The Wall Street Journal said Trump and Xi discussed face-to-face talks through agents, and among the options discussed were inviting Xi to the U.S. after taking office.
The Chinese embassy in Washington, D.C., did not immediately offer a position in this regard, and Trump's aides said no decision had been made yet.
Rumors of Trump's visit to China come amid the possibility of a "top-down" summit diplomacy to reset ever-deteriorating U.S.-China relations.
Trump said he spoke to President Xi by phone on the 17th and talked about pending issues such as the U.S.-China trade balance and drug regulation, but it is not clear if he mentioned visiting China at the time.
However, the Chinese side said Trump "looks forward to meeting with President Xi as soon as possible" on the phone.
Trump invited Xi to his inauguration, but the Chinese side will send Han Jeong as Xi's special envoy instead.
China is expected to be wary of Trump's dialogue gestures or delay talks amid mounting pressure on the economy due to a slump in real estate, currency depreciation and foreign capital flight.
Moreover, China needs to prevent Trump's avowed additional tariffs on China through negotiations or at least delay its introduction.
Sources familiar with the Chinese government's decision-making process predicted that a summit between Trump and Xi would significantly help initiate such negotiations.
Meanwhile, sources said Trump also mentioned the possibility of visiting India to his aides.
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