Beijing, May 15 (QNA) - Chinese President Xi Jinping and US President Donald Trump reached a sweeping series of understandings Friday centered on "strategic stability" and expanded economic cooperation.

The summit, held in Beijing, concluded with a commitment to insulate global trade from further volatility. President Xi emphasized that the two countries have found common ground on managing economic frictions and expanding "practical cooperation."

"The two sides have reached important mutual understandings on maintaining the stability of economic and trade relations," Xi stated, adding that both nations are committed to addressing mutual concerns through formal diplomatic channels.

President Trump struck an optimistic tone, characterizing the negotiations as a breakthrough. "We have concluded great trade deals," Trump announced, signaling a potential de-escalation of previous tensions.

According to the Chinese Foreign Ministry, the discussions extended beyond commerce to include rigorous coordination on regional and international security. A Ministry spokesperson noted that the personal engagement between the two heads of state was intended to inject "stability and certainty" into a fractured global landscape.

"These interactions have deepened mutual trust and elevated cooperation to a level that serves the interests of both peoples," the Ministry statement read.

This marks the first visit by a US President to the Chinese capital in nearly a decade.

Today’s restricted "small-group" meeting followed a marathon session of bilateral talks held on Thursday. (QNA)