Wang was also asked about the recent developments in his press conference, and his answer went into more detail than previous statements from the Foreign Ministry.
On Tuesday, the South Korean Government announced President Moon Jae In and North Korean leader Kim Jong Un were set to hold a summit in April - only the third time in history that the countries' leaders would have met.
South Korean senior officials left for the US on Thursday to brief US President Donald Trump and his staff, likely to include Secretary of State Rex Tillerson and National Security Adviser H.R. McMaster, on the outcomes of their recent trip to North Korea.
"China's suspension-for-suspension proposal has proven to be a right prescription for the problem in creating the basic conditions needed for improving inter-Korea relations" Wang said.
China says its proposal urging South Korea and the USA to suspend joint military drills in exchange for North Korea stopping their nuclear tests, played a key role in the rapprochement between the two Koreas.
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The relationship between Seoul and Pyongyang has been ostensibly improving after North Korea made a decision to join the February 9-25 Olympics in South Korea.
Wang also indicated he expects more countries would cut formal ties with Taiwan, which China claims as its territory.
Beijing has criticized Washington's "freedom of navigation" operation in the South China Sea being conducted in an apparent move to challenge China's claims and activities there.
China has responded positively to the developments, as one would expect.
The dispute escalated particularly after the Japanese government led by Prime Minister Yoshihiko Noda effectively put them under state control in September 2012. Last year, trade between the two sides exceeded 500 billion USA dollars, and two-way visits totaled 40 million, benefiting almost 2 billion people, according to Wang.