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China has their own version of OPLAN 5029:

The contingency plans outline three missions in North Korea should the regime become unstable: humanitarian efforts to help refugees, peacekeeping activities such as serving as police, and the securing of nuclear weapons and fissile material as well as cleaning up any nuclear contamination.

"If deemed necessary, PLA troops would be dispatched into North Korea," said the report, referring to China's military, the People's Liberation Army.

"China's strong preference is to receive formal authorization and coordinate closely with the U.N. in such an endeavor. However, if the international community did not react in a timely manner as the internal order in North Korea deteriorated rapidly, China would seek to take the initiative in restoring stability," it said.

The report, titled "Keeping an Eye on an Unruly Neighbor," was commissioned by the U.S. Institute of Peace and written jointly by authors from the institute and the Center for Strategic and International Studies. It is based on discussions with Chinese specialists on North Korea in June last year and was posted last week on the Web sites of authors' organizations.


I don't think China consulted South Korea about this...I know, I know, China and South Korea are not bound by a multilateral security agreement, whereas China and north Korea have the north Korea-China friendship treaty. And if i remember right it does mention something to the effect of allowing China to intervene in case Pyongyang was to fall. So why is this news? Well, it's the nukes, of course (from the same Yonhap Story):

Some Chinese experts are concerned the U.S. and North Korea may strike a compromise deal in which Pyongyang is allowed to keep its nuclear weapons, it said, isolating Beijing in its insistence that North Korea give up its atomic arsenal and severely impairing China-North Korea ties.

"Chinese analysts vividly recall that Washington pressed Beijing to impose great pressure on India after its nuclear test in 1998, but then reversed its position and condoned India's nuclear program, leaving China hanging out to dry," the report said.

"China subsequently devoted two years to mending its ties with India."


I'll have to read the full paper (link opens pdf version in separate browser) to comment any further.

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