China urges Japan and South Korea to abandon "protectionism" during the trilateral summit.

• On Monday, China urged Japan and South Korea to reject protectionism and uphold free trade during a trilateral summit in Seoul.
• Chinese Premier Li Qiang expressed opposition to turning economic and trade issues into "political games or security matters" during a meeting with Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk-yeol, according to Chinese state media.
• Amid nuclear and missile threats from North Korea, the summit takes place with regional security as the top priority.

In a trilateral summit in Seoul, China urged Japan and South Korea to reject "protectionism" and uphold free trade on Monday.

Chinese Premier Li Qiang expressed opposition to turning economic and trade issues into "political games or security matters" during a meeting with Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk-yeol, according to Chinese state media.

Xinhua reported that Li stated that the three countries should view each other as "partners with opportunities for growth."

The ninth trilateral summit between China, Japan, and South Korea is taking place, marking their first meeting in over four years as they aim to strengthen their economic and security relationships.

The three leaders agreed to institutionalize three-way cooperation by regularly holding the trilateral summit and ministerial meetings.

The negotiations for a free trade agreement were agreed upon, with the goal of achieving a fair, comprehensive, high-quality, and mutually beneficial agreement.

Even though the summit may not result in a specific action plan, it is crucial for improving relations between the three countries, according to Stephen Nagy, a professor at International Christian University in Tokyo.

On Monday, CNBC's "Capital Connection" reported that China aims to entice South Korea and Japan away from the US-proposed initiatives.

President Biden has achieved great success in uniting Seoul, Tokyo, and Washington through the Camp David principles. However, China is concerned about this cooperation and aims to create tension between the U.S., South Korea, and Japan.

Amid nuclear and missile threats from North Korea, the summit takes place at a time when regional security is a top priority. Prior to the summit, Pyongyang announced plans to launch a rocket.

The three countries agreed to work together to denuclearize the Korean Peninsula and make efforts towards a political resolution of the issue.

According to Nagy, both Japan and South Korea understand that China has minimal influence over North Korea.

Any cooperation in stopping weapons proliferation from North Korea won't come from working with China alone, but from working together with the United States and other countries.

The nations pledged to maintain a transparent global marketplace for commerce and finance.

The need to continue communication in the field of export control is shared, they stated.

Tobias Harris, deputy director of the Asia Program at German Marshall Fund of the United States, stated that China is a significant market for both countries to overlook.

He stated that China is a large market and none of them can afford to abandon it as a place to sell products, according to CNBC's "Squawk Box Asia." He added that this would be a challenge moving forward.

Li had bilateral talks with the leaders of South Korea and Japan on the eve of the summit. He urged both countries to uphold an uninterrupted supply chain and protect the global free trade system.

Kishida conveyed "serious concerns" to Li regarding issues such as the South China Sea during their weekend talks.

The Japanese prime minister emphasized the importance of peace and stability in the Taiwan Strait for the international community, including Japan, and stated that Japan was closely monitoring relevant developments in Taiwan, including China's military activities near the island.

Harris stated that both Beijing and Tokyo will strive to maintain a stable relationship.

The security environment, with Japan's growing ties to Taiwan and cooperation with the United States, makes it increasingly difficult to separate Japan's economic relationship with China from these developments.