US Vice-President Joe Biden has told his Chinese counterpart Xi Jinping that global economic stability rests on the US and China finding common ground.

Speaking on the first day of an official visit to China, Mr Biden said a close relationship with China was of the "utmost importance".

The trip comes amid mounting tension between the two over America's debt.

China is the US government's biggest foreign creditor and has been critical of America's "addiction to debt".

China's state-run media has been scathing over the recent political showdown in the US over how to increase the debt ceiling and avert a financial default.

China holds US$1 trillion of US debt, and has called on the country to do more to reduce its budget deficit.

The US also suffered a historic credit rating downgrade.