ULAANBAATAR - Chinese Premier Li Keqiang on Saturday called for "smooth transition" of ties between Britain and the European Union (EU) in the wake of the former's vote last month to leave the bloc.

Speaking in an informal meeting during the 11th Asia-Europe Meeting (ASEM) Summit in Ulaanbaatar, Li said China is committed to maintaining and developing good relations with both the EU and Britain.

"China firmly supports the European integration, and (we) believe that the EU's development will not be arrested," he said, adding that China is pleased to see a prosperous and stable EU along with a prosperous and stable Britain.

On Britain-EU ties, he voiced hope for a "smooth transition" featuring openness and transparency so as to meet the external expectations for stability.

"We are wiling to enhance coordination with all parties concerned to manage risks, boost confidence, keep international capital markets stable, and speed up world economic recovery and growth," Li said.