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Noting that the presidents of the two countries have met multiple times and the bilateral comprehensive strategic partnership of coordination has been maintained at a high level, Li said this is not only in line with the interests of the two countries and the two peoples, but also conducive to the stability of the world and the recovery of the global economy.

There were successful examples in the past that China and the United States solved their trade differences through coordinated cooperation, said Xi, urging the economic teams of the two countries to increase their contacts and conduct consultations over issues of mutual concern so as to reach an agreement which is acceptable for both sides.

The two sides agreed to take appropriate measures to ensure smooth and timely implementation of the programs and projects through joint efforts, according to the officials.

The group initiated the program nearly a month ago as a plunging stock market posed threats to firms that pledged their shares as collateral to borrow money.

The meeting, held at a time when the regional economy is facing both opportunities and challenges, has pushed forward the practical cooperation in various fields within the APEC framework, Wang Xiaolong, director-general of the Department of International Economic Affairs of China's Foreign Ministry, told the press.