Chinese President Xi Jinping on November 16 highlighted mutual respect, peaceful coexistence and win-win cooperation as three principles in developing China-U.S. relations in the new era.

Xi made the remarks in a virtual meeting with U.S. President Joe Biden.

Xi called on the two countries to respect each other's social systems and development paths, respect each other's core interests and major concerns, and respect each other's right to development.

"We need to treat each other as equals, keep differences under control, and seek common ground while reserving differences," Xi said.

Xi stressed peaceful coexistence between the two countries, saying that no conflict and no confrontation is a line that both sides must hold.

With their interests deeply intertwined, China and the United States stand to gain from cooperation and lose from confrontation, Xi noted.

The world is big enough for the two countries to develop individually and collectively, Xi said. "The right thing to do is to choose mutual benefit over the zero-sum game or the I-win-you-lose approach."