China and the United States will increase comprehensive exchanges, as the countries commit to building a new type of power relationship, the presidents of the world’s two largest economies said. After the first meeting of their two-day summit, President Xi Jinping and US counterpart, Barack Obama, stressed the importance of the countries’ ties in a globalized economy. “I am confident of building a new type of relationship, as long as we are committed to it,” Xi said at the Walter and Leonore Annenberg Estate at Sunnylands, California.

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