Chinese President Xi Jinping and US President Donald Trump.(Photo/CGTN)

Chinese President Xi Jinping and his US counterpart Donald Trump on Saturday discussed bilateral ties and the situation on the Korean Peninsula on phone.

China hopes that the parties concerned will exercise restraint and refrain from taking any action that will aggravate tensions on the peninsula, Xi said.

Xi stressed that China and the US share the same interests on the denuclearization and peace on the Korean Peninsula.

The phone conversation came amid rising tensions as the Democratic People's Republic of Korea (DPRK) on Wednesday said it is considering missile strikes in the waters off Guam in the wake of the latest UN decision to impose tougher economic sanctions against it.

During the phone call, the two presidents also talked about bilateral ties, pledging close contact through various means to promptly exchange views on major issues of common concern.

Trump said his country is willing to maintain communication and coordination with China on major international and regional issues.