logo
China's Xi urges respect, 'right track' in call with South Korean counterpart

China's Xi urges respect, 'right track' in call with South Korean counterpart

The Hindu10-06-2025
Chinese President Xi Jinping told South Korean President Lee Jae-myung on Tuesday (June 10, 2025) that the two countries should respect each other's core interests and major concerns, and ensure ties move forward "on the right track", Chinese state media reported.
In their first phone call since Mr. Lee took office last week, Mr. Xi said healthy, stable, and continuously deepening China-South Korea relations were conducive to regional and world peace and stability, according to state broadcaster CCTV.
China is South Korea's biggest trading partner, and diplomatic relations between the two have improved since a 2017 spat over South Korea's installation of a U.S. missile defence system that Beijing opposed.
Mr. Xi urged the two countries to strengthen exchanges, adhere to the direction of "friendly neighbours" and jointly safeguard global and regional industrial, supply chains.
A strategic cooperative partnership between both countries would bring more benefits to both and "inject more certainty into the chaotic regional and international situation."
"It is necessary to respect each other's core interests and major concerns, firmly grasp the general direction of bilateral relations, and ensure that relations always move forward on the right track," Xi was quoted as saying by CCTV.
Mr. Lee's decisive victory in last week's snap election stands to usher in a sea-change in Asia's fourth-largest economy.
He faces what could be the most daunting set of challenges for a South Korean leader in nearly three decades, ranging from healing a country deeply scarred by his predecessor's martial law attempt to tackling unpredictable protectionist moves by the United States, a major trading partner and a security ally.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Xi to Meet EU Chiefs at Downsized Summit Hit by Trade, Ukraine
Xi to Meet EU Chiefs at Downsized Summit Hit by Trade, Ukraine

Mint

timean hour ago

  • Mint

Xi to Meet EU Chiefs at Downsized Summit Hit by Trade, Ukraine

Top representatives from the European Union will meet with Chinese President Xi Jinping and other key leaders Thursday, their first in-person summit since 2023 that's exposing a divide between the bloc and Beijing just months after earlier signs of a possible detente. Tensions spanning trade to the war in Ukraine are casting a pall over an event that coincides with the 50th anniversary of the establishment of China-EU diplomatic ties. The meeting has been cut short from two days to one at Beijing's request, Bloomberg News has reported, with the venue changed from Brussels to the Chinese capital after Xi refused to travel to Europe for the talks. The Chinese leader as well as Premier Li Qiang will meet throughout the day with European Commission President Ursula von der Leyen and the head of the European Council, Antonio Costa, according to an EU official. The meeting follows the EU's summit with Japan held in Tokyo Wednesday. While there are no plans to issue a joint communique, the EU intends to release a statement listing the main messages it delivered, according to people familiar with the matter, who spoke on condition of anonymity. The tensions on display this week contrast with hope at the height of the trade war unleashed by Donald Trump for China to repair ties with the EU. Back then, Beijing appeared to be positioning itself as a more reliable partner as Trump alienated the bloc. Now, deep disagreements are once again marring the relationship. Tensions flared in April with Beijing's decision to impose export controls on rare earth magnets, which shook European car companies and other sectors. Brussels also takes issue with what it considers as Beijing's support for Moscow. The EU on Friday sanctioned two Chinese banks and five China-based companies as part of its latest measures against Russia. Trade ties are another source of frustration. The Asian nation's goods trade surplus reached almost $143 billion in the first half of this year, a record for any six-month period, according to data released last week. The EU inflamed trade tensions when it imposed tariffs on Chinese electric vehicles last year in a bid to ward off a flood of cheap imports. In response, China launched anti-dumping probes into European brandy, dairy and pork. With assistance from Iain Rogers and Jorge Valero. This article was generated from an automated news agency feed without modifications to text.

