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China-ROK ties enter fast lane of development

Editor: Li Kun 丨CCTV.com

11-04-2015 16:13 BJT

By Gu Jianjun, post doctorate of Central Compilation and Translation Bureau

Chinese Premier Li Keqiang paid an offical visit to the Public of Korea (ROK) to meet ROK President Park Geun-hye and attend the sixth trilateral summit - China, Japan and the ROK from Oct. 31 to Nov. 2. It's his first ROK visit after assuming office. He's playing a crucial role to promote cooperation between the two sides.

 

Four days prior to Li's visit, the China-Japan-ROK Seminar was held in Beijing with the theme, "Communication for Win-win Cooperation". Sponsored by the China Public Affairs Association, the semi-offcial seminar is considered a rehearsal for Chinese Premier Li Keqiang's visit. Trilateral cooperation is expected to go back to normal in the near future.

High-level exchanges

ROK is one of China's important neighbors. Since Park assumed office, China-ROK ties have developed further and high-level exchanges occur more frequently. Chinese President Xi Jinping said the two countries should achieve common development for regional peace and to revitalize Asia and promote global prosperity during his 2014 visit to the ROK.

Park visited China in 2013, and she attended  Beijing's memorial ceremonies for the 70th Anniversary of the Victory of Chinese People's Resistance against the Japanese Aggression and the World's Anti-Fascist War in September, 2015. Premier Li attended a welcoming ceremony held President Park, met Chung Ui-hwa, speaker of the ROK National Assembly and participated in trade and cultural activities in the past couple of days.

By exchanging views to promote bilateral relations, strengthening mutual political trust and deepening cooperation, Beijing and Seoul have consolidated strong momentum for bilateral relations. 

Economic and trade cooperation as "ballast" and "propeller"

China stands as the ROK's largest trading partner and largest source of imports, while the ROK is China's third most important trading partner. Trade volume reached some 300 billion U.S. dollars in 2014. China is the ROK's second largest overseas investment country, and ROK is China’s third largest source of foreign investment.

Accumulated two-way investments stood at 70 billion US dollars. Trade cooperation between the two nations has developed quickly, becoming a "ballast" and "propeller" for relations.

Beijing and Seoul signed a Free Trade Agreement on June 1, which was China's most comprehensive free trade pact with the largest volume of trade so far. Both sides are fulfilling domestic review procedures, striving to implement it at an early date. Li's visit aims to resolve problems over cooperation in economic fields.

He said efforts should be paid to integrate China's Belt and Road initiative and the ROK's Eurasia Initiative, China's mass entrepreneurship and innovations and the ROK's strategy for a "creative economy," the "Made in China 2025" initiative and the ROK's "3.0 strategy for manufacturing innovation", as well as the two nations' efforts to explore third-party markets for production capacity cooperation.

17 bilateral business contracts and governmental accords in areas including trade and economy, science and technology, environmental protection and people-to-people exchanges, were signed.

China-ROK ties have entered the fast lane with comprehensive development. Premier Li has achieved fruitful results that would inject more positive energy into regional peace, development and prosperity. 

 

( The opinions expressed here do not necessarily reflect the opinions of Panview or CCTV.com. )

 

 

Panview offers a new window of understanding the world as well as China through the views, opinions, and analysis of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

Panview offers an alternative angle on China and the rest of the world through the analyses and opinions of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

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