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China urges the U.S. side to honor its commitment, abide by the one-China principle and the provisions of the three China-U.S. joint communiques, immediately withdraw the aforementioned arms sales to Taiwan, and stop all forms of military contact with Taiwan so as to avoid further damage to the relations between the two countries and their armed forces, he said.

Although facing downward economic pressures, China has strived to maintain financial stability, without saddling the economy with excessive money supply. The country has maintained stability of its monetary policy, with timely and pre-emptive fine-tuning, and kept the yuan exchange rate basically stable at a reasonable and balanced level.

The two countries have established a comprehensive strategic partnership and their cooperation is expected to further create win-win results in the progress of globalization, he added.

"There is a need to stick to a political solution. China has always believed that the Libyan issue must be settled through political means," Ma Zhaoxu, China's permanent representative to the United Nations, told the Security Council.

It also stressed the need for joint efforts to promote collective security and to build a shared future of prosperity for all, said Tran Dac Loi, also former deputy head of the Commission for External Relations of the Central Committee of the Communist Party of Vietnam.