BOAO, Hainan - China and Vietnam should proceed from a long-term prospective and take effective measures to maintain the stable development of bilateral ties, Vice-Premier Li Keqiang said on Saturday.

Li said both sides should "appropriately handle the South China Sea issue" while meeting with Vietnamese Deputy Prime Minister Hoang Trung Hai, who is in China to attend the Boao Forum for Asia (BFA) annual conference, which will be held from April 1 to 3 in south China's Hainan province.

Li said the Chinese government attaches great importance to Sino-Vietnamese relations and is ready to work with the Vietnamese side to strengthen high-level exchanges and promote substantial cooperation.

The two countries are at an important developmental stage and share great potential for cooperation, Li said, adding that they should grasp this opportunity and further strengthen cooperation in trade, economics and culture.

China will support companies with good credit that wish to invest in Vietnam and hopes the Vietnamese side will facilitate the process and provide favorable policies, Li said.

Hoang Trung Hai spoke highly of the traditional friendship cultivated by previous Chinese and Vietnamese leaders and vowed to further deepen bilateral ties.

The BFA is a non-governmental and non-profit international organization established in 2001.