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China and South Korea signed a cooperation document to connect manufacturing industries to enhance competitiveness



According to Xinhua News Agency, Premier Li Keqiang held talks with South Korean President Park Geun-hye at the Blue House in Seoul on the afternoon of October 31, local time. After the talks, the leaders of th…

According to Xinhua News Agency, Premier Li Keqiang held talks with South Korean President Park Geun-hye at the Blue House in Seoul on the afternoon of October 31, local time.
After the talks, the leaders of the two countries witnessed the signing of 17 cooperation documents in the fields of bilateral economy and trade, humanities, science and technology, environmental protection, quality inspection and other fields.
Start China-ROK maritime delimitation negotiations as soon as possible
Li Keqiang first conveyed President Xi Jinping’s greetings to President Park Geun-hye. Li Keqiang said that China and South Korea are close neighbors and strategic partners. The bilateral relations have a good momentum of development. Cooperation in politics, economy, trade, people-to-people and cultural exchanges and other fields goes hand in hand with fruitful results, which not only benefits the two peoples, but also benefits the stability and prosperity of the region.
Regarding the development of China-ROK relations, Li Keqiang pointed out that first, we should adhere to the general direction of deepening the strategic cooperative partnership, continue to strengthen high-level exchanges and dialogue at all levels, formally launch China-ROK maritime delimitation negotiations as soon as possible, and strengthen cooperation in non-traditional security, law enforcement, disaster relief, etc. .
The second is to align the four national development strategies and create new cooperation highlights. The “Belt and Road Initiative” advocated by China and South Korea’s “Eurasian Initiative”, “Mass Entrepreneurship and Innovation” and South Korea’s “Creative Economy”, “Made in China 2025” and South Korea’s “Manufacturing Innovation 3.0”, China and South Korea jointly develop the first The docking of international production capacity cooperation in the three-party markets is an opportunity to strengthen cooperation in innovation, intelligent manufacturing, high-end technology research and development, etc., to promote the economic transformation and upgrading of the two countries, promote regional connectivity, and better achieve mutual benefit, win-win, and common development.
The third is to build two cooperation platforms for youth innovation and entrepreneurship and jointly explore third-party markets, give play to the leading role of the government, provide better guarantee for cooperation between the two parties, and establish a China-Korea Innovation and Entrepreneurship Park in Chengdu, China.
Fourth, in conjunction with the construction of the China-ROK free trade area, strengthen economic, trade and financial cooperation and macroeconomic policy coordination, promote negotiations on the China-Japan-ROK free trade area and the Regional Comprehensive Economic Partnership (RCEP), and advance the East Asian economic integration process.
Fifth, deepen people-to-people and cultural exchanges. On the basis of personnel exchanges between the two countries exceeding 10 million, the quality and quantity of people-to-people and cultural exchanges have been comprehensively improved, and the public opinion foundation for the development of bilateral relations has been further consolidated.
Park Geun-hye welcomed Li Keqiang’s first official visit to South Korea after taking office as Prime Minister, and expressed her agreement with the docking of the four strategies. She said that South Korea is willing to strengthen cooperation with China in the fields of economy, trade, finance, innovation, manufacturing, and medical care, and speed up the ratification process of the South Korea-China Free Trade Agreement so that it can take effect as soon as possible. South Korea has a positive attitude toward third-party international production capacity cooperation between the two countries. , willing to promote it.
Ensure that the overall slowdown on the peninsula is not reversed
When talking about the situation on the Korean Peninsula, Li Keqiang said that China insists on maintaining peace and stability on the peninsula, adheres to the goal of denuclearization of the peninsula, and insists on solving problems through dialogue and consultation. Under the current circumstances, relevant parties should work together to ensure that the overall slowdown in the situation on the peninsula is not reversed and continue to promote the denuclearization process on the peninsula.
Park Geun-hye said that South Korea attaches great importance to China’s important role in promoting the denuclearization of the peninsula and maintaining peace and stability on the peninsula, and is willing to continue to strengthen communication and coordination with China on peninsula issues.
Interpretation
Yesterday, the leaders of the two countries jointly witnessed the signing of 17 bilateral cooperation documents.
According to the Chinese government website, during the meeting between Premier Li Keqiang and South Korean President Park Geun-hye, the three key figures of “one, four, and two” were used to plan the relationship between the two countries. That is: adhere to the general direction of deepening the strategic partnership between China and South Korea, promote the docking of the four national strategies of China and South Korea, and build two cooperation platforms for youth innovation and entrepreneurship and jointly explore third-party markets.
