President Xi Jinping has just completed a state visit to the United States, accomplishing much of his mission: Sino-US mutual reassurance on maintaining the status quo in the Asia-Pacific region and mutual recommitment to "a new model of major-country relationship".

Just before his visit, the US seemed quite wary of China's strategic intentions, especially Beijing's move in the South China Sea, the Belt and Road Initiative, and the Asian Infrastructure Investment Bank, not to mention the alleged hacking of US systems by China. For a while, there was concern that China-US ties had reached a critical juncture that could lead to confrontation.

The essence of a summit is the one-on-one meeting between the heads of state to, among other things, clarify strategic intents and offer strategic reassurance. Xi's visit attained these objectives.

The summit concluded with China respecting the US' traditional influence and interests in the Asia-Pacific, and welcoming its positive and constructive role in the region. The US, on its part, welcomed China's rise as a powerful regional and global player. There couldn't be better reassurance than this.

So long as the two permanent members of the UN Security Council remain committed to building stronger bilateral ties, there will be more such reassurances, which will also consolidate global and regional peace, stability and prosperity.

To reach this stage, Washington and Beijing have agreed to remain committed to fighting cyber-threat to protect both business interests and government secrets. The two sides addressed many cyber-and business-related issues to foster innovation at the entrepreneur and technology levels. Business circles across the Pacific should feel encouraged by the common will of the two leaders.

At a time when the US is still adjusting its economy and China is transforming itself through its economic "new normal", it is crucial for the two largest economies to avoid misunderstandings and misjudgments, especially at strategic level. The US may have reasons to highlight its competence in high-end exportation, but China needs to deepen its economic structural reform through scientific and technological innovation.