BEIJING, Dec. 6 (Xinhua) -- Chinese President Hu Jintao on Monday called for calm and rational response from all sides to prevent the deterioration of the fragile security situation on the Korean Peninsula.

In a telephone conversation with his U.S. counterpart Barack Obama, Hu said China is greatly concerned about the current tension on the peninsula, and deeply regrets the loss of lives and properties in the exchange of artillery fire between the Democratic People's Republic of Korea (DPRK) and South Korea late last month.

The fragile security situation on the Korean Peninsula, if not properly handled, could lead to further escalation of tension, or even run out of control, which is not in the common interests of all parties concerned, said Hu.

It is China's consistent stand to achieve denuclearization of the Korean Peninsula and solve the nuclear issue on the peninsula through dialogues and negotiations to safeguard peace and stability of the peninsula and Northeast Asia, Hu said, adding that this is also the starting point and ultimate goal of the Chinese side in dealing with the Korean Peninsula's nuclear issue and other related issues.

"China has always believed that dialogues and negotiations are the only right way to solve the issues and achieve lasting peace and stability of the Korean Peninsula," the Chinese leader said.

The development of the situation has further proved the importance and urgency of restarting the six-party talks, Hu noted. He also said that China has proposed emergency consultations among the heads of delegations to the six-party talks, which involve China, the DPRK, South Korea, Japan, Russia and the United States.

"To relax tension, not aggravate it, to seek dialogue, not confrontation, and to pursue peace, not war, this is the strong aspiration and call of the peoples in both sides of the Korean Peninsula and of the international community," Hu said.

Obama, on his part, said the situation on the Korean Peninsula has an impact on the security of East Asia at large.

The United States is willing to cooperate closely with China to achieve the common objective of denuclearization on the peninsula, remove the risk of instability there and protect the security environment in Northeast Asia, he said.

The United States hopes to solve the issue through effective dialogues and engagement, and will keep close contact with China in this regard, Obama added.

During the phone conversation, Hu also told Obama that China and the United States share extensive interests in such areas as tackling the international financial crisis, boosting global economic recovery and development, and safeguarding world peace and stability, and both countries shoulder important responsibilities in these regards.

Hu also called for joint efforts to promote dialogues, mutual trust and cooperation in solving some sensitive issues, stand up together to face an increasing number of global challenges, and enhance the steady and sound development of the positive, cooperative and comprehensive Sino-U.S. relations.