Jack Joseph Perry, chairman of the 48 Group Club of the United Kingdom, said the Five Principles of Peaceful Coexistence is a right vision for paving the way for a safe and prosperous world and has become more appealing rather than obsolete.

The philosophy of peaceful coexistence has been a Chinese approach to global relations since the principles were formally initiated by Chinese leaders in 1954, he said at a commemorative event marking the 70th anniversary of the Five Principles of Peaceful Coexistence in Beijing.

"Peaceful coexistence is essential for the nations, regardless of their wealth, to work together towards the future," he added.

Deeming the vision of building a community with a shared future for mankind as a "wonderful" idea, he said: "The more we connect, share and respect with each other, the more we go harmoniously forward together."

He noted that China has proposed many initiatives, such as the Global Development Initiative and the Global Security Initiative, which he said are very "forward-thinking and necessary".

"I believe that opening up and continuing to offer platforms and initiatives to the world is one of the reasons why China is one of the leaders in the world," he added.

"China is now a leader in innovation exemplified by its high-speed rail network, which counts for 70 percent of the world's total. We must see the opportunity to learn from China's advancements and collaborate with its visionary leaders in commerce and technology," he said.

He vowed that he would carry on the legacies of older generations of "icebreakers" and build bridges of communication to promote shared growth and mutual understanding between the West and China.

The 48 Group Club, an independent business network that was established by Perry's grandfather, Jack Perry Senior, and a group of like-minded businessmen in 1954, aims to promote equal and mutually beneficial trade between the UK and China.

They made an ice-breaking visit to China in 1953 during which they signed a number of trade agreements, breaking a trade embargo that Western countries had placed on China.

"My grandfather Jack Perry Senior was called an 'icebreaker' and a pioneer because he was among the first ones to come to China, go over the blockade and say 'we want to work with you'," he said, adding his grandfather's China visit laid "a foundation for relations based on mutual respect and understanding".

Perry also said Stephen Perry, who is his father, also dedicated his life to deepening understanding of China and witnessed China's great transformation.

"I will strive to understand China without prejudice and learn from the example set by my grandfather and father," he added.