As China and Mongolia celebrated the 75th anniversary of their diplomatic ties, the neighboring countries have committed to further bolster cooperation across the board and making greater new contributions to peace and prosperity in the region and beyond.

Speaking at a reception held in Beijing on Friday, Li Hongzhong, vice-chairman of the National People's Congress Standing Committee, said China and Mongolia, regardless of international vicissitude, have always adhered to the direction of mutual benefit and friendship, bringing tangible benefits to their peoples.

Mongolia is one of the first countries to forge diplomatic ties with China and their bilateral relationship has been upgraded to a comprehensive strategic partnership.

It is in the long-term and fundamental interest of the two countries to become good neighbors, good friends and good partners, Li said.

China is ready to work with Mongolia to advance hand in hand on the path of modernization for win-win cooperation under the strategic guidance of the two heads of state, deepen the alignment of their development strategies and jointly build a community with a shared future for both countries, he added.

Mongolian Prime Minister Luvsannamsrai Oyun-Erdene lauded bilateral ties, as a model for relations between neighboring countries, saying it has reached unprecedented heights in recent years.

According to China's Foreign Ministry, China has become Mongolia's largest trading partner and investor for many consecutive years. Last year, bilateral trade volume reached $16.59 billion with a year-on-year increase of 36.1 percent.

Mongolia and China enjoy a traditional friendship featuring mutual respect and trust, upholding shared values and harboring the willingness to expand cooperation for mutual benefits, Oyun-Erdene said.

Currently, the prime minister said the two countries are strengthening policy alignment within relevant frameworks such as Mongolia's "Vision 2050" long-term development policy and the China-proposed Belt and Road Initiative.

Mongolia is willing to carry forward their traditional friendship while deepening exchanges and cooperation in various fields with China to writing a new chapter of bilateral ties, he added.