Xi and Ma shook hands earlier on Saturday afternoon in the first meeting between leaders of the two sides of the Straits since 1949, opening up a historic page in cross-Straits relations.

Addressing the meeting in his opening remarks, Ma said the two sides should consolidate the consensus of the one-China principle and make contributions to the revival of the Chinese nation.

The 1992 Consensus with the endorsement of the one-China principle is the common political foundation for advancing the peaceful development of the cross-Straits ties, Ma said.

"We should consolidate the 1992 Consensus, and maintain the peaceful status quo," Ma said in one of his five-point proposals.

Ma suggested that the two sides reduce hostility and resolve disputes in peaceful means, while expanding cross-Straits exchanges in a bid to achieve win-win outcomes.

Heads of Taiwan's mainland affairs body and the Chinese mainland's Taiwan affairs organ should set up a hotline to deal with emergency and important issues, Ma suggested.

Ma added that the two sides should cooperate and be committed to the revival of the Chinese nation, as the peoples of the both sides across the Straits are all Chinese descendants.

"The cross-Straits relations are at the most peaceful and stable period since 1949," Ma noted.

He cited that in the past seven years the two sides have signed a total of 23 agreements, with over 40,000 students exchanging across the Straits, over 8 million cross-Straits tourists annually and an annual trade volume worth over $170 billion.