China ready to work and cooperate with U.S., says Xi

• Xi says both countries will gain from cooperation and lose from confrontation

• Biden and Xi are expected to hold a virtual meeting soon

Chinese President Xi Jinping said China is willing to work with the United States to enhance cooperation between the countries, but on the condition of mutual respect.

This comes ahead of an expected virtual meeting of the Chinese President with the U.S. President Joe Biden.

“Following the principles of mutual respect, peaceful coexistence and win-win cooperation, China stands ready to work with the United States to enhance exchanges and cooperation across the board,” Xi said, according to a letter addressed to the National Committee on U.S.-China Relations, a New York-based non-profit.

According to some media reports, Biden and Xi are expected to hold a virtual meeting soon.

Also Read: Global warming would rise to 2.4C due to inefficiency of COP26 pledges

“Right now, China-U.S. relations are at a critical historical juncture,” Xi said in the letter.

“Both countries will gain from cooperation and lose from confrontation. Cooperation is the only right choice.”

Xi’s letter to the U.S.

The letter was read by China’s ambassador to the U.S., Qin Gang, during the annual gala of the National Committee on U.S.-China Relations, which was livestreamed Wednesday morning Beijing time.

Xi said that China would like to work with the U.S. to “address regional and international issues as well as global challenges.”

The Chinese President added the two countries need to “properly manage differences” in the meantime, “so as to bring China-U.S. relations back to the right track of sound and steady development.”

Also Read: Apple launches business tools for small organizations in ongoing enterprise push

U.S.-China relations have worsened over the last several years as the former U.S. President Donald Trump levied many tariffs on the Asian country.

Trump levied tariffs on many imports from China, deeply impacting the country and also blacklisted several Chinese tech companies preventing them from buying supplies from U.S. businesses.

(With inputs from CNBC)

Picture Credits: Reuters