China has been hurt over the past months and is having a "hard time" due to strong steps taken by the United States against it over trade, United States president Donald Trump has claimed.
Donald Trump said trade talks were "moving along nicely" and that meetings were "being scheduled" at the G20 summit in Buenos Aires.
But Bloomberg later reported that the phone call - in which Trump and Xi both expressed optimism about resolving their bitter trade disputes - prompted Trump to ask officials to begin drafting potential terms. The offshore yuan jumped 0.83 percent to 6.8601.
Trump said he also talked with Xi about "many subjects", including a "good discussion" on North Korea, where Trump is trying to negotiate an end to Pyongyang's nuclear weapons program.
On Thursday, comments made by Mr Trump appeared to be an attempt to ease tensions.
"No country presents a broader, more severe threat to our ideas, our innovation, and our economic security than China", Wray said.
But within hours of the upbeat assessments, the US Justice Department took aim at another Chinese firm it accused of unfair practices, part of an across-the-board pressure campaign by the Trump administration targeting Beijing. "They all want to do it".
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US President Donald Trump delivers his speech as he and China's President Xi Jinping meet business leaders at the Great Hall of the People in Beijing, China, November 9, 2017.
Trump made no mention of whether the two leaders talked about the USA indictment unveiled Thursday of two companies based in China and Taiwan accusing them of stealing trade secrets from a US semiconductor company, Micron Technology Inc.
In Beijing, that was seen as an insult to Mr Xi, who sent a personal emissary to Washington for the negotiations, and cemented a view that Mr Trump's real goal was to thwart China's rise.
'We're going way up, and China has been hurt over the last number of months.
However, a senior Trump administration official on dismissed the report as untrue, a CNBC reporter said in a post on Twitter.
"The economic teams of the two countries should strengthen contact, conduct consultations on issues of mutual concern, and push for a mutually acceptable solution to China-US economic and trade issues", Xi said.
The US also sued to stop the companies from exporting to America any products that were created using the trade secrets.