In a statement that could signal a turn for the world’s two largest economies, Chinese President Xi Jinping extended a hand of partnership to the United States, expressing a desire for friendship, not rivalry.

With China’s economy sinking deeper into a funk last month, Xi Jinping finally decided something had to be done.After resisting calls to take forceful steps to prop up the economy for two years, Xi relented in late September and ordered a barrage of interest-rate cuts and other measures to put a floor under growth.

Chinese President Xi Jinping stated that a successful partnership between China and the United States allows both countries to promote each other's development rather than hinder it, according to Reuters.