June 28 (UPI) -- China welcomed news of the planned U.S.-Russia summit and credited the two countries for engaging in talks that will support "world peace."
Chinese foreign ministry spokesman Lu Kang said at a regular news briefing on Thursday Beijing endorses the decision, South Korean news agency Yonhap reported.
"Not only are Russia and the United States both permanent members of the United Nations Security Council, they have significant influence in the international community," Lu said. "Both countries have an important responsibility in the areas of international peace and security."
"Improvement of relations between Russia and the United States, and improvements in communications benefit the international community, peace. They respond to global challenges."
The Kremlin said Wednesday that Russian President Vladimir Putin and U.S. President Donald Trump agreed to hold a summit, the first formal talks between the two leaders since Trump assumed office.
Chinese businesses near the North Korea border are anticipating the resumption of regular activity, according to state media.
The Global Times reported Wednesday business ties are rebuilding in northeast China.
The Chinese report quoted a general manager at a seafood company, Wang Xizhe, who said it is "common knowledge" among merchants the two countries are improving ties, and the North is looking to increase trade with the world's second-largest economy.
"As long as North Korea remains focused on its economic development and is committed to denuclearization, it is only a matter of time before we see a trade thaw and boom alongside the China-North Korea border," said Chinese analyst Da Zhigang, director of the Institute of Northeast Asian Studies at the Heilongjiang Provincial Academy of Social Sciences.