Winny Wang/Shanghai Daily news

Chief Chinese negotiator Wu Dawei delivered a speech at the opening ceremony of six-party talks at 4:20pm today at the Diaoyutai State Guesthouse in Beijing.

The third phase of the fifth round of six-party talks follows last month's meeting between negotiators from the US and the Democratic People's Republic Korea in Berlin over the DPRK's alleged illicit financial dealings.

The fresh phase will focus on initial steps to implement a 2005 joint statement.

Under the joint statement reached on September 19, 2005, the DPRK agreed to abandon its nuclear program in exchange for economic aid and security guarantees.

The last round of international arms talks in December -- held in the wake of DPRK's October 9 nuclear test -- failed to make any progress on getting the DPRK to disarm.