BEIJING, March 11  -- China has been unwavering in its commitment to seeing the denuclearization of the Korean Peninsula, and has continued to champion the resumption of the Six-Party Talks as the only way to ensure peace. A win-win outcome can only be reached through cooperation of all related parties.

China on Thursday urged all sides concerned to prevent any further escalation of the tension.

"Safeguarding peace and stability on the peninsula is in the common interests of all sides," said Foreign Minister Wang Yi.

China firmly opposes any thing that could fan tension on the peninsula and supports a political and diplomatic solution.

On the one hand, China has called upon the Democratic People's Republic of Korea (DPRK) to accept resolutions by the UN Security Council and cease destabilizing acts such as Thursday's missile launch.

On the other hand, China has called for all parties to return to the negotiating table.

China has proposed a "parallel-track approach" to address the issue, including the denuclearization of the Korean Peninsula and for the Korean armistice to be replaced with a peace treaty.

Given the current tension, flexible dialog such as three- or four-party talks that might facilitate gradual improvement toward the Six-Party Talks are also fully welcomed by China.

As its largest neighbor, China will not sit by and allow the stability of the Korean Peninsula to be upset, nor will it tolerate damage to China's security interests.

The threat of force could result in a coldwar-like mentality -- where no one trusts each other.

"Resolution 2270 not just sanctions; it also reiterates support for the Six-Party Talks and asks the parties to refrain from taking any actions that might aggravate tensions", Wang said adding that the sanctions were necessary, as maintaining stability is the pressing priority and only negotiation can lead to a fundamental solution.

The Six-Party Talks, involving China, the DPRK, the United States, the Republic of Korea, Russia and Japan, was designed to facilitate a peaceful solution to nuclear non-proliferation on the Korean Peninsula.

The talks were suspended in late 2008.

Reports on Thursday said the DPRK fired two short-range ballistic missiles days after South Korea and the United States started their largest ever military exercises.

The UN Security Council unanimously adopted a resolution on the DPRK on March 2 that, in reality, cuts off the country from any means to develop its nuclear and missile programs.