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BEIJING (PTI): Reacting cautiously to India's test of Agni-V missile, China on Thursday said the two countries are not rivals and enjoy "sound" relations though the sources in the Chinese establishment feel that the launch can give rise to another round of arms race in the region.

"China has taken note of reports on India's missile launch. The two countries have sound relationship.

"During the (recently held) BRICS meeting (in Delhi) the leadership had consensus to take the relationship further and to push forward bilateral strategic cooperative partnership," Chinese Foreign Ministry spokesman Liu Weimin told a media briefing in Beijing when asked about the launch.

In Delhi, the diplomatic sources in the Chinese embassy said the "Agni-V launch can give rise to another round of arms race in this part of the world."

They were also critical of the media commentary on the successful launch of the nuclear capable 5,000 km-range Agni-V missile, saying it sounded provocative.

Asked whether China was concerned as most of the country would come under the Agni's range, Liu said in Beijing that "both the countries are emerging powers. We are not rivals. We are cooperative partners. We should cherish the hard earned momentum of cooperation."

To another question whether it would affect the regional stability, he said "we hope Asian countries can contribute to peace and stability."

However, China's state-run Global Times came out with a strong editorial criticising the launch, claiming that the Chinese nuclear power is more "stronger and reliable" and New Delhi has "no chance" to catch up.