China responded today to Ronald Reagan's victory with a veiled threat to slow the pace of Sino-American relations unless the incoming administration continues a strict hands-off policy toward Taiwan. t

In a statement issued with unusual speed a few hours after President Carter's concession, the Foreign Ministry stressed the importance of past U.S. agreements recognizing Peking as the only official government of China.

Less than 10 weeks after Peking denounced Reagan for suggesting that he would upgrade U.S. ties with the Nationalist Chinese government on Taiwan, the ministry said China "hopes and expects" that the new president will "adhere to the principles" of the past agreements.

While stopping short of a direct warning and softening its rhetoric somewhat compared to initial reactions to Reagan's campaign statements on Taiwan, the ministry made clear that such adherence would be required "so that Sino-American relations may continue to make good progress and grow."

The statement noted the global and bilateral importance of Sino-American friendship and pointed out that current relations were carved out by the past two American administrations with bipartisan support.

When the Carter administration recognized China in 1979, it severed diplomatic relations with Taiwan. Diplomatic and trade ties here have blossomed and the two governments are entering into a consultative arrangement on security issues.