I don't know why you are getting downvoted. I read those road markings the exact same way as you, no idea what "XINGPED" was. Finally at middle age, from an HN post, I understand what they mean. Mind blown. Why they just can't paint "Crossing" in slightly smaller text or just use the standard crosswalk bars? Jeez.
The ped xing sign is a small rectangle of auxiliary text below the graphic sign. There isn't room for spelled out "crossing" without compromising legibility at distance.
The pedestrian should be obvious from the graphic, so just "CROSSING" would be clearer. Most of the world uses a graphic-only sign for this [1, 2] so I'd think the text is redundant.
(A Google Image search shows examples of "PED XING" alone, but I don't know if this is official or common.)
(Red triangles are warnings, and blue rectangles are information. The blue sign is used at the crossing, and the red one some distance before if if that's necessary -- typically on faster roads.)
