The six-nation talks on Pyongyang's nuclear program, involving North and South Korea, Russia, Japan, China and the U.S., resumed in Beijing Monday following a 13-month suspension, during which time the reclusive communist state conducted its first nuclear bomb test.
Chinese Foreign Ministry spokesman Qin Gang said the negotiating parties are holding consultations on implementing a document adopted at the latest round of talks.
At the fifth round held in September 2005, Pyongyang agreed to abandon its nuclear program in exchange for aid and security guarantees, and the sides adopted a joint statement.
The statement confirmed North Korea's right to conduct peaceful nuclear research. Pyongyang, in turn, pledged to give up its nuclear weapons program and rejoin the Nuclear Non-Proliferation Treaty.
However, the country later boycotted further meetings in protest against financial sanctions imposed by Washington.
Late last year, the U.S. accused North Korea of printing counterfeit dollars and laundering money through foreign banks, and ordered a Macao-based bank to freeze North Korean accounts holding $24 million.
At the resumed talks, Pyongyang has insisted on lifting sanctions. A delegation led by O Kwang Chol, president of the North Korea's foreign trade bank, arrived in Beijing Tuesday to hold separate talks on unfreezing Pyongyang's bank accounts.
Pyongyang has also insisted on its status as a nuclear power, which means that negotiations, initially launched in 2003 to persuade the North to give up its nuclear ambitions after it withdrew from the NPT, could switch onto an arms reduction track.
A source close to the talks said Tuesday Pyongyang is ready to accept International Atomic Energy Agency (IAEA) inspections if its demands are met, but does not agree to permanent monitoring of its nuclear facilities
The delegations are set to gather at the negotiating table Friday, but it is still unclear whether the meeting will bring any joint document, the Chinese Foreign Ministry spokesman said.