China-S Korea relations enter new era after Xi’s visit

BEIJING: Chinese President Xi Jinping’s July 3-4 visit to South Korea ushered in a new era in bilateral relations featured by “comprehensive upgrading” and “warming politics, hot economy.”
The short yet fruitful trip, described by some as “drop-ins among relatives,” has pushed the strategic cooperative partnership between the two sides to new heights, setting a new milestone for the future development of bilateral ties. During his visit, Xi said that China and South Korea should be partners that share common development, jointly promote regional peace and Asia’s revitalization, and boost world prosperity.
Xi’s remarks, that are in line with the needs of the two sides and reflect the common aspiration of the international community, have significantly enriched the two countries’ strategic cooperative partnership and pointed the way to future development of bilateral ties. Strengthened mutually beneficial cooperation between the two countries and their increasingly intertwined interests can serve as a booster for regional development. China and South Korea, both of which had been plagued by poverty, share eagerness for growth and development.
During Xi’s visit, the two sides signed a deal on establishing arrangements for the Chinese yuan clearance in Seoul and agreed to push for the completion of their free trade agreement negotiation by the end of this year. Those decisions will boost South Korea’s financial markets, and greatly promote the process of economic integration among Asian countries. Meanwhile, enhanced mutual trust and good neighborly relations between China and South Korea will play a role as regional stabilizer. The two countries, both of which had been ravaged by wars, share the earnest aspiration to have peace.
During Xi’s visit, the two leaders reached important consensus on the Korean Peninsula issue, pledging that the two countries are firmly committed to pushing for a nuclear-free Peninsula, maintaining the peace and stability on the Peninsula, observing the September 19 Joint Statement, which was issued after the fourth round of Six-Party Talks in 2005, as well as promoting the Korean Peninsula denuclearization process and facilitating resumption of the Six-Party Talks. The consensus will play a constructive role in easing tensions on Korean Peninsula and promoting peace and stability in Northeast Asia.
An upgraded China-South Korea relationship and stepped-up cooperation will create a “win-win” situation for both sides, especially at a time when the political landscape in Northeast Asia is transforming and relations among countries are becoming even more complicated.
While delivering a speech at the Seoul National University, President Xi pledged that China will always safeguard peace, promote cooperation and keep a learning mind. An increasingly prosperous China will provide a historic opportunity for the development of China-South Korea cooperation. The two nations, with ambitious visions and joint commitment toward stronger cooperation, will bring about a promising future for the region as well as the world. 

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Aaj Kal