The latest UN resolution on North Korea's satellite launch is generally balanced following consultations by all parties concerned, a senior Chinese diplomat said during a UN conference on Tuesday.

The UN Security Council (UNSC) unanimously adopted a resolution condemning the satellite launch by the Democratic People's Republic of Korea (DPRK) on Dec. 12, 2012.

Li Baodong, China's permanent representative to the UN, said "the resolution is an outcome of many rounds of consultations by all parties concerned, which not only shows the stance of the international community on the DPRK's satellite launch, but also delivers some positive information, including calling for a peaceful solution to the (Korean) Peninsula issue through dialogue and negotiation as well as the resumption of the six-party talks."

According to the Chinese envoy, the latest resolution, which requires the DPRK to comply with all relevant resolutions adopted by the UN Security Council and not to use ballistic missile technology for any launch, is "generally balanced."

Li pointed out that China holds a "clear and consistent" stance on the issue of the DPRK's satellite launch, adding that the Security Council's response should be "prudent and moderate," be conducive to peace and stability of the Korean Peninsula, and help avoid the progressive escalation of tensions.

"Based on this principle, China has participated in a very constructive manner in the UNSC consultations and just voted in favor of the latest resolution," he noted.

Li said that in the original draft of the Tuesday resolution, there were some elements and measures that in China's view would jeopardize the normal trade between the DPRK and other countries, and would harm the livelihood of the people in the DPRK.

"In the resolution just adopted, these elements and measures are no longer there," he stressed.

Li also said that the situation on the Korean Peninsula is at a crossroads, and that "there are opportunities and there are challenges."

"We hope all parties concerned will seek the opportunities to address their concerns in a balanced manner through dialogue and negotiation and the resumption of the six-party talks," said Li.

In response to questions from journalists, the Chinese diplomat said that the most pressing task of the moment for the international community is to help avoid the progressive escalation of tensions.

"Sanctions and resolutions alone do not work," he said. " Resolutions must be completed and supplemented by diplomatic efforts."

On Dec. 12, the DPRK's official KCNA news agency confirmed that the country launched and orbited an earth observation satellite.

According to the agency, a Unha-3 rocket carrying the second version of the Kwangmyongsong-3 satellite blasted off from the Sohae Space Center in Cholsan County, North Phyongan Province at 9: 49 a.m. local time (0049 GMT). The satellite entered its preset orbit 9 minutes and 27 seconds after the liftoff.

After the launch, the DPRK has defended its right to launch a satellite for peaceful and scientific purposes.

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