President Biden, Chinese President Xi plan to hold virtual summit: White House

According to the White House, US President Biden and Chinese President Xi Jinping are set to hold a virtual meeting before the end of the year.

The virtual meeting has reportedly been agreed upon in principle. Reports say the meeting was made possible after US National Security Advisor(NSA) Jake Sullivan met top Chinese diplomat Yang Jiechi as the two set the stage for the upcoming meeting.

China's Xinhua news agency declared, "when China and the United States cooperate, the two countries and the world will benefit".

White House spokeswoman Jen Psaki said: "We are still working through what that would look like, when and of course the final details we don't quite have them yet."

The proposed virtual meeting comes amid increased tensions between China and the United States over Taiwan and the continuing trade row.

On Monday, US trade Representative Katherine Tai had informed she would be meeting Chinese officials in an attempt to break the trade deadlock which has led to increased tension between the two countries.

On Wednesday President Bidenhad declared the US was ready to abide by the Taiwan agreement referring to the "One-China" policy shortly after China sent the largest number of warplanes to Taiwan escalating tensions between the two countries.

President Biden was reportedly set to meet the Chinese president this month at the G20 summit, however, it is unclear whether the meeting was official.

President Biden had spoken to Xi earlier, the first was when he took office and the other phone call took place last month which lasted for one and half hours.

(With inputs from Agencies)