China and the Republic of Korea (ROK) should firmly stand on the right side of history and make the correct strategic choices, Chinese President Xi Jinping said while meeting with ROK President Lee Jae Myung in Beijing on Monday.
"In just two months, we have met twice and exchanged mutual visits, demonstrating that both sides attach great importance to the development of China-ROK relations. Today, changes unseen in a century are unfolding at a faster pace. China and the ROK shoulder important responsibilities in maintaining regional peace and promoting global development, and share a wide range of common interests. We should firmly stand on the right side of history and make the right strategic choices," Xi said.
At the invitation of President Xi, Lee arrived in Beijing on Sunday for a state visit to China through Wednesday. This is Lee's first visit to China since he took office in June 2025.
China, ROK should stand firmly on right side of history, make right strategic choices: Xi
China, ROK should stand firmly on right side of history, make right strategic choices: Xi
The People's Bank of China (PBOC) said on Tuesday that it will adopt a new package of measures to further enhance cross-border use of the Chinese yuan in 2026, in efforts to promote high-standard opening-up of the country's financial market.
According to the 2026 Work Conference of the People's Bank of China held on Monday and Tuesday, the measures to be taken will include leveraging bilateral currency swap arrangements, improving Chinese yuan settlement infrastructure, and facilitating Chinese yuan use in trade and investment.
The PBOC also pledged to refine mechanisms under initiatives such as the Bond Connect and the Swap Connect (an interest rate swap market access scheme), while encouraging more qualified overseas entities to issue panda bonds (yuan-denominated debts sold by overseas issuers) in China's domestic market.
The central bank said it will also work to expand interoperability among fast payment systems and promote QR code interoperability with partner countries.
"We will continue optimizing the Cross-Border Wealth Management Connect, put into service the Guangdong-Macao Elderly Pension Connect, and expand and upgrade the relevant services and systems such as the Cross-Border Payment Connect, the Hengqin Multi-Functional free trade account system, and the bank account opening witness program. These efforts aim to broaden pilot programs for high-standard opening-up in cross-border trade and investment and further facilitate cross-border use of the Chinese yuan," said Zhang Kui, head of the PBOC's Guangdong branch, in an interview with China Central Television.
Hengqin is an island in Zhuhai, a prefecture-level city and Special Economic Zone in south China's Guangdong Province. The Chinese government unveiled a plan in September 2021 to promote the Guangdong-Macao in-depth cooperation zone in Hengqin as a new platform to boost Macao's targeted economic diversification.
The central bank said it will implement the one-off personal credit repair policy in a prudent manner and improve payment services for elderly citizens and foreign nationals visiting China.
Steps will also be taken to strengthen oversight of virtual currencies, crack down on related illegal activities, and steadily advance development of the digital yuan, according to the central bank.
Measures to be taken to further facilitate cross-border use of yuan in 2026: China's central bank
