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US President Joe Biden and his Chinese counterpart Xi Jinping held virtual talks on Monday amid mounting tensions between Washington and Beijing.

“We have a responsibility to the world and to our people,” Biden said at the start of the meeting. He added that “all countries have to play by the same rules of the road.”

The two leaders traveled together when both were vice presidents and know each other well, but they haven’t had a face-to-face meeting since Biden became president.

“I am very happy to see my old friend,” Xi said at the start of the meeting.

The Chinese leader told his US counterpart the two sides should improve communication.

A healthy and stable bilateral relationship is necessary for dealing with global challenges like climate change and COVID-19, he said said, according to a report from Chinese state media.

“I stand ready to work with you, Mr. President, to build consensus, take active steps and move China-US relations forward in a positive direction,” said Xi.

Biden calls for ‘common sense guardrails’

Biden said the two leaders must make sure relations do not veer into open conflict, including by installing “common sense guardrails.”

Regarding the meeting, Biden promised to address areas of concern for Washington, including human rights and other issues in the Indo-Pacific region.

China warns against ‘Cold War mentality’ at APEC
After the opening remarks, Biden and Xi began private talks on a range of thorny issues that have raised tensions between the two sides.

After holding talks for several hours with a short break in between, both leaders wrapped up their meeting.

Chinese Foreign Ministry spokesperson Hua Chunying said on Twitter the meeting was “wide-ranging, in-depth, candid, constructive, substantive and productive.”

In the run-up to the meeting, the White House set low expectations, saying that no major announcements or even a joint statement were anticipated.

The United States and China, the world’s biggest economies, disagree on a number of issues, including trade, technology and competition rules, Beijing’s military posturing in the South China Sea and its attitude toward Taiwan, as well as human rights violations in Hong Kong and Xinjiang.

Taiwan high on the agenda
Chinese officials said Taiwan would be their top issue for the talks.

Beijing views the self-governing island as a Chinese province and has vowed to bring it under its control, even by force if necessary.