U.S. President Joe Biden said there is a possibility of meeting Chinese President Xi Jinping during the Asia Pacific Economic Cooperation (APEC) leaders' meeting scheduled in San Francisco next month.

During a press briefing at the White House Friday, when asked about the odds, Biden said there is no such meeting set up, but it is a possibility.

Pundits have long speculated the two could meet on the sidelines of the APEC gathering while the Washington Post reported Thursday that plans for a Biden-Xi summit in San Francisco were "pretty firm" and that preparations have begun.

The two leaders met face to face in Bali, Indonesia last November on the margins of the Group of 20 summit but the meeting merely confirmed their differences over Taiwan and other issues.

The two sides have been trying to mend relations which aggravated amid the spy balloon incident, with a number of top Washington officials including Secretary of State Antony Blinken paying visits to China.