In a speech Tuesday at a business conference, Xi made no direct mention of the dispute with President Donald Trump but pledged to open China's markets further and improve conditions for foreign companies.
Speaking on the eve of the Summit of the Americas that will bring leaders from across the western hemisphere to Peru this week, the ambassador Jia Guide downplayed reports that the US planned to use the event to urge Latin American leaders to work with Washington and not Beijing on trade.
Despite the fears of clashes and occasional exchanges of rhetoric, U.S. Rear Adm. Steve Koehler told reporters on board the Roosevelt that it has been smooth sailing so far, with U.S., Chinese and other forces engaging each other professionally.
Financial markets have reacted positively to Xi conciliatory speech, bidding up riskier assets such as stocks and commodity currencies like the Australian dollar.
Xi pledged a "new phase of opening up" in his keynote address Tuesday to the Boao Forum for Asia. "Going forward, we will reduce as soon as possible limits on foreign investment in these industries, automobiles in particular", Xi said.
The world's top two economies had edged towards an all-out trade war after Trump administration last week published a list of about 1,300 Chinese exports worth US$ 50 billion that could be hit by USA tariffs because of Beijing's alleged theft of intellectual property and technology.
Trump's absence from the Summit of the Americas will mark the first time a USA president has not been a part of the event since it began in 1994.
"It's a showcase of the capability of the USA armed forces not only by sea but also by air", Philippine army Lt. Gen. Rolando Bautista said after joining a tour of the 97,000-ton carrier. "This would be a victory for the world trading system and an important step away from the abyss of rising global protectionism".
But on Sunday he seemed to back off, tweeting that he saw an end to the dispute.
"Made in China 2025" identified 10 industries that the world's second-biggest economy wants to become globally competitive in by 2025, and globally dominant in during this century.
"Over the years, authorities have given us lots of guidance and support but I did not truly understand or recognise this in my heart", Zhang said. When the Trump administration outlined $50 billion of imports from China that would be subject to a 25 percent tariff, China quickly responded with its own list including soy beans and aircraft.
China has already been looking for alternative soy sources in places like Brazil, Canada and Russian Federation, and the tariffs could help reduce Chinese dependence on USA suppliers, says Beijing-based trade analyst Erlend Ek. If that fails, the Chinese government can ask for a ruling from a WTO panel of experts.
But trade penalties often spook foreign companies, making the business environment seem risky. It characterized those tariffs as a penalty for Beijing's forcing American companies to hand over technology to gain entry to China's market.
Meanwhile, a report showed on Friday that the United States economy created far fewer jobs than expected last month, dimming expectations of sharp interest rate rises by the Federal Reserve.
Xi gave no details on how those conditions might change, leaving it unclear whether that might mollify Washington.
Big tech companies like Apple and Microsoft, the market's leaders over the previous year, rose again.
However, China was not willing to accede to a key US demand-that it stop subsidizing the 10 high-tech industries targeted in the "Made in China 2025" program.
"It's not so much "risk on/risk off", as it is "trade war on/trade war off" and, at the moment, we're "trade-war off", London Capital Group's Jasper Lawler said.
"The commercial appetite of Chinese firms for United States investment expansion is stronger than ever, but regulatory hurdles are unlikely to fade in Beijing and will nearly surely increase in the U.S., casting uncertainty over the near-term outlook", the report said.
And the commitment appeared to respond to a Monday gripe from Trump, who tweeted "When a vehicle is sent to the United States from China, there is a Tariff to be paid of 2 1/2%".
"Up to now China and the U.S. have not carried out negotiation at any level on the trade frictions", he said, blaming the USA for not showing "sincerity" in its actions.
China will also seek faster progress toward joining the WTO Government Procurement Agreement, according to the president.
Chinese President Xi Jinping will visit the country in November, Presidential Spokesperson Harry Roque announced Wednesday.
"This is a problem caused by China, not a problem caused by President Trump".
"We will not bully our neighbours", the president said.