Chinese Foreign Minister Wang Yi said on Saturday that mutual respect is the foundation if the new model of major-country relationship between China and the U.S. is a building.

"When the two sides truly respect each other's sovereignty, territorial integrity, social system, development path, core interests and major concerns, the foundation would be a solid one that can withstand storms, and truly grow into an edifice of win-win cooperation," Wang told a press conference on the sidelines of the annual session of the country's national legislature.

Wang described the meeting between President Xi Jinping and President Barack Obama at the Annenberg Retreat as the biggest highlight of China-U.S. relations last year, during which the two sides reached the consensus of building a new model of major-country relationship.

At the heart of the new model is no conflict, no confrontation, mutual respect and win-win cooperation, Wang reiterated.

"This is a positive strategic outlook the two countries showed to the world, and a solemn commitment made to the international community," Wang added.

2014 marks the 35th year since the establishment of diplomatic relations between China and the U.S..

Wang said as dialogues and cooperations between the two countries deepened, the need for cooperation far exceeds differences.

"Our experiences and lessons of these 35 years come down to one point: we need to respect each other," Wang said.

He said China is ready to work with the U.S. to uphold peace and stability in the Asia-Pacific region.

"In our view, the Asia-Pacific region should be the testing ground of our commitment to build a new model of relations, rather than a competitive arena," he added. Endi