economies last met face-to-face in June 2019 at the G20 summit in Osaka, Japan.

The two leaders were in South Korea ahead of the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in the southeastern city of Gyeongju, which Xi will also attend. Trump held a meeting with APEC business leaders Wednesday, and left for the US on Thursday after his summit with Xi.