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xml files are designed for transferring data between applications these text files are small and readable by many different applications they do not contain actual media instead providing a pointer to your media if you open an xml file in the same application that created it virtually all your project data should be safe if you are moving xml files between different applications all of your media files edits and transitions should safely transfer while most titles and effects will not long story short xml files are the best way to transfer your editing timelines between different pieces of software this is useful if you want to color grade your premiere pro edit in davinci resolve for example or if you need to collaborate with another editor heres an example of how you can export your sequence in an xml file in your editor of your choice for example docHub premiere go to file export and then select final cut pro xml choose your path and voila now lets open this xml on another editor