In the latest round of key talks, China and the U.S. discussed holding a video summit between their leaders by the end of the year, Chinese Foreign Ministry spokesperson Zhao Lijian told a regular press briefing on Friday.

The summit will be an implementation of the important consensuses reached by the two heads of state during a phone call on September 10, when they agreed to maintain close contact in multiple forms.

High-ranking Chinese politician and diplomat Yang Jiechi and American National Security Adviser Jake Sullivan had a meeting in Zurich, Switzerland on Wednesday. The high-level talks, according to Zhao, were constructive and beneficial to increasing mutual understanding.

Apart from the upcoming summit, the two sides also discussed a number of priority issues between the two global powers, including the South China Sea and Taiwan.

Speaking of the meeting, Zhao said the two sides had a comprehensive, candid and in-depth exchange of views on China-U.S. relations and international and regional issues of common concern.

Whether China and the U.S. can handle their relations well bears on the fundamental interests of the two countries and two peoples as well as the future of the world, the spokesperson said, citing Yang.

When China and the U.S. cooperate, the two countries and the world benefit, and when they are in confrontation, the two countries and the world suffer severely, Zhao said, urging the U.S. side to have a deep understanding of the mutually beneficial nature of China-U.S. relations and correctly understand China's domestic and foreign policies and strategic intentions.

Zhao reiterated China's opposition to defining China-U.S. relations as "competitive" and expressed hope that the U.S. side will adopt a rational and pragmatic China policy to avoid a "new Cold War" between the two countries.

He also called on the U.S. side to respect each other's core interests and major concerns, and follow a path of mutual respect, peaceful coexistence and win-win cooperation.

Regarding issues related to China's Taiwan, Hong Kong, Xinjiang, Tibet and human rights as well as maritime issues, China urges the U.S. side to truly respect China's sovereignty, security and development interests, and stop using these issues to interfere in China's internal affairs, Zhao said.