Expressing its readiness to work with the new Indian government to promote bilateral ties, China on Saturday invoked ‘Panchasheel’ to improve relations with neighbours to settle disputes peacefully while firmly holding on to its core interests.

“China is ready to work with the new government in India in promoting continued progress of China-India relations,” State Councillor Yang Jiechi said while speaking at the World Peace Forum organised by Tsinghua University in Beijing.

Mr. Yang -- who is also China’s Special Representative for Sino-India boundary dispute, is the highest ranking diplomat in Chinese hierarchy, placed higher than the Foreign Minister.

As the two countries along with Myanmar poised to celebrate the 60th anniversary of the Panchasheel next week, Yang said Beijing will pursue ties with neighbours based on the five principles of peaceful coexistence as a guide.

“China committed to deepen cooperation with others on the basis of five principles of coexistence,” he said, adding that Beijing actively champions and implements the five principles and enhance cooperation with ASEAN (Association of South East Asian Nations) and SAARC (South Asian Association of Regional Cooperation).

“Adhering to a neighbourhood diplomacy concept featuring amity, sincerity, mutual benefit and inclusiveness, China wants to cooperate with its neighbours,” he said.

“China is committed to settle disputes through peaceful means but firm in upholding its sovereignty. We will not trade with our core interests or swallow the bitter fruit that undermine our sovereignty, security and development interests,” Mr. Yang said referring to China’s tensions with Japan and as well Vietnam and the Philippines over the South China Sea.

The Panchasheel commemorative events will be held here on June 28 and 29 in which Vice President Muhammad Hamid Ansari and Myanmar President U Thein Sein and Chinese President Xi Jinping will take part.

Mr. Ansari will begin his four-day visit to China on June 27.

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