Beijing, Seoul to further strengthen economic ties

China and South Korea are willing to deepen cooperation in third-party markets, services and emerging sectors, as the two sides look to cultivate new growth drivers in bilateral cooperation, said officials from the two countries.

The two nations held their economic ministerial meeting on Friday. Minister of the National Development and Reform Commission He Lifeng and South Korean Economy and Finance Minister Hong Nam-ki co-chaired the video meeting and delivered keynote speeches.

During the meeting, the two sides agreed to continue their support for further aligning the Belt and Road Initiative with the New Southern Policy and the New Northern Policy, making China-South Korea cooperation a driving force for regional and global development.

China and South Korea have joined hands in fighting the COVID-19 outbreak and opened a fast-track lane, keeping the smooth operation of regional industrial, supply and logistics chains, according to the meeting.

China said it has insisted on promoting the work and production resumption in the process of expanding opening-up. Since the second quarter of this year, China's economic performance has improved month by month, with production demand continuing to pick up.

According to the Chinese side, the country's positive economic fundamentals and long-term trajectory remain unchanged. What also remains unchanged is the basic fact that China's economy has great potential, strong resilient and ample room for maneuver.