Joe Biden- Xi Jinping Meet: Xi and Biden greeted each other with a handshake at a luxury resort hotel in Indonesia.

President Joe Biden and Chinese President Xi Jinping opened their first in-person meeting Monday since the U.S. president took office nearly two years ago

Xi and Biden greeted each other with a handshake at a luxury resort hotel in Indonesia, where they are attending the Group of 20 summit of large economies.

As they began their conversation, Biden said he and Xi have a “responsibility” to show that their nations can “manage our differences” and identify areas of mutual cooperation.

Xi added that he hoped the pair would “elevate the relationship” and that he was prepared to have a “candid and in-depth exchange of views” with Biden.

Both entered the highly anticipated meeting with bolstered political standing at home, amid increasing economic and security tensions between the two superpowers as they compete for global influence.

Democrats triumphantly held onto control of the U.S. Senate, with a chance to boost their ranks by one in a runoff election in Georgia next month

while Xi was awarded a third five-year term in October by the Communist Party's national congress, a break with tradition.

Biden said, “We just got to figure out where the red lines are and ... what are the most important things to each of us going into the next two years.”

Relations between the U.S. and China have grown more strained under successive American administrations, as economic, trade, human rights and security differences have come to the fore.