Biden and Chinese West President are planning to hold a virtual meeting, sources say

China's Vice President Xi Jinping has left and met with US Vice President Joe Biden on February 14, 2012 at the Roosevelt Room in the White House in Washington, DC. Chip Somode Villa | Bloomberg | Getty Images President Joe Biden and Chinese leader Xi Jinping are expected to meet virtually by the end of this year, a senior US government official told CNBC's Kayla Tausche on Wednesday. Officials said the two leaders had reached a "principle agreement" on a virtual bilateral meeting. They added that it would be part of an effort to manage competition between the two countries….