BALI — United States President Joe Biden said, following his three-hour-long meeting with Chinese President Xi Jinping, that they had an “open and honest” conversation, while reiterating that they will “compete vigorously” but that he’s not looking for “conflict”.

Addressing the press after the meeting, the US president said: “I absolutely believe there will not be a new Cold War... I do not think there is any imminent attempt on the part of China to invade Taiwan.”

He was replying to a question asked by a reporter whether Biden believes that a new Cold War with China can be avoided — specifically on the issue of Taiwan — and whether he believes China is preparing to invade Taiwan.

Biden added that he has made it clear that the US policy towards Taiwan has not changed at all and that the US wants to see issues “peacefully resolved”.

“I am convinced [Xi Jinping] understood exactly what I was saying.”

Biden added that the US is the best positioned country in the world to deal with economic and political changes and that he and Xi Jinping agreed their Cabinet members would meet to discuss many of the issues that were discussed Monday.

Biden was asked whether the Chinese president appeared more confrontational or more willing to compromise nowadays. To which he responded that he found Xi Jinping “the way he’s always been — direct and straightforward”.

He added that they were “very blunt with one another”, and said “yes” in response to the question of whether Xi appeared willing to offer compromises on certain issues.

President Biden said the two countries agreed to work together to solve global challenges and they also discussed Russia’s threat against Ukraine. He re-emphasized both countries’ commitment to opposing nuclear warfare.

The Chinese state media gave details of what President Xi said during the meeting of the two leaders, with Xi said to be “highly concerned” about the situation in Ukraine following months of fighting.

China has previously called for restraint during the ongoing war there, but has stopped short of condemning the invasion by Russia — which is an important trading partner.

It also said that the Chinese leader is said to have warned his opposite number against crossing a “red line” on Taiwan.

Biden had said he hoped both sides can clearly lay out their “red lines” and explain their interests, while China’s Foreign Ministry said they want to avoid misjudgments.

He’s asked on North Korea and the country’s reported plans for a new nuclear weapons test and whether China has the ability to talk Pyongyang out of any such test.

“It’s difficult to say I’m certain that China can control North Korea,” Biden said. But he added China has an “obligation to attempt” to ward off an nuclear test.

Biden and Xi opened their first in-person meeting since the former took office nearly two years ago, aiming to “manage” differences between the superpowers as they compete for global influence amid increasing economic and security tensions.

Xi and Biden greeted each other with a handshake at a luxury resort on Indonesia’s Bali island on Monday, where they are attending the Group of 20 (G20) summit of large economies, before they sat down for what was expected to be a conversation lasting several hours.

“As the leaders of our two nations, we share responsibility, in my view, to show that China and the United States can manage our differences, prevent competition from becoming anything ever near conflict, and to find ways to work together on urgent global issues that require our mutual cooperation,” Biden said to open the meeting.

Xi said he hoped they would “chart the right course for the China-US relationship” and that he was prepared for a “candid and in-depth exchange of views” with Biden.

“Both sides said they have got to find a way to work together. The White House briefing said they need red lines and have to work out what each other’s limits are on key issues.”

The two leaders entered the highly anticipated meeting with bolstered political standing at home.

Democrats triumphantly held onto control of the US Senate, with a chance to boost their ranks by one in a run-off election in Georgia next month, while Xi was awarded an unprecedented third five-year term in October by the Communist Party’s National Congress, a break with tradition.

“We have very little misunderstanding,” Biden told reporters in Cambodia on Sunday, where he participated in a gathering of Southeast Asian nations before leaving for Indonesia.

“We just got to figure out where the red lines are and ... what are the most important things to each of us going into the next two years.”

Before the meeting, Chinese Foreign Ministry spokeswoman Mao Ning had said China was committed to peaceful coexistence but would firmly defend its sovereignty, security and development interests.

“It is important that the US work together with China to properly manage differences, advance mutually beneficial cooperation, avoid misunderstanding and miscalculation, and bring China-US relations back to the right track of sound and steady development,” she said at a daily briefing in Beijing. — Agencies