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BEIJING, June 30-- Indian Vice President Mohammad Hamid Ansari said on Monday that China and India's common interests outweigh their differences.

Ansari made the remarks when he delivered a speech at the Chinese Academy of Social Sciences, a government think tank.

He said that strengthening ties with China is one of the priorities of India's foreign policy and there is consensus across the political spectrum on this issue.

India-China relations today have transcended the bilateral scope and acquired regional and global significance, Ansari said, adding that both countries view each other as partners for mutual benefit, not as rivals or competitors.

China and India together account for about 37 percent of world's population and are two of the largest developing countries in the world, the Indian vice president noted.

According to Ansari, they have common interests in several areas on global issues, and hold similar positions on matters such as climate change, the Doha round, reform of international financial institutions and energy security.

"Our primary interest is to pay attention to the task of development," he said, stressing that both countries need a peaceful environment to bring prosperity and stability to Asia and the world.

Invited by Chinese Vice President Li Yuanchao, Ansari is paying an official visit to China from June 26 to 30. He attended commemorative activities for the 60th anniversary of the creation of the Five Principles of Peaceful Coexistence at the weekend.

"These principles enunciate the basic guidelines for the establishment of a new international political and economic order," Ansari said.