PDD Analysts See HK Listing as More Likely After Auditor Change
PDD Analysts See HK Listing as More Likely After Auditor Change

Mint

time3 hours ago

  • Mint

PDD Analysts See HK Listing as More Likely After Auditor Change

(Bloomberg) -- PDD Holdings Inc.'s move to switch to a Hong Kong-based auditor may indicate the Chinese e-commerce firm is preparing to apply for a second listing there, according to two analysts. The parent company of budget shopping app Temu said in a filing on Wednesday that it has tapped Hong Kong-based auditors of Ernst & Young for a review of its financial statements this year. The firm previously worked with Beijing-based Ernst & Young Hua Ming LLP. Such a shift likely suggests that PDD is pursuing a listing in Hong Kong over coming months, according to Citigroup analyst Alicia Yap. 'If this proves to be true, we believe this could be viewed as a positive catalyst for the share price,' she said. PDD did not immediately reply to an emailed request for comment outside of office hours. PDD's American depositary receipts rose as much as 5.6% to the highest in two months. The firm is among the relatively few US-listed Chinese names that have yet to list in Hong Kong, a group that also includes retailer Vipshop Holdings Ltd. and tutoring firm TAL Education Group. Companies like Alibaba Group Holding Ltd., Inc. and Baidu Inc. have already secured a second listing in Hong Kong amid persistent concerns that they could get booted off American exchanges. In April, US Treasury Secretary Scott Bessent said all options are 'on the table' when asked about potential delistings of Chinese companies. A second listing would potentially enable investors of Chinese firms to convert ADRs to Hong Kong shares in the event of a US delisting. Upgrading the Hong Kong listing to a primary status — like what Alibaba did last year — will also allow mainland buyers to tap into the stock. Felix Wang, an analyst at Hedgeye Risk Management, noted that companies preparing to list in Hong Kong often engage with local auditors to comply with regulatory requirements. That was the case for both Alibaba and when they sought Hong Kong listings, he said. 'One of the frustrations on PDD in the past is the company not interested in issuing a secondary IPO' to expand its investor base, Wang said in a note. 'Is PDD changing its mind on listing in HK? It can only help with investor sentiment.' More stories like this are available on

India, China Review LAC Situation, Plan 'Special Representatives' Talks
India, China Review LAC Situation, Plan 'Special Representatives' Talks

NDTV

time3 hours ago

  • NDTV

India, China Review LAC Situation, Plan 'Special Representatives' Talks

New Delhi: India and China on Wednesday reviewed the overall situation along the Line of Actual Control (LAC) in eastern Ladakh and prepared the ground for the next edition of the Special Representatives' dialogue on the boundary question. The two sides discussed the issues at a meeting of the Working Mechanism for Consultation and Coordination (WMCC) that took place in Delhi. They expressed "satisfaction with the "general prevalence of peace and tranquillity in the border areas, leading to gradual normalisation of bilateral relations", the Ministry of External Affairs (MEA) said. It said India and China also prepared for the next round of the Special Representatives' (SR) talks to be held in India later this year. While India's Special Representative for the dialogue is National Security Adviser (NSA) Ajit Doval, the Chinese side is headed by Foreign Minister Wang Yi. Wang is expected to visit India for the upcoming SR talks. The last episode of the SR dialogue was held in Beijing in December last year. On the WMCC talks, the MEA said the two sides reviewed the situation in the India-China border areas. They "agreed to maintain regular exchanges and contacts on issues related to the boundary affairs at the diplomatic and military levels through established mechanisms", it said in a statement. "With a view to advancing effective border management and sustaining peace and tranquillity, the two sides deliberated on various measures as explored during the previous 23rd round of SR talks," the MEA said. The Indian delegation at the WMCC talks was led by Gourangalal Das, the joint secretary (East Asia division) in the MEA. The Chinese side was headed by Hong Liang, the director general of the boundary and oceanic affairs department of the Chinese foreign ministry. Hong also called on Foreign Secretary Vikram Misri. Over the last nine months, India and China have been engaged in normalising their relations after ending the military face-off along the LAC in October last year. Though the two sides have disengaged troops from the friction points, they are yet to de-escalate the situation by pulling back the frontline forces from the border. Each side currently has around 50,000 to 60,000 troops along the LAC in the eastern Ladakh region. The WMCC talks took place days after External Affairs Minister S Jaishankar visited China to attend a conclave of the foreign ministers of the Shanghai Cooperation Organisation (SCO). The military standoff in eastern Ladakh began in May 2020 and a deadly clash in the Galwan valley in June that year resulted in a severe strain in ties between the two neighbours. The face-off effectively ended following the completion of the disengagement process from the last two friction points of Demchok and Depsang under an agreement finalised on October 21 last year. The decision to revive various dialogue mechanisms was taken at a meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping in the Russian city of Kazan in October last year. The Modi-Xi meeting came two days after India and China firmed up the disengagement pact for Depsang and Demchok.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store