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Upon establishment, the 16 RCEP participating countries will form a trade bloc with a population of three billion and some 30 percent of global trade, which will pave way for the building of the Free Trade Area of the Asia-Pacific.

China is ready to work with the U.S. side to respect each other, pursue mutual benefit, focus on cooperation and properly manage differences, he said.

"BRICS continues to be and promises to emerge as a major influence in presenting a new model of financial governance as also in transforming conventional Bretton Woods financial institutions," said Swaran Singh, a professor of Center for International Politics at Jawaharlal Nehru University, in an email interview.

In the phone conversation, Xi said China and the United States share extensive common interests and have seen sound momentum of exchanges and cooperation in various areas at present.

The new leadership of the CPC Central Committee will work with the CPV Central Committee leadership headed by Nguyen Phu Trong to deepen strategic communication, enhance political mutual trust, implement important consensus, and properly handle related issues in order to promote sustained, healthy and stable development of bilateral ties, Xi said.