Chinese Ambassador to India Zhou Gang said in New Delhi Thursday that China attaches importance to its relations with India and is ready to establish a cooperative and constructive partnership into the future with India on the basis of the Five Principles of Peaceful Co-existence.

"It is China's consistent and rock-firm aspirations, not an expedient," Zhou, who was invited to deliver a speech on Sino- Indian relations by the India-China Journalists Friendship Association, told an audience of around 50 at the Press Club of India in downtown Delhi.

Zhou's speech was also part of a series of celebrations to mark the 50th anniversary of the establishment of diplomatic ties

between China and India, which falls on April 1. As the two biggest developing countries, China and India share similar or identical views on and extensive common interests in a series of major international and regional issues, noted Zhou.

"Therefore, it is not only necessary, but also possible for China and India to strengthen friendly relations and cooperation in the new century," he said. "This is in conformity with the fundamental interests of the people of the two countries, and also conducive to stability and development in Asia and the world at large."

He said that the Chinese side is pleased to see that the Sino- Indian relations, following temporary setbacks, have gradually returned onto the track of restoration and improvement since the beginning of last year. The Chinese side is also expecting the state visit to China by Indian President K.R. Narayanan, he added. "I firmly believe that our bilateral relations ... will enjoy broad prospects for further development," he said in conclusion. Responding to a reporter's question about China's position on the Kashmir issue, Zhou said that China hopes India and Pakistan can settle their disputes through peaceful means and negotiations and also in the spirit of the Simla Agreement and the Lahore Declaration.

The Chinese ambassador also briefed the audience on the development of New China over the past 50 years, especially in the past two decades of reform and opening-up, as well as China's view on the current global situation and China's foreign policy.