BEIJING, May 14 (Xinhua) -- Chinese President Xi Jinping held talks with visiting U.S. President Donald Trump at the Great Hall of the People in Beijing on Thursday.

Transformation not seen in a century is accelerating across the globe, and the international situation is fluid and turbulent, said Xi.

"Can China and the United States overcome the Thucydides Trap and create a new paradigm of major-country relations? Can we meet global challenges together and provide greater stability for the world? Can we build a bright future together for our bilateral relations in the interest of the well-being of the two peoples and the future of humanity? These are the questions vital to history, to the world and to the people," said Xi.

They are the questions of the times that the leaders of major countries need to answer together, he added.

"I look forward to working together with you to set the course and steer the giant ship of China-U.S. relations, so as to make 2026 a historic, landmark year that opens up a new chapter in China-U.S. relations," he said.

"I have agreed with President Trump on a new vision of building a constructive China-U.S. relationship of strategic stability," Xi said.

The new vision will provide strategic guidance for bilateral relations over the next three years and beyond, and should be welcomed by the people of both countries as well as the international community, he said.

The "constructive strategic stability" should be a positive stability with cooperation as the mainstay, a sound stability with moderate competition, a constant stability with manageable differences, and an enduring stability with promises of peace, Xi said.

The building of a constructive China-U.S. relationship of strategic stability should not be a mere slogan, but concrete action taken by both sides toward the same goal, he added.

China-U.S. economic ties are mutually beneficial and win-win in nature, said Xi. "Where disagreements and frictions exist, equal-footed consultation is the only right choice," he said.

Xi revealed that the economic and trade teams of the two countries produced "generally balanced and positive outcomes" in the latest round of bilateral trade talks on Wednesday.

"This is good news for the people of the two countries and the world," he said, calling on the two sides to sustain the good momentum that they have worked hard to create.

Noting that China will only open its door wider, Xi said American companies are deeply involved in China's reform and opening up, and the U.S. side is welcome to enhance mutually beneficial cooperation.

"The two sides should implement the important consensus we have reached, and make better use of communication channels in the political, diplomatic and military-to-military fields," Xi said.

The two countries should also expand exchanges and cooperation in areas such as the economy and trade, health, agriculture, tourism, people-to-people ties and law enforcement, he added.

Regarding the Taiwan question, Xi stressed that it is the most important issue in China-U.S. relations.

If it is handled properly, the bilateral relationship will enjoy overall stability. Otherwise, the two countries will have clashes and even conflicts, putting the entire relationship in great jeopardy, Xi said, urging the U.S. side to exercise extra caution in handling the Taiwan question.

Safeguarding cross-Strait peace and stability is the biggest common denominator between China and the United States, Xi said, emphasizing that "Taiwan independence" and cross-Strait peace are as irreconcilable as fire and water.

Trump said it was a great honor to pay a state visit to China, calling Xi a great leader and China a great country. "I have tremendous respect for President Xi and the Chinese people," Trump said.

Trump expressed his willingness to work with Xi to strengthen communication and cooperation, properly handle differences, make bilateral relations better than ever before and embrace a fantastic future.

The United States and China are the most important and most powerful countries in the world, and the two presidents can "do a lot of big and good things for the two countries and the world," he said.

Trump encouraged representatives of the U.S. business community to expand cooperation with China.

The two presidents exchanged views on major international and regional issues, such as the Middle East situation, the Ukraine crisis, and the Korean Peninsula.

They also agreed to support each other in hosting a successful APEC Economic Leaders' Meeting and G20 Summit this year.