China's Diplomatic Efforts and Global Financial Moves

The White House has released images of Chinese President Xi Jinping that show a more relaxed and humorous side, contrasting with his carefully crafted image in China. The images were taken during the Asia-Pacific Economic Cooperation (APEC) summit in South Korea, where Xi met with US President Donald Trump. Xi was seen laughing and joking with Trump and South Korea's President Lee Jae Myung, moments that were not widely reported in China's tightly controlled media. The article highlights the difference between Xi's official image and his more relaxed demeanor abroad, and notes that such moments are often censored in China.

China is pushing for a trilateral free-trade agreement (FTA) with Japan and South Korea amid ongoing tensions with the US. Chinese Commerce Minister Wang Wentao met with South Korean Minister of Trade, Industry and Energy Kim Jung-kwan on the sidelines of the Asia-Pacific Economic Cooperation (Apec) forum and pledged to promote the resumption of negotiations. However, analysts say making substantial progress remains challenging due to divergent interests, new governments in Japan and South Korea, and Washington's influence. The trilateral FTA has been stalled for years, and while the three countries are members of the Regional Comprehensive Economic Partnership (RCEP), the FTA's prospects are uncertain due to Japan's new leadership and concerns about the potential costs outweighing gains for South Korea and Japan.

The Chinese government has announced new financial measures to strengthen Hong Kong's position as a global financial hub. Senior officials from Chinese regulatory bodies, including the National Financial Regulatory Administration (NFRA) and the China Securities Regulatory Commission, made the announcements at the Global Financial Leaders' Investment Summit. The measures include enhancing financial collaboration between mainland China and Hong Kong, promoting Hong Kong's integration into the nation's overall development, and leveraging its strengths as a 'superconnector.' Specific initiatives include facilitating mainland insurers to issue bonds and securities in Hong Kong, supporting banks and insurers in aiding Chinese businesses' overseas expansion, and reinforcing Hong Kong's role in the internationalization of digital currency and electronic payments. The NFRA and China Securities Regulatory Commission also plan to streamline filing procedures for Chinese companies listing overseas and expand the scope of stocks within the mainland-Hong Kong Stock Connect programmes.

China's top envoy to the US, Xie Feng, has called for action to follow up on the progress made during the recent meetings between Chinese President Xi Jinping and US President Donald Trump. Xie emphasized the need to translate the outcomes into concrete actions without causing new disruptions. He reiterated Beijing's four red lines, including the Taiwan issue, and stressed that it would be unacceptable to say one thing but do another. The comments were made during the US-China Business Council's annual conference in Shanghai.

China has pledged continued support for Hong Kong's development as an international financial centre, with Vice-Premier He Lifeng emphasizing its role in global financial governance and stability at the 2025 Global Financial Leaders' Investment Summit. He expressed confidence in Hong Kong's prosperity, stating that its status as a financial hub is 'set to be further consolidated and elevated.' The summit, themed 'Trekking Through Shifting Terrain,' brought together about 300 global financial leaders. He Lifeng highlighted the significance of global financial governance and Hong Kong's potential to drive its progress, calling for sustained support for the city's development and encouraging participation in China's growth.

Chinese Foreign Minister Wang Yi urged Germany to oppose Taiwan separatism and support China's reunification during a phone call with German counterpart Johann Wadephul. Wang accused Germany of making 'groundless accusations' and engaging in 'megaphone diplomacy.' The call came after Wadephul postponed his first trip to China, citing unfulfilled meeting requests. Wang emphasized the one-China principle as the foundation of China-Germany relations and expressed China's unconditional support for Germany's reunification.