“Planet Earth is big enough” for both of us, Xi Jinping told Joe Biden, as the leaders warned that Sino-US tensions must not “veer into conflict” in their first meeting in a year.

The Chinese leader said the “China-US relationship has never been smooth sailing over the past 50 years or more”, but it has “kept moving forward” as he greeted Mr Biden in San Francisco.

President Xi said: “Planet earth is big enough for the two countries to succeed and one country’s success is an opportunity for the other.”

He added he looked forward to having an “in-depth exchange of views” during their high-stakes meeting.

Mr Biden welcomed Mr Xi to the scenic Filoli country estate in the northern California foothills, calling it an honour to host him.

He opened his remarks by acknowledging disagreements between the two leaders, but warned that those should “not veer into conflict”.

Mr Xi responded by saying that “turning their back on each other is not an option” for the superpowers.

This is a breaking story. More to follow.