The correct attitude for developing China-U.S. relations is mutual respect, which is also the prerequisite for exchanges between the two countries, Chinese Foreign Minister Wang Yi said on Friday.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks while answering questions at the "China in the World" event at the ongoing Munich Security Conference.

In response to questions on China-U.S. ties, Wang said China's approach is based on the three principles of mutual respect, peaceful coexistence and win-win cooperation.

China and the United States must not engage in conflict, otherwise the world will suffer, he said, before calling for efforts to strengthen dialogue, enhance understanding and build trust.

He said the two countries should work together to address global challenges, as it is an international responsibility that China and the United States should bear.

China is ready to build stable, sound and sustainable relations with the U.S., and find the right way to get along, Wang said. He expressed hope that the U.S. can meet China halfway.

However, if the U.S. insists on suppressing and containing China, China will resolutely fight back against the unilateral bullying of the U.S., and safeguard China's national sovereignty, national dignity and legitimate development rights, he said.