US Rear Admiral John Kirby on Friday said the armed Chinese warplane came close to the American P-8 Poseidon surveillance aircraft on three occasions, at times less than 30 feet (nine metres) away, in what he called a "very dangerous" intercept.
China's defence ministry spokesman Yang Yujun called the allegations "totally groundless" in a statement cited by the official news agency Xinhua.
The incident took place 220 kilometres (135 miles) off China's Hainan island, over an area the US insists is international waters but Beijing regards as part of its territory.
The Global Times -- which is owned by the Communist Party's mouthpiece, the People's Daily, and often takes a nationalist tone -- lashed out in an editorial at US surveillance "in the coastal waters and airspace of China".
"Such reconnaissance is posing a threat to China's core security interests, which could be treated as an act of hostility," it said.
"It would be a life and death fight between China and the US if the collisions in the South China Sea became confrontations concerning both sides' core interests," it warned.
The official China Daily newspaper accused the US of undermining mutual trust, saying that Washington's concerns over China's rise were a "psychological need to create an enemy to make up for its sense of loss after the end of the Cold War".
US naval and airborne reconnaissance missions "do nothing to convince the Chinese authorities and the Chinese people that the US is sincere in claiming it wants to build mutual trust with China," the paper said in an editorial.
In the 2001 collision, a Chinese pilot was killed and the American aircraft was forced to make an emergency landing on Hainan.
Chinese authorities initially detained its 24-member crew for more than a week until both governments worked out a face-saving deal for their release.
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