China's Foreign Minister Yang Jiechi said Saturday that sanctions are not the fundamental way of solving the Korean Peninsula nuclear issue.

"The Democratic People's Republic of Korea (DPRK) conducted its third nuclear test and tensions on the peninsula once again heightened. This is not something we want to see," Yang said at a press conference on the sidelines of the annual session of the National People's Congress, China's top legislature.

The DPRK announced last month that it "successfully" conducted its third underground nuclear test on Feb. 12. It conducted similar nuclear tests in 2006 and 2009.

The UN Security Council on Thursday passed resolution 2094, demanding that the DPRK not proceed with further nuclear tests, give up any nuclear arms program, and return to the nuclear Non-Proliferation Treaty (NPT).

The resolution also called for peaceful, diplomatic and political settlement of the current situation and a resumption of the six-party talks which began in 2003 but stalled in late 2008.

Yang said China holds that sanctions are not the end of the UN Security Council's actions, nor the fundamental way of solving the Korean Peninsula nuclear issue.

The only correct solution to the Korean Peninsula nuclear issue is to hold negotiations and resolve all parties' concerns in a comprehensive and balanced way, he said.

To properly handle the Korean Peninsula nuclear issue, safeguard peace and stability and prevent turmoil or even a conflict on the peninsula, serves the common interests of all relevant parties. They are also the common responsibilities of all these parties, Yang said.

"We call on all relevant parties to bear in mind the larger interest, stay calm, exercise restraint, and refrain from taking any moves that may further worsen the situation," Yang said.

The minister said China hopes that all parties do all things that will help ease the tension, sit to dialogue and engagement to foster mutual trust and work jointly to seek ways that can achieve the denuclearization of the Korean Peninsula and bring about enduring peace and stability on the peninsula and in northeast Asia.

The Chinese side is ready to continue to work with other relevant parties and the international community to this end, said Yang.