The relationship between China and North Korea is at a low point, according to Larry Fink, chairman of BlackRock, a global investment corporation.

Fink made the comment while looking ahead to President Donald Trump's meeting with the Chinese president, Xi Jinping, during a Thursday interview on CNBC's "Squawk Box."

"North Korea will be a major component of the conversations, but let's be clear. China's relationship with North Korea is at this moment probably the worst it's ever been. They're slowing changing their relationship with North Korea."

North Korea is a test for the relationship between the U.S. and China, a senior White House official said, according to Reuters. "The clock is very, very quickly running out. All options are on the table for us," the official said.

As for the meeting between Trump and Jinping, Fink is optimistic, partly because China is "in the middle of a mini-growth spurt."

"This is going to be a good meeting. Both sides need some form of success. I think they are going to find ways to improve the relationships," he said.

As for Trump's claims that China is a currency manipulator, Fink agreed, but with a twist.

"They are currency manipulators, but the opposite. They have spent almost a trillion dollars keeping the currency where it is. By all measures, when you look at relative to other currencies, China's currency is pretty high, and they've been keeping it high."

"They'll listen to President Trump. I think this is going to be a big success for both sides," Fink added.

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