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.

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.