The 15-member UN Security Council will vote Thursday on a draft resolution that "significantly expands" existing sanctions against North Korea in response to the North's defiant nuclear test on February 12.
"A strong signal must be sent that a nuclear test is against the will of the international community," China's UN ambassador Li Baodong said on Tuesday after the Security Council's closed-door consultations on North Korea.
Washington's UN ambassador Susan Rice also told reporters that the new draft resolution "builds up, strengthens and significantly expands the scope of the strong UN sanctions already in place."
UN diplomats said that once the resolution is approved, states will be obligated to expel any North Korean agent of a UN-blacklisted entity and will be required to inspect suspicious North Korean cargo on their territory. Such inspections of North Korean vessels are currently voluntary, according to Reuters.
The sanctions will also specifically name jewelry, yachts, racing cars and other high-class automobiles as luxury items that must not be sent to North Korea, targeting the ruling elite who are living these rather lavish lifestyles, AFP reported, citing a UN diplomat.
Facing the unprecedented external pressures, North Korea on late Tuesday threatened to scrap the 1953 armistice that ended the Korean War (1950-53) and would sever a military "hotline" with the US if Washington and Seoul press on with their planned military drills over two months.
"North Korea has previously made similar threats many times, but it's more risky this time given the unprecedented fragility of the situation," said Qu Xing, director of the China Institute of International Studies.
"However, the announcement was made by the North Korean military rather than the top leadership, which is seeking a permanent peace treaty with the US," Qu noted. "This leaves the door open for North Korea to repair ties."
South Korea's military vowed in a statement on Wednesday to "strongly and sternly" punish North Korea and target its top leadership in case of any provocations by the North.
Seoul said North Korea has stepped up preparation for a nationwide military drill, which is set to start next week.
Chinese foreign ministry spokeswoman Hua Chunying on Wednesday again urged concerned parties to remain calm and restrained.
"In the long term, we believe that a peace mechanism should replace the armistice," Hua said, adding that relevant parties should work toward this goal through negotiations.
The US will not agree to negotiate with North Korea for a peace treaty before Pyongyang shows its willingness to give up its nuclear ambitions, said Zhang Liangui, a professor with the Institute for International Strategic Studies at the Party School of the Communist Party of China Central Committee.
"Washington will not rule out resorting to military means to stem North Korea's nuclear program," Zhang said.
US Secretary of State John Kerry told CNN on Tuesday that it would be very easy for North Korean leader Kim Jong-un to "prove his good intent here."
"Just don't fire the next missile, don't have the next test. Say you're ready to talk and invite those talks, and people would be prepared to engage in that conversation, I'm convinced," Kerry said.
Agencies contributed to this story