President Xi Jinping vowed on Saturday vowed to work with the incoming US administration of President-elect Donald Trump as he held his final talks with outgoing President Joe Biden.

Biden met Xi for about two hours at a hotel where the Chinese leader was staying, on the sidelines of the Asia-Pacific Economic Cooperation forum in Lima, Peru, for their first talks in seven months.

"China's goal of a stable, healthy and sustainable China-US relationship remains unchanged," following the election, Xi said, acknowledging "ups and downs" between the countries. "China is ready to work with the new US administration to maintain communication, expand cooperation and manage differences."

Biden told Xi that the two leaders haven't always agreed but their discussions have been "frank" and "candid."

Xi also said the two countries' relationship would make "considerable progress" when both nations "treat each other as partner and friend, seek common ground while shelving differences and help each other succeed, according to a simultaneous translation.

"But if we take each other as rivals or adversary, pursue vicious competition, and seek to hurt each other, we would roil the relationship or even set it back," Xi said.

The talks come two months before Trump assumes office. (Reuters)