Deputy Chief Economist Zhang Yongjun Meets with Economic Counselor Lee Mee Yeon of the ROK Embassy in China

On 11 August 2015, Deputy Chief Economist Zhang Yongjun met with Economic Counselor Lee Mee Yeon of the ROK Embassy in China at CCIEE. Also present at the meeting were related officers from the External Affairs Department of CCIEE and Kim Ji-yeong, Second Secretary of the Economic Section of the ROK Embassy in China.

Mr. Zhang Yongjun briefed Mr. Lee Mee Yeon on China’s economic situation in 1H15, noting that despite the declines in industrial production index, the development of consumption-based service industry and the growing product inventory have shored up the economy. This, plus the growing trade surplus has made the 7% GDP growth target reasonably within reach for China in 1H15. According to him, the establishment of the China-ROK Free Trade Area will give a boost to bilateral trade. Both countries should further open their capital and financial markets and promote greater development of bilateral trade and economic ties.

Mr. Lee said that China is ROK’s the largest trading partner and its economic future will have a direct impact on bilateral economic exchanges. ROK looks forward to further intensifying economic and trade cooperation with China.

The two sides also discussed some specific projects under the “Belt and Road” initiative, China’s monetary and fiscal policies, recent volatility on China’s stock and financial markets, the development of free trade area, etc.