Chinese State Councilor Dai Bingguo said?in Hanoi?on Tuesday that the China-Vietnam ties should be viewed from a long-term perspective and handled from a strategic height under the new circumstances.

China's State Councilor Dai Bingguo (R) and Vietnamese Deputy Prime Minister Nguyen Thien Nhan shake hands prior to the fifth meeting of the China-Vietnam steering committee in Hanoi, Vietnam, Sept. 6, 2011. The fifth meeting of the China-Vietnam steering committee was held Tuesday in Hanoi. The steering committee is a platform for dialogue between high-level officials of the two countries. [Li Qing/Xinhua]

"The China-Vietnam relations should be developed on the basis of equality, mutual respect and common development," Dai said during the fifth meeting of the China-Vietnam steering committee on cooperation.

Dai said China-Vietnam bilateral relations witness comprehensive and profound development during the past two decades through joint efforts, which serves the interests of both peoples and regional peace, stability and prosperity. The steering committee on cooperation has played an important role on political trust and practical cooperation for both sides.

To promote China-Vietnam relations on the right track, both sides should consolidate traditional friendship, deepen mutually beneficial cooperation and cultural exchanges, enhance mutual understanding, as well as attach great importance to properly handle sensitive issues in bilateral relations, he added.

Vietnamese Deputy Prime Minister Nguyen Thien Nhan, who co- chaired the meeting with Dai, said his country sets priority to develop good-neighborly relations of friendship with China. Vietnam will make concerted efforts with the Chinese side to consolidate the traditional friendship, enhance high-level exchanges, strengthen cooperation in various fields, as well as solve existing problems, in order to promote the Vietnam-China comprehensive strategic partnership to a new stage.

At the meeting, the two sides also discussed further cooperation plans for the next phase, agreed to boost coordination in regional affairs and to promote China-ASEAN relations. Both sides also agreed to properly handle their dispute over the South China Sea through deep consultation to maintain friendly relations of the two countries.

The committee, which is designed to coordinate China-Vietnam cooperation in various fields and address major issues in their cooperation, will meet once a year in the two countries alternatively. The previous fourth meeting was held in Beijing in July 2010.