Beijing said on Friday that all parties should "increase coordination, show flexibility, resolve as many differences as they could and build consensus" at the final stage of negotiation at the Paris Conference on Climate Change.

Foreign Ministry Spokesperson Hua Chunying made the remarks at a daily press conference as she was asked about China's position and if China is prepared to make a financial commitment close to what developed countries make in order to solidify a deal.

The Chinese side welcomes the new draft of the Paris accord which was unveiled on Thursday afternoon of local time.

"However, the draft left some major issues unresolved. There is still distance to be covered before we reach a final deal," Hua said.

She said the success of the Paris conference hinges on the devotion of all 196 state parties to the UN Framework Convention on Climate Change (UNFCCC).

"The fire burns high when everybody adds wood to it," Hua said of a traditional Chinese idiom.

Hua noted that China is pressing ahead with industrialization, urbanization and modernization while dealing with multiple challenges, but China "has never relented its efforts in tackling climate change and has made well-recognized achievements".

In its Intended Nationally Determined Contributions submitted to the UN in June this year, China pledges to peak CO2 emissions by around 2030 and strive to achieve it as soon as possible, and by 2030, reduce CO2 emissions per unit of GDP by 60-65% over the 2005 level.

"This requires strenuous efforts, but we have confidence and resolve to fulfill our commitments," Hua said.

The Chinese side will continue to pull together with all parties in a positive and constructive attitude and push for comprehensive, balanced and ambitious outcomes of the Paris conference, Hua said.

All parties should honor the principles of common but differentiated responsibilities, equity and respective capabilities so as to come up with equitable, reasonable and effective global solutions to climate change, according to Hua.