Beijing, Seoul sign 17 deals, boost economic partnership

China and the Republic of Korea moved toward a closer economic partnership with deals to synchronize development strategies and speed up the ratification of a bilateral free trade agreement.

The two sides agreed on Saturday to launch a direct transaction market for their currencies in Shanghai, according to a statement released by the People's Bank of China.

China also supported the ROK in a plan to issue a yuan-denominated bond in China's debt market.