President Xi Jinping said on Thursday that the economic and trade ties between China and the United States are mutually beneficial and win-win in nature, and trade wars have no winner.

Xi made the remarks during talks with visiting US President Donald Trump in Beijing.

He said that where disagreements and frictions exist, equal-footed consultation is the only right choice.

"Yesterday, our economic and trade teams produced generally balanced and positive outcomes. This is good news for the people of the two countries and the world. The two sides should jointly sustain the good momentum that we have worked hard to create," Xi said.