Speaking at a press conference, Lin, chairman of government-backed investment fund Taiwania Capital and also a former economy minister, said that while Taiwan had bilateral talks with many APEC members, with Xi there was just a greeting gesture across the room where leaders were gathered.

At the APEC summit in Lima, Chinese President Xi Jinping cautioned against protectionism as he championed economic globalization. With Donald Trump's return to the US presidency, Xi's remarks signal China's intent to counter potential trade barriers.

China's President Xi Jinping told his U.S. counterpart Joe Biden that the issues of Taiwan, democracy, human rights and rights to development are "red lines" for China and not to be challenged, the official state media Xinhua said on Sunday.

Chinese leader Xi Jinping on Saturday told President Biden that Beijing remains committed to stable relations with the U.S., an expression of hope for continuity in ties before Donald Trump returns to the Oval Office in the midst of promises to squeeze Beijing over trade.

In their final meeting, China's leader Xi Jinping told President Biden that his nation was "ready to work with a new administration."