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China and the U.S need to remain in communication on macroeconomic policies to boost a recovery from the pandemic and prevent financial risks, Chinese President Xi Jinping said during his first virtual meeting with his U.S. counterpart Joe Biden on Tuesday.

According to a statement read on CCTV, Xi called for the U.S to avoid the spillover effects of its domestic policy stance on trade with China, pointing out that China has agreed to provide a "fast pass" to facilitate American business communities to come to China,. He said the U.S should stop suppressing Chinese companies by abusing the concept of national security.

A statement put out by the White House focused more on strategic issues and Biden underscored that the United States remains committed to the "one China" policy.

"As in previous discussions, the two leaders covered areas where our interests align, and areas where our interests, values, and perspectives diverge," the U.S. statement said. "President Biden welcomed the opportunity to speak candidly and straightforwardly to President Xi about our intentions and priorities across a range of issues."