Here is the quote, from Xi to 'ROTUS' via interpreter—
“Good to see you, Mr. President and your colleagues. It's the first time for us to meet virtually, although it's not as good as a face to face meeting, I'm very happy to see my old friend.”
President Xi said in the very beginning of his remarks, “Although we can’t see each other face to face, this is not bad, either. I feel very happy to see my old friend.” (lao peng you, which has a very special meaning in China’s diplomacy)
Biden nodded and said, “Thank you”.