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The Chinese economy is being transformed from fast growth to high-quality development. In 2017, the growth picked up for the first time in six years, reaching 6.9 percent, way above the 3.7-percent global economic growth.

Since their previous meeting, Xi said, the world situation has witnessed a lot of changes. As two major countries with great influence, China and the United States shoulder important responsibilities in promoting world peace and prosperity.

The meeting took place on the sidelines of the ongoing Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting, which was held in Papua New Guinea's capital city of Port Moresby.

In 1999, the two countries properly resolved the question of Macao through friendly consultations, setting an example for other nations to tackle issues left over from history, Xi said.

The decision was announced Friday at a chairman and vice chairpersons' meeting of the top advisory body which studied recent instructions made by Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, on improving the work of the CPPCC.