Chinese President Xi Jinping said on Monday during a meeting with Joe Biden, his U.S. counterpart, that the leaders of China and the U.S. need to chart the right course for bilateral ties.

Though the two leaders have remained in communication via video-conferences, phone calls and letters, none of them will work better than face-to-face exchanges, Xi told Biden at the beginning of the meeting. 

"As the leaders of two major countries, we need to play the leadership role, set the right course for the China-U.S. relationship and put it on an upward trajectory," Xi said. 

'History is the best textbook'

Xi pointed out that from the initial contact and the establishment of diplomatic relations to today, China and the U.S. have gone through 50-plus eventful years, with gains and losses as well as experience and lessons. 

"History is the best textbook. We should take it as a mirror and let it guide the future," Xi told Biden. 

Currently, the state of China-U.S. relations is not in the fundamental interests of the two countries and peoples. It is not what the international community expects from us either, Xi said. 

'Back to the track of healthy and stable growth'

During the meeting, Xi expressed hope that he could work with Biden to bring China-U.S. relations back to the track of healthy and stable growth to the benefit of the two countries and the world as a whole.

The Chinese president emphasized that, in this time and age, great changes are unfolding in ways like never before. 

The world expects China and the U.S. to properly handle their relationship, Xi said. 

"We should work with all countries to bring more hope to world peace, greater confidence in global stability, and stronger impetus to common development. As always, I am ready to have a candid and in-depth exchange of views with you on issues of strategic importance in China-U.S. relations and on major global and regional issues," Xi said. 

The two leaders are in Bali, Indonesia for the 17th G20 Summit.