China on Wednesday called for calmness and restraint after Pyongyang\'s military threatened to scrap the 1953 cease-fire with South Korea, state-run Xinhua News Agency reported. \"The Korean War armistice is significant in terms of maintaining peace and stability on the Korean Peninsula,\" Foreign Ministry spokeswoman Hua Chunying was quoted as saying at a press conference in Beijing. Hua\'s comments came after the Korean People\'s Army Supreme Command said Tuesday that the country would nullify the armistice that ended the 1950-1953 Korean War when the joint South Korea-US military exercises will start on Monday. The South Korean military warned on Wednesday that it will retaliate against the North if it takes any provocative action. \"China hopes relevant parties will remain calm and restrained, as well as refrain from taking any action that could escalate tensions,\" Hua said. She said maintaining peace and stability on the Korean Peninsula is the common responsibility of all parties concerned. Regarding the UN Security Council\'s ongoing consultations on how to respond to the North\'s third nuclear test conducted on Feb. 12, Hua said China hopes the UN Security Council will react in a necessary and moderate way. China is the closest ally of North Korea and a veto-wielding permanent member of the UN Security Council. It has also provided North Korea with economic aid and diplomatic protection.