Indian and Chinese national flags flutter side by side on the lamp posts at the Raisina Hills in New Delhi, September 16, 2014. (File photo: Xinhua)

Chinese State Councilor and Foreign Minister Wang Yi spoke to Indian National Security Advisor Ajit Doval on the phone on Sunday evening, and the two sides agreed to avoid further escalation in the Galwan Valley, China's Foreign Ministry said in a statement on Monday.

This year marks the 70th anniversary of the diplomatic relationship between China and India. Wang said both sides should value the development in the bilateral relations.

The right and wrong of the severe situation in the Galwan Valley is very clear, Wang said, referring to the deadly clashes on June 15.

China will firmly safeguard its territorial integrity and sovereignty and defend the peace and stability along the border, he continued.

The top priorities for both countries are economic growth and national rejuvenation, Wang stressed, adding that the two sides share long-term strategic interests.

Wang called on the Indian side to work with China to de-escalate tension.

Wang said the two sides should always adhere to a strategic judgment that they do not pose a threat but rather provide growth opportunities to each other. The two sides should pay high attention to the complex situation at the moment and work together to overcome it as soon as possible.

Wang also said China hopes the Indian government would guide public opinion and maintain and improve normal exchanges and cooperation between the two countries.

The statement said Wang and Doval had an in-depth exchange on the border issue and reached a four-point consensus.

The two countries acknowledge that maintaining peace and stability along the border is vital to the bilateral relations, and the two sides agreed to avoid escalating "disagreement," it said.

Secondly, they agreed to abide by recent agreements made by two sides and to work together to ease tension.

Thirdly, they agreed to strengthen negotiation through diplomatic channels in order to build trust and avoid future clashes.

Fourthly, the two sides agreed to speed up implementing the agreements reached at military commander-level meetings and to finish the "disengagement" of both countries' troops as soon as possible.