The 6th Joint Conference of Sino-Korean Investment Cooperation Committee was held in Beijing on November 23. Chen Deming, Chinese Minister of Commerce and Chairman of Sino-Korean Investment Cooperation Committee, and Choi Kyung-hwan, Korean Minister of Knowledge Economy and Chairman of Sino-Korean Investment Cooperation Committee, jointly launched the website of Sino-Korean economic and trade cooperation.

Chen Deming said that the establishment of the strategic cooperative partnership between China and Korea has created new opportunities to deepen bilateral economic and trade cooperation. Sino-Korean bilateral trade volume in 2008 exceeded US $180 billion, 37 times that at the initial stage of the establishment of diplomatic relations. And by the end of September, the total two-way investment reached about US $450 billion, 100 times that at the establishment of diplomatic relations. Currently, Korea is China's third largest trading partner and third largest investment source, and China has become Korea's largest trading partner. In spite of the financial crisis,trade and economic cooperation between the two countries is showing positive changes with joint efforts of the two sides.

Chen Deming put forward a proposal that China and Korea strengthen cooperation in three areas: First, make efforts to explore ways of sustainable development so as to promote exchanges and cooperation in climate change, new energy and renewable energy, energy conservation and efficiency, and environmental protection, etc. Second, expand cooperation in such areas as electronic information,communication technology, tap potentials for new- and high-tech cooperation projects, strengthen cooperation on application of new- and high-tech, further improve new- and high-tech exhibitions of the two countries, and actively explore the establishment of Sino-Korean New- and High-tech Hatch Park. Third, provide better services to enterprises, and promote two-way investment. China welcomes Korean enterprises to participate in construction of infrastructure and conservation of ecological environment in Middle and Western China, and Northeast Old Industrial Base, and increase investment in key areas in China, and for which China will continue to provide relative support and convenience. China will also continue to encourage and support more competitive Chinese enterprises to invest in Korea, and hope Korea create a good environment for them.

Choi Kyung-hwan said that since the establishment of Korea-China diplomatic relations, economic and trade relations have made remarkable progress in the last 17 years, and the average annual growth rate is 25%. Korea also welcomes Chinese enterprises to expand investment in Korea, which has a rapid development in such areas as electronic commerce, nuclear energy for civil purpose and renewable energy, and China has advantages in such areas as aviation and aerospace and life science, and with the mutual complementarities, cooperation between the two countries shall be expanded. Choi Kyung-hwan hope to enhance coordination and cooperation with China to jointly oppose trade protectionism.