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Mutual Funds - Mutual Funds.
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Posted by Monitor on August 26, 2008, 9:29 pm
Hu calls on China, S Korea to strengthen economic cooperation
Special report: President Hu visits 3 nations, attends SCO Summit
SEOUL, Aug. 26 (Xinhua) -- Visiting Chinese President Hu Jintao said
Tuesday that China and South Korea should strengthen coordination and
cooperation to jointly cope with challenges.
Addressing a luncheon with South Korea's four major economic
groups, Hu said trade and economic cooperation is an important element
of Sino-South Korean relations, and has played a significant role in
developing bilateral ties.
The bilateral trade volume reached nearly 160 billion U.S. dollars
last year, a 32-fold increase compared with early days when the two
countries established diplomatic ties, he said.
Hu added that so far, the two-way investment has exceeded 41
billion dollars, an almost 90-fold increase.
China and South Korea, as neighbors which are similar in culture
and mutually complementary in economy, have natural and cultural
advantages in in developing trade and economic cooperation, he said.
"Meanwhile, we should also realize that, amid a complicated,
volatile international economic situation, Sino-South Korean trade and
economic cooperation is confronted with many challenges," said the
Chinese president.
"Under this situation, China and South Korea should strengthen
coordination and cooperation and make full use of this opportunity to
properly resolve challenges," Hu said.
Hu put forward a three-point proposal on boosting economic
cooperation between the two countries.
China and South Korea should facilitate their cooperation in some
key areas, the Chinese president said.
Complementarity is one of the biggest advantages in the two
countries' trade and economic cooperation, he said, adding that China
has a huge market and rapid growth in its economy, while South Korea
has rich experience in technical industrialization and business
management.
The two countries should further exploit their advantages and
enhance exchanges and cooperation in key fields such as
telecommunications, finance, energy, logistics and environmental
protection, so as to raise the quality and level of bilateral
cooperation, Hu said.
China and South Korea should also boost mutual investment, he
said.
Hu urged the two countries to adapt themselves to changes in their
investment environments, expand investment areas and improve
investment modes.
The Chinese government welcomes investment from more South Korean
enterprises, and encourages and supports more Chinese enterprises to
invest in South Korea, he said.
Finally, Hu said, China and South Korea should broaden cooperation
in international economic affairs.
With the further development of economic globalization, the two
countries have witnessed an increase in their coordination and
cooperation in regional and international economic affairs, he said.
He called on Chinese and South Korean enterprises to strengthen
consultation and broaden cooperation in working out international
criteria, expanding international markets and participating in
regional integration.
The Chinese government is willing to work with its South Korean
counterpart to facilitate cooperation between the two countries'
enterprises, Hu said.
"I believe that the continuous development of China-South Korea
strategic cooperative partnership will open up a broad sphere for the
two countries' entrepreneurs to give full play to their wisdom and
creativeness and realize mutually-beneficial and win-win outcomes," he
said.
The Chinese president is paying a two-day visit to South Korea as
the first leg of his six-day Asia tour, which will also take him to
Tajikistan and Turkmenistan.
He will also attend the annual summit of the Shanghai Cooperation
Organization slated for Aug. 28 in Dushanbe, Tajikistan's capital
http://news.xinhuanet.com/english/2008-08/26/content_9712972.htm
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