US President Barack Obama said on Monday that his meeting with President Xi Jinping will help the two countries to "manage problems" and improve bilateral ties.

The remark came two days after Obama and Xi met on the sidelines of the G20 Summit in the lakeside city of Hangzhou, Zhejiang province.

Noting that it was his eighth meeting with Xi, Obama told reporters at the hotel where he was staying that China and the United States have agreed to increase cooperation in areas including climate change, peacekeeping, development and cybersecurity.

In his opening remarks, Obama expressed gratitude to Xi and the Chinese people for hosting the G20 summit in the "beautiful city" of Hangzhou.

The US president said that compared with the situation of the economic crisis in 2008, the G20 members including the US and other countries have improved their economies.

Obama also answered questions, including about his meeting with Russian President Vladimir Putin, his upcoming visit to Laos and the Trans-Pacific Partnership.

China's Foreign Ministry said that when Xi met with Obama he urged that both sides follow the principles of non-conflict, non-confrontation, mutual respect and win-win cooperation, that they deepen mutual trust, and that they manage and control their differences in a constructive manner.

Xi said China and the US have carried out fruitful cooperation under the G20 framework, and they have maintained close coordination and communication with regard to the preparation of the G20 Leaders Summit, according to the ministry.

Ni Jianping, a senior researcher at the Shanghai Institute of American Studies, said the meeting between Xi and Obama will have positive effects on China-US cooperation in the field of global governance.

The two countries' cooperation during the Summit on climate change issues will be an important diplomatic legacy of the Obama administration, Ni said. Xi and Obama jointly announced on Saturday, the eve of the summit, that they had agreed to join the Paris Agreement on climate change.

"President Xi has emphasized many times that the common interests of China and the US are far larger than their disputes," Obama said, adding that the two countries have made practical progress in areas including anti-terrorism, nonproliferation, anti-piracy and anti-tobacco.

Highlights of the consensus and outcomes reached during the meeting between President Xi Jinping and US President Barack Obama

Commit to using all policy tools - monetary, fiscal and structural - to foster confidence and strengthen growth.

Reaffirm that they will refrain from competitive devaluations and not target exchange rates for competitive purposes.

Reaffirm that any realignment under the IMF's 15th General Review of Quotas is expected to result in increased shares for dynamic economies in line with their relative positions in the world economy, and thus likely in the share of emerging market and developing countries as a whole.

Recognize the significant progress of the ongoing Bilateral Investment Treaty negotiations and recent exchange of the third revised and significantly improved negative list offers.

The US reiterated its commitment to encouraging and facilitating exports of commercial high-tech items to China for civilian users and for civilian purposes.

Launch consultation on the establishment of a dialogue mechanism between their joint staff departments.

Conduct joint training and seminars on familiarization and utilization of the Rules of Behavior for Safety of Air and Maritime Encounters before the end of this year, when Chinese naval ships make a port of call in the US.

To hold the third China-US High-Level Joint Dialogue on Cybercrime and Related Issues in Washington DC in December.

Continue to deepen and strengthen law enforcement cooperation, including fugitive repatriation and criminal assets recovery.

China expressed appreciation for the US' designation of the East Turkistan Islamic Movement as a terrorist group.