Chinese President Xi Jinping (L) holds a welcoming ceremony for U.S. President Barack Obama at the Great Hall of the People in Beijing, capital of China, Nov. 12, 2014. [Xinhua]

Xi reviewed his meeting with Obama at the Annenberg Retreat at Sunnylands in Rancho Mirage, California in June 2013, where they reached a consensus on building a new type of China-U.S. relations.

The two countries have since then made "positive progress" in bilateral coordination and cooperation in various areas, Xi said, citing the facts that last year bilateral trade volume soared to 520 billion U.S. dollars, outstanding amount of two-way investment stood at 100 billion U.S. dollars and more than 4 million trips were made between the two nations.

China and the United States worked together in tackling climate change, combating the Ebola epidemic and fighting terrorism, Xi said.

Facts have proved a new type of major-country relations between China and the United States serves the fundamental interests of the two peoples and helps maintain peace, stability and prosperity in Asia and Pacific and the world, Xi said.

Obama said yesterday evening and this morning we discussed "our priorities and our vision for the U.S.-China relationship."

"I believe our two nations have enormous stake in each other's success," Obama said, adding the United States welcomes a peaceful, prosperous and stable China.

Obama said he and Xi "engage in a honest and constructive dialogue around those differences and ensure we can manage them in a peaceful and effective way."

Obama said his discussion with Xi will help ensure bilateral relationship "continue to deliver results" for China, for the United States and for the world.

On Tuesday evening, the two heads of state held a meeting at the Zhongnanhai leadership compound in downtown Beijing after the APEC meeting.