Trump's crushing presidential victory ushers in a new era of uncertainty in the United States and the world, and heralds a possible shift in US-China relations, frayed in recent years by tensions over everything from trade to the status of self-ruled Taiwan.
In his first message to Trump since the former president secured a second term, Xi said "history has shown that China and the United States benefit from cooperation and suffer from confrontation", state broadcaster CCTV said.
CCTV did not specify how the message was conveyed.
"A stable, healthy and sustainable China-US relationship is in the common interest of both countries and is in line with the expectations of the international community," Xi said.
He called for Washington and Beijing to "strengthen dialogue and communication" and "properly manage differences".
The two countries must "find a correct way... to get along in this new era, to benefit both countries and the world", Xi said.
Chinese Vice President Han Zheng also sent a message to vice president-elect JD Vance, CCTV said.
Both Republican Trump and his Democratic rival Kamala Harris had pledged to get tougher on Beijing.
But Trump upped the ante, vowing to slap 60 percent tariffs on all Chinese goods entering the United States.
The president-elect aims to "restore some level of balance in the US-China trade", Yun Sun, a Senior Fellow at the Stimson Center, told AFP.
"Given his arts of 'maximum pressure' before striking a deal, I do expect him to impose the tariff," she added.
- 'Mutual respect' -
On Thursday Beijing warned that there would be "no winners" in a trade war, with foreign ministry spokeswoman Mao Ning saying it would not be "conducive to the world".
Xi and Trump have previously met four times, and the former president has touted his "very strong relationship" with the Chinese leader.
He has also claimed he would be able to talk Xi out of an attack on self-ruled Taiwan with threats of 150 percent tariffs.
Analysts had said the election outcome would be a key focus of this week's gathering of top lawmakers in Beijing, aimed at ironing out a stimulus plan to boost China's struggling economy.
Chief among the concerns will be how Beijing responds to Trump's expected huge tariff hike, which asset managers PineBridge Investments have suggested could hit $500 billion worth of Chinese exports.
"We expect the Chinese government to respond with limited retaliation and more domestic policy support to the economy, to partially offset the negative impact," Tao Wang, Chief China Economist at UBS Investment Research, told AFP.
China export growth beats expectations with October surge
Beijing (AFP) Nov 7, 2024 -
Chinese exports surged last month at their fastest pace in more than two years, data showed Thursday, easily topping forecasts and providing optimism about the economy as officials steel for a potential US trade war after Donald Trump was re-elected president.
The reading also came after Beijing began unveiling a raft of measures aimed at kickstarting growth with an emphasis on the troubled property sector, boosting hopes that years of post-Covid malaise may be nearing an end.
Exports climbed 12.7 percent to $309.1 billion last month, the General Administration of Customs said, well above the 5.0 percent forecast by analysts in a Bloomberg survey and far higher than the previous month. The figure is the best since mid-2022.
The world's second-largest economy has struggled to achieve a full post-pandemic recovery, with sluggish domestic consumption and a persistent debt crisis in the property sector hammering growth.
However, in a sign that much more needs to be done to reignite demand at home, Thursday's figures showed imports slipped 2.3 percent, more than expected and a reversal from September's slight growth.
Trump's victory in Tuesday's elections has fanned concerns of heightened trade tensions between the United States and China after he takes office again in January.
During his first term, he initiated a biting tariff war with Beijing, which he accused of taking advantage of Washington with "unfair" practices.
Incumbent Joe Biden has not reversed the tough stance towards China on trade, but Trump has suggested he will take an even harder line involving 60 percent tariffs on all goods from the country.
China's export growth in September came in "way better" than expectations, Zhang Zhiwei, President and Chief Economist of Pinpoint Asset Management, said in a note.
"This may be partly driven by exporters trying to front load shipments in order to mitigate the damage of potential trade war next year," said Zhang.
The country's performance "shows signs of stabilisation recently," said Zhang, adding that "we cannot rely on exports to carry China's economy".
Related Links
Global Trade News
| Subscribe Free To Our Daily Newsletters |
| Subscribe Free To Our Daily Newsletters |
