Jin Yong didn't retell any stories, those stories were his own. Unless you see Tolkien as retelling stories of Elves, Dwarves etc. then sure Jin Yong is retelling stories.

"Tolkien melded multiple cultural traditions (the Icelandic Eddas, Anglo-Saxon literature, and rural English life) to create an original world that was at once strange and familiar to his readers"

"Jin Yong wrote stories based in Chinese history, with an extra layer of magic, spirituality, and kick-ass martial arts [to create an original world that was at once strange and familiar to his readers]"