“This visit will elevate the economic relations between China and South Korea to a new height. The China-South Korea Free Trade Agreement will not only bring benefits to each other, but will also become a lever to leverage the core of East Asian economic integration – the China-Japan-South Korea Free Trade Area. China and South Korea will also They will join forces to play an active role in the negotiations of the Regional Economic Partnership Agreement (RECP). In view of this, this visit makes the leverage of China and South Korea strong enough and large enough to play a role.” Zhang Jianping, director of the Institute of Foreign Economics of the National Development and Reform Commission, told the Beijing News reporter . Beijing News reporter Wang Xiaofeng
The docking of manufacturing industries enhances the competitiveness of the two countries
The four basic national strategic alignments between China and South Korea include the two countries’ entrepreneurship and innovation cooperation, “Made in China 2025” and South Korea’s “Manufacturing Innovation 3.0”, the two countries’ policies to explore third-party markets, China’s “Belt and Road Initiative” and South Korea’s “European Asia Initiative”. The two countries will realize the transformation and upgrading of their manufacturing industries under this grand strategy.
Manufacturing is the area of ​​closest cooperation between China and South Korea. South Korea is China’s largest source of imports. According to data from the Korea Trade Association, China’s imports from South Korea reached US$190.3 billion in 2014, a large part of which were parts and semiconductors.
Zhang Jianping pointed out that the closeness of China-South Korea cooperation in manufacturing is unmatched by other countries. This close connection is crucial for the two countries to compete globally. After the signing of the China-South Korea Free Trade Area, and the alignment of the manufacturing strategies of the two governments, mutual investment in the manufacturing industry between China and South Korea will be further increased. China’s cooperation in the field of research and development will also be further strengthened to jointly cooperate and innovate. And it will make the division of labor in our industrial chain shift towards horizontal division of labor and vertical division of labor.��Integrated development to jointly enhance the competitiveness of the two countries.
It is reported that the two sides will focus on strengthening cooperation in the field of robots in the manufacturing field, which will also continue to increase high-tech added value for China-South Korea cooperation.
Zhang Jianping pointed out that China and South Korea are big and powerful manufacturing countries. In the face of rising labor costs, robots are an inevitable option in the future. More importantly, production robots are a high-tech intensive industry. The two parties’ joint commitment to this industry will drive related downstream industries and have a strong stimulating effect on the processing and manufacturing, machinery, software, and electronic information industries.
While improving manufacturing, the leaders of the two countries also promised to strengthen cooperation in the innovative economy and promote the development of new industries. Li Keqiang once said that entrepreneurship and innovation should be connected with the innovation of various countries to achieve win-win cooperation. Innovative economy is also one of the key contents of President Park Geun-hye’s “Three-Year Plan for Economic Reform”.
Exploring third-party markets will benefit many parties
Not only that, the two countries must also realize the strategic alignment between the “One Belt, One Road” and the “Eurasian Initiative”, and on this basis, work together to enter the third country’s infrastructure and complete equipment market.
Zhang Jianping pointed out that South Korea not only actively responded to the Belt and Road Initiative, but also proposed the “Eurasian Initiative”. The two can be fully connected. South Korea’s economy is relatively small and focuses on the development of mid-to-high-end industries, technology-intensive and high value-added directions. However, if many countries along the “Belt and Road” want to invest in infrastructure construction and cooperate in production capacity, they must rely solely on South Korea’s own strength. , the effect will be relatively limited. The industrial chains of China and South Korea are closely intertwined, and joint efforts to explore third-party markets will form a win-win situation, with China, South Korea and third-party countries all benefiting.
While China and South Korea are promoting economic and trade cooperation, they are also constantly promoting financial cooperation. According to Korean media reports, South Korea’s Ministry of Planning and Finance and the People’s Bank of China took the opportunity of the talks between the leaders of the two countries to agree on a cooperation plan in the monetary and financial fields, and agreed to establish a Korean won in Shanghai, China. Direct trading market for RMB.
“The RMB is directly convertible in South Korea, but the Korean won is not directly convertible in China. A third-party currency is required, such as the U.S. dollar. After the establishment of a trading market in Shanghai, the Korean won can be directly converted in China, which is conducive to the growing trade between China and South Korea. Investment and direct currency exchange can reduce transaction costs and avoid market risks in third-party currencies.” Zhang Jianping pointed out.

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