BEIJING, Nov. 14 (Xinhua) -- China on Thursday called on all parties to cherish the hard-won momentum for dialogue and amelioration on the Korean Peninsula.

The United States and the Republic of Korea plan to hold military drills in mid-November. The Democratic People's Republic of Korea on Wednesday warned that the U.S. will face grave consequences if it goes ahead with the scheduled drills.

When asked to comment on the situation, Foreign Ministry spokesperson Geng Shuang said dialogue is the only viable way to a political settlement of the Korean Peninsula issue.

"We call on all parties to cherish the hard-won momentum for dialogue and amelioration, stay committed to dialogue and consultation, show flexibility, enhance mutual trust and work constructively towards denuclearization and enduring peace on the Peninsula," Geng added.