Describing the pace of change in China as truly astounding and outstanding, Congress president Sonia Gandhi [Images] on Saturday said that India had much to learn from the way the Communist nation had approached economic reforms and liberalisation.

In an address to the School of Public Policy and Management of Tsinghua University organised by the International Department of the ruling Communist Party of China, the United Progressive Alliance chairperson also spoke of pragmatism and mutual self-interest as a sound basis for the future development of Sino-India relations.

Gandhi said the world today recognised the reality of an Asian renaissance and the re-emergence of China and India. She said that the two countries must work and prosper together as the world is big enough to accommodate the growth and aspirations of both nations.

"People in India admire the tremendous progress China has made since it began its economic reforms in 1978," Gandhi said on the third day of her five-day China visit at the invitation of Chinese President and CPC General Secretary Hu Jintao.

The pace of change in China was "truly astounding and outstanding," the UPA chairperson said, adding that the two economies had a great deal in common.

"I believe we have much to learn from the way that you have approached economic reforms and liberalization," she said.

China has shown the world how much could be achieved with pragmatism, clarity of vision and determination of effort, Gandhi said, while pointing out that India too had been evolving its economic policies in response to "emerging circumstances and challenges."

India's endeavours were showing results with economic growth at record levels, Gandhi told the university, which was addressed by her late husband and former Prime Minister Rajiv Gandhi 19 years ago.

"We are not merely catching up with the developed world in the coming decades, China and India will be the largest and third largest respectively among the global economies," she said.

As in China, India focused on balanced economic development to ensure growth with social welfare and justice, she said.Noting that both China and India seek an open and inclusive world order based on the principles of 'Panchsheel', Gandhi said pragmatism and mutual self-interest offered "a sound basis for the future development of our relationship."

"We may well have different views and different perspectives on both bilateral and global issues. That is only natural. I have no doubt, however, that there is no problem that cannot be sorted out through free and frank dialogue and discussion," she said.

Observing that much had changed in the bilateral relationship, Gandhi said both countries already had a definite perspective with which to chart the future course of their relationship.

"We must be guided by the vision that dialogue and partnership must be pursued with consistency and focused effort," she said, adding there was peace and tranquility on the border and outstanding issues relating to the boundary question were being discussed in a comprehensive manner by the Special Representatives of the two countries.

Referring to the new ways being explored by both India and China to give an even greater impetus to commercial ties, Gandhi said more than trade it would be investment that would bring the two countries together.

Underlining that the Sino-India ties went beyond commerce, she said it was a relationship between two civilisations rather than two trading partners or two nations.

"This is the framework that we need to revive... I would say beyond the economic, we must strengthen our cultural ties," said Gandhi.

Gandhi also said educational institutions, media, tourism industries and business sectors of both nations should intensify their efforts to bridge the information gap "so that we no longer retain stereotyped images of each other."

She called for more frequent interactions between the scholars and intellectuals and taking up joint projects "which can become visible and powerful symbols" of bilateral cooperation." "I see only one possibility between our two countries - that of co-existence with cooperation," Gandhi said.