NEW YORK -- Chinese Foreign Minister Wang Yi on Thursday delivered a speech in New York in which he warned that proposed new U.S. legislation on Taiwan puts stable relations at risk.

"The 'One China' policy is the base of the political foundation that U.S.-China relations are built on," Wang said in Mandarin, speaking to the Asia Society in Manhattan. "The Taiwan issue is increasingly becoming the biggest risk in U.S.-China relations, and if it's not handled well, it's very possible it will cause subversive consequences."