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US President Donald Trump hailed “extremely positive” talks with his Chinese counterpart Xi Jinping on Thursday, in remarks made at an opulent banquet in Beijing attended by top leaders and American business figures, including Elon Musk and Tim Cook.

His trip to Beijing is the first by a US president in nearly a decade, with the grand reception belying a host of unresolved trade and geopolitical tensions between the two countries.

The two leaders rounded off the first full day of a closely watched summit in the Chinese capital with the banquet in a red-carpeted dining room in the lavish Great Hall of the People, abutting Tiananmen Square.

“There are those who say this may be the biggest summit ever,” Trump told Xi after a ceremony that featured an honour guard and throngs of children waving flowers and flags at the Great Hall.