Xi made his statement amid a major trade row with the United States that erupted as Washington introduced duties on imports from China and Beijing retaliated by imposing its own import duties on USA goods.
According to the AP, a USA official told reporters traveling with Pence that the vice president had had a "pull-aside" meeting with Chang, though he failed to provide any further details about the content or length of the meeting.
US Vice-President Mike Pence later said he was prepared to "more than double" the tariffs imposed on Chinese goods. Those comments helped USA stocks erase losses, as investors bet on whether Trump will impose even more tariffs on Chinese goods than the $250 billion already in place.
The spat prompted China, which has repeatedly accused the United States of protectionism, to file a complaint about U.S. trade practices with the WTO.
"The test for us now, for all of us is to stand up for the economic values we believe in".
"We are witnessing a rising tide of trade protectionism along with financial volatility in some emerging economies", said Morrison. But Pence stressed Saturday that the USA won't back off.
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"History has shown that confrontation - whether in the form of a cold war, hot war or trade war - will produce no winners", he said. It is a small country, small economy, but with huge potential.
"China has taken advantage of the United States for many, many years and those days are over", he told the meeting of world leaders. "The Intellectual Property Rights regime is designed to protect and encourage innovation not to create or widen the scientific and technological divide", Xi said.
He will also miss the Leaders' Retreat and the Leaders' Working Lunch.
He also announced the U.S. would join with Australia in the development of a new naval base. The project could take decades to complete, cost trillions and was harshly criticized by Pence and Australian Prime Minister Scott Morrison, who Trudeau will meet Sunday.
China and the United States have been locked in an escalating trade war since Trump won election in 2016. -China dispute "will hurt the region economically".
Speaking before Pence, Xi said there was no geopolitical agenda behind the Belt and Road plan, which was unveiled in 2013 and aims to bolster a sprawling network of land and sea links with Southeast Asia, Central Asia, the Middle East, Europe and Africa. He said the US was working to improve relations with Beijing, and pointed to Trump's upcoming meeting with Xi as an opportunity for progress.