Chinese President Xi Jinping and his U.S. counterpart, Donald Trump, reached important consensus during their working dinner on the sidelines of the 13th summit of the Group of 20 (G20) Saturday local time in Buenos Aires, Argentina, which indicates the direction of the development of the Sino-U.S. relationship in the future, said Chinese State Councilor and Foreign Minister Wang Yi at a press briefing after the meeting.

"Coordination, cooperation and stability should become the defining features of the bilateral relations," said Wang.

He said that the two presidents agreed to keep in close touch with each other through mutual visits, meetings, telephone calls and correspondence, and will continue to provide guidance on China-U.S. relations. They have also agreed to exchange visits at the appropriate time.

"Facts have proven that China and the U.S. have more common interests than differences, and have greater need for cooperation than friction. As long as the two sides work together in the spirit of mutual respect, take care of each other's concerns and treat each other as equals in dialogues, the two sides will find win-win solutions to their problems," added Wang.

China reiterated its stance on Taiwan affairs, and the U.S. has expressed its support for the one-China policy. The two sides also exchanged views on the Korean Peninsula issues, according to Wang.

Moreover, the two sides have agreed to actively protect law enforcement and the control of illicit narcotics, including the control of Fentanyl. So far, China's actions in this regard have been fully recognized by the international community including the United States. China will also schedule all forms of Fentanyl and start the adjustments of related regulations.

Wang also noted that discussions between the two presidents on economic and trade issues are very positive and constructive. The presidents have come to an agreement on stopping the imposition of additional tariffs.

"The two teams will follow the principle guidance reached by the two presidents and step up their negotiations toward the elimination of all additional tariffs," said Wang. 

In their first meeting since November 2017, the two presidents had a profound discussion that lasted for 2.5 hours, much longer than scheduled, Wang said.