The situation on the Korean Peninsula remains precarious since it narrowly avoided war when the Republic of Korea (ROK) conducted live-fire artillery drills on Yeonpyeong Island on Monday.

The Democratic People's Republic of Korea (DPRK) had previously vowed to fight back. But it showed restraint and did not retaliate, referring to the ROK's move as "not worth reacting to".

A similar situation on the same island on Nov 23 triggered the exchange of artillery between the two Koreas and escalated tensions on the Peninsula to the highest level in decades.

After intense diplomacy conducted by several countries, including China, to defuse the tension, Pyongyang this week agreed to a series of actions, including reengaging the International Atomic Energy Agency (IAEA). This is a positive step in building momentum for bringing concerned parties to the negotiating table.

Compared to its stern attitude before, Pyongyang has certainly showed more flexibility and, to some extent, compromise. The cautious attitude it recently adopted will win credit in the international arena. It is hoped Pyongyang will stick to this track and make due contributions to peace and stability.

Because the Peninsula's situation is complicated and sensitive, concerned parties should adopt responsible attitudes and always judge their actions according to whether they are conducive to the region's peace and stability. Any reckless move could easily ignite the powder keg and jeopardize millions of people.

Shortly after tensions on the Peninsula had shown signs of abating, Seoul announced on Wednesday a three-day land and sea military exercise. The exercise includes its largest-ever live-fire drill near the DPRK. This could only ratchet up regional tensions again.

Such a show of force is not a solution to the two Koreas' conflict. No one has the right to cause bloodshed between the people living in the Peninsula's north and south.

History has proven dialogues and negotiations are always the only viable options for resolving disputes. China has always believed peace and stability must be maintained on the Peninsula. This is the goal for which all involved parties should strive.

Since the current round of tension began, China has played a constructive role and intensified diplomatic efforts with relevant parties to disperse the shadow of war on the Peninsula. It sticks to a neutral and impartial position, and does not side with any country in the conflict.

It has suggested emergency consultations between the chief negotiators of the Six-Party Talks, a Beijing-initiated platform to seek the Korean Peninsula's denuclearization.

The current situation highlights the necessity and urgency of emergency consultations among the heads of the six delegations. Preserving peace and stability on the Peninsula is in the interests of all.

Concerned parties should resolve their concerns in a balanced way through the Six-Party Talks' framework and in accordance with the Sept 19 Joint Statement inked in 2005.