The two-day negotiations between the Democratic People's Republic of Korea (DRPK) and the United States are a "positive sign" of improvement in bilateral relations, said a senior Chinese diplomat.

Jiang Yu, spokesperson for the Chinese delegation to the six-party talks on the Korean Peninsula, made the remarks at a press conference after Wednesday's meetings. All parties held bilateral talks in the morning, and there was a meeting of chief delegates in the afternoon.

The DPRK and the United States continued their discussions on financial sanctions at the DRPK embassy Wednesday morning.

Jiang said this is a "good start", and China hopes they can resolve the issue through bilateral consultations, bearing in mind the overall goal of denuclearizing the Korean Peninsula.

President of the DPRK's Foreign Trade Bank O Kwang Chol held three-hour talks with Daniel Glaser, the U.S. Treasury Department's deputy assistant secretary for terrorist financing and financial crimes, at the U.S. Embassy Tuesday afternoon.

Chief negotiators from the two sides, Christoper Hill and Kim Kye-gwan also held bilateral negotiations.

Jiang said the three days of meetings at this round of talks were gradually expanding consensus and creating a clearer focus.

She said all the parties have presented their positions and concerns, and had close contacts and consultations.

They need to take into consideration each other's concerns and interests, so as to seek a common interest that they share, Jiang noted.

Foreign Minister Li Zhaoxing held a meeting with chief negotiators of the six parties Wednesday afternoon, during which he said a new consensus has been reached in the talks thanks to all parties' strenuous efforts.

The fresh consensus included the fact that all parties reiterated the need to implement the September joint statement in support of a peaceful resolution of the nuclear issue on the Korean Peninsula through dialogue, and the adherence to a common target of a nuclear-free Korean Peninsula.

According to the terms of the joint statement, the DPRK agreed to abandon its nuclear program in exchange for economic aid and security guarantees.

Jiang said the question of working groups was still under discussion.

She told the reporters that the talks would continue on Thursday and Friday but did not say when they would end.

Source: Xinhua