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Xi noted that both China and the United States support the comprehensive and effective implementation of the Declaration on the Conduct of Parties in the South China Sea and an earlier completion of negotiations on the Code of Conduct in the South China Sea based on consensus.

Although China’s rise has offered a world of opportunities, the U.S. has grown wary of being challenged by China.

Xi said international economic and financial organizations, including the International Monetary Fund (IMF) and the World Bank, should move forward to "reflect changes in the international landscape."

Xi's trip, scheduled from Nov. 5 to 7, comes ahead of the establishment of the ASEAN Economic Community (AEC) by year end.

Judging from the size of the U.S. and Chinese economies, there is still great potential for bilateral investment between the two countries.