Update(10:41ET): Chinese state media has issued some initial statements to come out of the Friday Xi-Biden phone call, which the White House said is being held in the situation room after it started a few minutes after 9am.

State broadcaster CCTV cited Xi's initial words to Biden as stressing the relations between countries "shouldn't resort to arms" in reference to the Russia-Ukraine conflict. Xi reportedly said that "conflicts and confrontations are not in anyone's interest" and further that all countries must "value peace and safety". Xi said the crisis in Ukraine "isn't what we want to see."

And importantly, Xi said, "We should not only steer China-U.S. relations forward on the right track, but should also shoulder our international responsibilities." Biden is expected to convey US concerns over reports Beijing is ready to supply military equipment to Russia amid the Ukraine invasion, something which China has rejected.