London: China and Britain are "increasingly interdependent" and becoming "a community of shared interests," Chinese President Xi Jinping said while addressing both Houses of British Parliament.

In an 11-minute speech, Xi said he believes his five-day state visit to Britain, the first one in a decade by a Chinese head of state, will lift the bilateral ties to "a new height."

Xi, who arrived in London on Monday evening, told the parliamentarians: "Although my visit has just started, I am already deeply impressed by the vitality of China-UK relations and the profound friendship between our peoples."

More than 500 people listened to Xi's speech, including Lord Speaker Frances D'Souza of the House of Lords, Speaker John Bercow of the House of Commons, Prime Minister David Cameron and Labor leader Jeremy Corbyn.

China and Britain have led the way in a number of areas in terms of bilateral relations, said Xi, labeling Britain as the first major Western country to recognize new born People's Republic of China (PRC) and the first European Union (EU) member to establish a comprehensive strategic partnership with China.

There are currently 25 Confucius Institutes in Britain. While there are around 150,000 Chinese students studying in Britain, there are 6,000 British students studying in China.

According to a British report, China has become the largest source of overseas students in the European country.

"It is fair to say that China and Britain are increasingly interdependent and becoming a community of shared interests," said Xi. The president quoted Shakespeare as well as ancient Chinese proverbs, and reviewed the friendly exchanges between the two countries in history and modern days.

He cited how 24 Chinese naval cadets took part in the Normandy landings during World War II and received personal thanks from Winston Churchill for their gallantry, and how China helped save a British military medic earlier this year that contracted Ebola virus while volunteering in Sierra Leone.

Ties between the two nations had been driven by "mutual understanding, support and friendship," the president stressed.

At a state banquet of Scottish venison and turbot in Buckingham Palace, the heads of state exchanged gifts, with the Queen presenting Xi with a hand-tooled edition of Shakespeare’s sonnets. The Chinese president gave her two CD’s of music by his wife, a celebrated folk singer, Peng Liyuan.