China endorsed to the US its "dual-track" approach to deal with North Korea, promoting denuclearization and establishment of a peace mechanism on the peninsula, the Foreign Ministry said on Sunday.

During a telephone conversation on Saturday, Yang Jiechi, Political Bureau member and Director of the Office of the Foreign Affairs Commission of the CPC Central Committee, and US Secretary of State Mike Pompeo, exchanged views on the Korean Peninsula.

According to Foreign Ministry spokesperson, Geng Shuang, Yang highlighted China's stance on denuclearization, peace and stability on the peninsula and insisted on the need for dialogue.

"We hope various parties will give serious consideration to the dual-track approach proposed by China", consisting of "promoting denuclearization on the peninsula and establishing a peace mechanism," Geng said.

China urged all the parties to maintain a positive momentum to resolve the problem and to address "reasonable security concerns" in a balanced manner to achieve "the ultimate goal of peace and stability on the peninsula and in the region".

On May 2, the Chinese Foreign Minister, Wang Yi, met with his North Korean counterpart, Ri Yong-ho and the two ministers are believed to have exchanged opinions about the outcome of the historic inter-Korean summit.

On April 27, during the inter-Korean summit, the first between the leaders of the two Koreas in 11 years, North Korea's leader Kim Jong-un and South Korea's President Moon Jae-in agreed to work towards the "complete denuclearization" of the peninsula and to sign a treaty that formally ends the technically-ongoing Korean War (1950-1953).

Beijing, which has been supporting Pyongyang's denuclearization for a long time and whose People's Volunteer Army is a signatory to the Korean Armistice Agreement, has since shown its willingness to work with the two Koreas and the US in signing a peace treaty to replace that armistice.

Relations between China and North Korea strained in the wake of the toughening of sanctions by Beijing, have improved after Kim visited the Chinese capital to meet with President Xi Jinping in March.