China on Monday welcomed a new Russian-U.S. initiative to combat nuclear terrorism, which it called the No. 1 threat to global peace.

"Preventing nuclear terrorism is the No. 1 most serious challenge the international community faces in protecting world peace and security," Chinese Foreign Ministry spokesman Liu Jianchao said in a statement on the ministry's Web site.

Liu said China welcomed "all efforts to deepen international cooperation and enhance the coordinated drive to deter nuclear terror."

Presidents Vladimir Putin and George W. Bush, meeting July 15 in St. Petersburg, said their nations would jointly develop nuclear technology while working together to detect and track terrorists trying to get their hands on nuclear and radioactive materials.

China was studying the U.S.-Russian initiative.