China has announced a new visa-free entry policy for ordinary passport holders from Slovakia, Norway, Finland, Denmark, Iceland, Andorra, Monaco, Liechtenstein, and South Korea. The move, which aims to enhance international exchanges, will permit citizens of these countries to enter China without a visa for up to 15 days for purposes including business, tourism, family visits, and transit. The policy will be in effect from November 8, 2024 until December 31, 2025. Those who do not meet the visa-free criteria will still need to obtain a visa prior to entering China.

Notably, this policy includes South Korea in China’s visa-free programme for the first time, sparking optimism for increased bilateral engagement. In response to the news, the South Korean entertainment stocks took a surprising surged, with JYP Entertainment shares rising by over 10% after a seven-day decline. SM Entertainment, HYBE, and YG Entertainment also saw significant gains as market expectations grew for expanded cultural and tourism exchanges. This is in particularly optimistic as there has been a ‘Hallu ban’ in China since 2016.

A spokesperson for the Chinese Ministry of Foreign Affairs, Lin Jian, stated, “In order to facilitate the travel of Chinese and foreigners, China is expanding the scope of its visa-free policy.” This move aligns with China’s broader goal of promoting global exchanges, ahead of President Xi Jinping’s anticipated visit to South Korea in 2025.

Ji In-hae, a researcher at Shinhan Investment & Securities, noted, “China has included South Korea in its visa-free tourism programme for the first time, and there are high expectations for expanded exchanges between the two countries.”

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