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Chinese President Xi Jinping on Thursday held phone talks with US President Donald Trump at the latter's request, according to the Xinhua News Agency. 

Xi said on Thursday that dialogue and cooperation are the only correct choice for China and the US. In his phone talks with Trump, Xi said that recalibrating the direction of the giant ship of China-US relations requires the two sides to take the helm and set the right course, adding that it is particularly important to steer clear of the various disturbances and disruptions.

Noting that at the suggestion of the US side, the two countries' lead officials recently held an economic and trade meeting in Geneva, Xi said it marked an important step forward in resolving the relevant issues through dialogue and consultation, and was welcomed by both societies and the international community.

The two sides need to make good use of the economic and trade consultation mechanism already in place, and seek win-win results in the spirit of equality and respect for each other's concerns, he said, adding that the Chinese side is sincere about this, and at the same time has its principles.

The Chinese, Xi said, always honor and deliver what has been promised, urging both sides to make good on the agreement reached in Geneva. In fact, China has been seriously and earnestly executing the agreement, Xi added.

The US side should acknowledge the progress already made, and remove the negative measures taken against China, he said.

The two sides should enhance communication in such fields as foreign affairs, economy and trade, military, and law enforcement to build consensus, clear up misunderstandings, and strengthen cooperation, Xi added.

Xi emphasized that the US must handle the Taiwan question with prudence, so that the fringe separatists bent on "Taiwan independence" will not be able to drag China and the US into the dangerous terrain of confrontation and even conflict.

Trump expressed his respect for President Xi and reaffirmed the importance of China-US relations. He welcomed China's continued economic growth and noted that the two countries can achieve great things through cooperation, according to Xinhua.  

The US president stated that the US will continue to uphold the one-China principle and reiterated that the Geneva trade talks were very successful, resulting in a strong agreement. He said the US is ready to work with China to implement the agreement and also welcomed Chinese students to study in the US.

Xi also said Trump is welcome to visit China again. The two heads of state agreed for both teams to continue implementing the consensus reached in Geneva and to hold a new round of talks as soon as possible.

"I just concluded a very good phone call with President Xi, of China, discussing some of the intricacies of our recently made, and agreed to, Trade Deal. The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both Countries," Trump wrote on Truth Social.

During the conversation, President Xi graciously invited the First Lady and me to visit China, and I reciprocated. As Presidents of two Great Nations, this is something that we both look forward to doing. The conversation was focused almost entirely on TRADE, Trump wrote.

Stock futures jumped after Xi's phone call with Trump. Futures tied to the Dow gained 89 points, or 0.2 percent. S&P 500 futures were also higher by 0.2 percent along with Nasdaq-100 futures, CNBC reported. 

Key call at crucial juncture

At this critical juncture, a phone call between the leaders carries significant weight, said Lü Xiang, research fellow at the Chinese Academy of Social Sciences, noting that President Xi's message to the US reaffirms China's sincerity and red lines in handling bilateral ties, while urging Washington to face reality and make rational choices.

China and the US are the world's two largest economies, and their bilateral relationship has a profound impact on the global economic landscape, thus the leadership of the two heads of state has always been an indispensable element in China-US interactions, playing a vital role in stabilizing the ties, Li Haidong, a professor at China Foreign Affairs University, told the Global Times.

Recently, the US has shown inconsistency in its China policy, while Beijing has maintained a clear and steady position. China has no intention of replacing or displacing the US, and its development has never come at the expense of other countries' interests, Lü said.

The fact that the latest call between the two leaders took place at the request of the US side indicates that China holds the initiative and reflects growing anxiety in Washington, Lü said, noting that the US risks self-inflicted harm through its pursuit of economic "decoupling." 

In response to the US' repeated claims that China violated the common understandings reached at the China-US economic and trade meeting in Geneva and made a series of negative moves, Chinese foreign ministry spokesperson Lin Jian said on Tuesday that the Geneva consensus was reached in line with the principle of mutual respect and equal-footed consultation. Let us stress once again that pressuring and coercion are not the right way to engage China. We call on the US to respect the facts, stop spreading disinformation, reverse the wrongdoings, and act to uphold the consensus, Lin said. 

Lü opined that China is responding to US pressure with restraint and resolve, and will not make concessions under duress. Instead, Beijing will continue to make decisions based on the shared interests of both countries. 

Li noted that by talking to each other, the two leaders can better understand each other's key concerns and manage differences, helping to bring greater stability to the bilateral relationship.