U.S. Ambassador to China Terry Branstad on Monday said that the upcoming Xi-Trump meeting was "very historic and significant."

"There are a lot of excitement and feelings that this could be very historic and significant for Trump-Xi meeting here," Branstad said during a group interview in Beijing.

U.S. President Donald Trump's upcoming state visit to China, from Nov. 8 to 10, will see his third meeting with Chinese President Xi Jinping.

"I think the chemistry between the two leaders is good and that bodes well. If the two leaders can get along well and work out some of the differences, hopefully that can help the rest of us to work things out well," he said.

Hailing the frequent interaction between Xi and Trump, he said that meetings between the two leaders were helpful in solving "thorny issues."

On top of Trump's agenda during the trip will be the Korean Peninsula issue and bilateral trade, according to Branstad.

There will be a delegation of U.S. business accompanying Trump, and a number of MOUs are expected to be signed, covering various sectors including manufacturing and energy, according to the ambassador.

"We want to advance economic cooperation and prosperity in America as well as in China. We want to build on the progress and success that we already had to improve the relationship between our two countries," he said.