A political solution should be found for the Crimean issue under a framework of law and order, a Chinese envoy to the UN said Wednesday, urging all parties concerned to exercise restraint.

"Respect for independence, sovereignty and territorial integrity of states has been the consistent position of China," Liu Jieyi, China's permanent representative to the United Nations, told a Security Council meeting on Ukraine.

"We shall continue to promote peace talks and play a constructive role for the political settlement of the Ukrainian crisis," Liu said, noting that "China supports UN Secretary- General Ban Ki-moon in his trip today to the countries concerned to conduct mediation."

Ban left New York on Wednesday afternoon for Russia and Ukraine as part of his diplomatic efforts to encourage all parties to resolve the current crisis peacefully.

"All parties concerned should exercise restraint and refrain from any action that might cause situation to further deteriorate, " he added. Liu also called on the international community to continue its efforts to defuse tension.

China has put forward its own proposal to address the Ukrainian crisis last Saturday, calling for the establishment of an international coordinating mechanism joined by all parties concerned as soon as possible to explore political possibilities.

It also urged that no actions should be taken to further exacerbate tension and held that the international financial institutions should start to explore various possibilities and assist Ukraine in maintaining its economic and financial stability.