Beijing hopes the Hanoi summit between Pyongyang and Washington will take an important step forward to achieve the denuclearization and establishment of a peace mechanism on the Korean Peninsula, State Councilor and Foreign Minister Wang Yi said on Wednesday.

China expects the meeting between leaders of the Democratic People's Republic of Korea and the United States will continue moving forward in the direction of the "dual-track" approach, Wang said at a press conference after the 16th meeting of the foreign ministers of China, Russia and India in Wuzhen, East China's Zhejiang province.

US President Donald Trump and top leader of the DPRK Kim Jong-un are set to meet in the Vietnamese capital of Hanoi for their second summit. They are expected to meet first on Wednesday night and have dinner together, and then hold discussion on Thursday, joined by their respective delegates.

China appreciated the leaders from the two countries making unremitting efforts to promote a political solution to the nuclear issue on the Korean Peninsula, Wang said.

After the Singapore summit, the "suspension for suspension" initiative has been realized and the peninsula has seen the light of peace, Wang said, adding that he expects the Hanoi summit will consolidate the hard-won situation.

Decades of ups and downs on the peninsula have showed that dialogue and negotiation are the ways to resolve the issue and meeting each other half way will ensure long term stability, Wang said.

China hopes the DPRK and the US will show sincerity and goodwill, he said, adding that China will continue safeguarding peace and stability, promoting dialogue and contributing to lasting peace on the peninsula.