Countries agree to boost renminbi settlement and set trade targets

China and South Korea pledged on Thursday to conclude negotiations on a free trade agreement before the end of this year, but experts said major difficulties remain in sensitive areas.

President Xi Jinping started a two-day visit to South Korea on Thursday, his first after taking office last year. A joint statement issued after his meeting with his South Korean counterpart Park Geun-hye evaluated progress made on forging a comprehensive free trade pact.