SAN FRANCISCO — President Joe Biden acknowledged to CEOs the public was skeptical of his economic policies, known as Bidenomics, before next year's election.

"I acknowledge there's a disconnect between the numbers and how people feel about their place in the world right now," Biden told CEOs Thursday during an event at the Asia-Pacific Economic Cooperation forum in San Francisco. "We can deal with the second part as well. We still have work to do, but our model for growing is delivering real results for all Americans."

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The president added: "We're delivering on our promises, and we're doubling down on our progress."

Biden also reflected on his four-hour meeting with Chinese President Xi Jinping, which he described as "a very good, straight-forward" discussion.

"I've said for a long time the United States is a Pacific power," he said. "I had that brief discussion yesterday with President Xi. He'd asked me before, I reminded him why we're so engaged in the Pacific: It's because we're a Pacific nation. And because of us, there's been peace and security in the region, allowing you to grow. He didn't disagree."

Biden additionally underscored that the U.S. is "not decoupling" from China, only "de-risking" and diversifying," after Xi criticized his "protectionist" economic approach, particularly regarding supply chains, before their meeting.

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"We have real differences with Beijing when it comes to a fair and level economic playing field and protecting your intellectual property," he said. "We're going to continue to address them with smart policies and strong diplomacy."

Biden announced earlier Thursday his administration's new international labor strategy to ensure that workers' rights are not ignored.