What does China want? Unfettered access to the South China Sea.
What does the U.S. want? North Korea to hide it's nuclear weapons program and delivery system a little better.
The conventional wisdom tells us China is the only country with any real influence over North Korea. So given the Obama/Kerry diplomacy team's record with Iran, there shouldn't be much doubt that the U.S. would agree to give up complaining about the South China Sea thing to buy some peace and quiet from North Korea until after the new president is sworn in.