The Vice President of the United States Joe Biden stated on Saturday that the rise of a peaceful and responsible China will contribute to global security and prosperity.

"I have said many times the rise of a peaceful and responsible China to contribute to global security and prosperity is in the interest of all nations," Biden told the diplomats and military officials here at the 49th Munich Security Conference.

Biden recollected the experience of him spending ten days with vice Chinese president Xi Jinping. "We know that they know where we stand. We fully understand each other," he said.

"When I visited China, I made it absolutely clear that United States does not view china with hostile intent, " Biden said. "We can cooperate and compete simultaneously," he added.

Biden believed that China need not to engage in military competition with the U.S. at a time when it is dealing with economic growth and other national needs issues. "I do not believe that it's their intention, and clearly it is not our intention," he said.

Importantly, the bottom line is to assure that this does not occur, Biden added.

When it comes to the prospect of the U.S.-Sino relationship, Biden said that there will be intense competition and occasional misunderstandings. However, the next generation of Americans will not look at China as their sworn enemy when they grow up, Biden assured.

"...a healthy competition from a growing, emerging China, which I will argue is in the interest of all of us," he added.

"So I believe we can, with a lot of hard work, and direct dialogue, avoid confrontation and manage what will be intense competition particularly in the economic field," he said.