On the evening of November 1, Chinese President Xi Jinping returned to Beijing after attending the 32nd APEC Informal Leaders' Meeting and completing a state visit to the Republic of Korea. This visit represented President Xi's first meeting with ROK President Lee Jae-myung after he took office. A key outcome was the reaffirmation of the strategic partnership between the two countries. How now to open a new chapter in Sino-Korean relations? President Xi has put forward four proposals:
1)Strengthen strategic communication and consolidate the foundations of mutual trust
2)Deepen mutually beneficial cooperation and tighten the bonds of common interests
3)Strengthen emotional ties between citizens and promote connectednessmore people
4)Work closely together at multilateral level to jointly promote peace and development
President Lee Jae-myung said that the Republic of Korea attaches great importance to relations with China and is ready to work together with the Chinese side for greater development of bilateral friendly relations and cooperation. Political trust is the foundation of the relationship between China and the ROK. In the face of comprehensive changes in the international environment, China and the ROK will eliminate external distractions, develop together on the basis of mutual respect, and achieve mutually beneficial cooperation through seeking common ground while preserving differences.
Economic and trade cooperation is the "cornerstone" of bilateral relations. In 2024, the trade volume between the two countries reached 328.08 billion US dollars, an increase of 5.6 %. As beneficiaries and drivers of economic globalization, China and the Republic of Korea share a consensus on resisting "disconnection and disruption of chains", protecting free trade, and ensuring the stability and continuity of industrial and supply chains.
This year marks the 10th anniversary of the signing of the China-Republic of Korea Free Trade Agreement, and negotiations for the second phase are accelerating. Combined with the potential for cooperation in emerging areas such as artificial intelligence, biopharmaceuticals, green industry and an economy focused on the needs of the elderly population, bilateral economic and trade cooperation can unleash even greater energy in the future. During the visit, President Xi Jinping reiterated that China will unwaveringly expand its high-level openness to the world and share development opportunities with all countries of the world.
The two countries have signed more than 10 cooperation agreements in the fields of economy, finance, agriculture, law enforcement, science, technology and media, fully demonstrating the rich content, vibrancy and broad prospects of cooperation between China and the Republic of Korea. Next year, China will host APEC for the third time. The Chinese side will jointly promote the Asia-Pacific Free Trade Area process and regional economic integration with the ROK and other stakeholders, and jointly build the Asia-Pacific Community. The ROK side expressed support for China's hosting of the APEC Informal Leaders' Meeting in 2026 and is ready to strengthen communication and coordination with the Chinese side on international and regional affairs, thus jointly promoting peace and development in the region and globally.
