Chinese Foreign Minister Wang Yi held a press conference on the sidelines of an annual meeting of China's parliament in Beijing on Thursday, stressing that China "has no need or intention to displace America."

While briefing the media on China's foreign policy, Wang Yi added that "China's path is completely different from that of traditional powers" underlining that the country is "on the long march to modernisation."

He said that China would make a necessary response in the event of a trade war with the United States but added that such a war would only harm all sides.

The Chinese Foreign Minister also commented on the situation on the Korean Peninsula, calling on the United States and North Korea to have talks as soon as possible. He said that peace must prevail, amid signs of easing tension over North Korea's nuclear and missile threats.

Up to 50% Off Men''s Apparel and Outwear at! While Supplies Last!

More videos