On the afternoon of January 9, 2012, President Hu Jintao held talks with visiting ROK President Lee Myung-bak at the Great Hall of the People. The two heads of state had an in-depth exchange of views on bilateral ties as well as international and regional issues of common concern and reached important consensus.

Hu said since the establishment of diplomatic ties 20 years ago, especially since the launch of strategic cooperative partnership, bilateral ties have been developing continuously, with expanding cooperation and exchanges in politics, trade and culture, as well as good communication and coordination on international and regional affairs. He also expressed appreciation for the ROK's understanding and support on issues including Taiwan and its adherence to the one-China policy.

Lee praised the development of bilateral relations, and called this year an important one for the relations. The two countries have scored great development of bilateral ties and closer cooperation in various areas in the past 20 years. The bilateral relations were especially expanded and deepened since the establishment of the ROK-China strategic partnership of cooperation, Lee said.

Hu said this year is the 20th anniversary of the establishment of China-ROK diplomatic ties and also marks "China-ROK Friendly Exchange Year". China stands ready to work with the ROK to maintain high-level visits, deepen political mutual trust, strengthen dialogues and exchanges between governments, parliaments and political parties, properly handle sensitive issues and maintain the overall situation of the development of ties. He called on the two countries to tap cooperation potential, uplift the level of cooperation, expand cooperation in trade, energy conservation and environmental protection, high technology, finance, logistics and electronic business, and make joint efforts for the realization of bilateral trade of 300 billion U.S. dollars in 2015. Hu said that China will actively conduct joint research and development under the existing high-tech cooperation framework and promote the construction of a China-ROK industrial park. He welcomed the ROK enterprises to actively participate in China's economic restructuring and industrial upgrading. He welcomed ROK companies increasing investment in China, and called on the ROK side to make it easier for Chinese companies to invest there. He said China will strengthen exchanges with the ROK in culture, education, sports and tourism, and support exchanges of visits between localities, non-governmental organizations, media and young people of the two countries. "These activities are believed to promote the friendship between the two peoples," he said. President Hu also urged the two countries, sharing broad common interests in regional and international affairs, to promote regional cooperation, strengthen multilateral coordination, and jointly maintain and promote world peace, stability and development.

Lee agreed with Hu's view on the further promotion of ROK-China relations, which he said is one of the most important foreign relations of the ROK. He said the ROK side was glad to see the expanding cooperation and exchanges in all areas. China and the ROK have fulfilled the target of 200 billion U.S. dollars for the bilateral trade volume ahead of schedule. The personnel exchanges between the two countries in 2011 reached 6.5 million. He hoped both sides will develop a closer strategic partnership of cooperation with the new starting point of the 20th anniversary of ties. Lee pledged that the ROK will further strengthen cooperation with China in areas including trade, energy, new energy, environmental protection, finance, tourism and culture, as well as consultation and coordination on international and regional issues, so as to push forward the bilateral ties to a new high. He also reiterated ROK's adherence to the one-China policy in issues including Taiwan.

It is in the interest of all parties concerned to safeguard the peace and stability of the Korean Peninsula, Hu said, adding China is willing to enhance communication and coordination with all relevant parties and make unremitting efforts in this respect. China hopes the parties concerned will initiate more moves that help promote peace and stability on the peninsula, he said. He said China will as always support the improvement of relations through dialogue between the Democratic People's Republic of Korea (DPRK) and the Republic of Korea (ROK) and advance the process of reconciliation and cooperation.

Lee said it is the common goal of the ROK and China to realize the denuclearization of the Korean Peninsula and safeguard its peace and stability. The ROK appreciates China's efforts in achieving this goal and hopes that China will continue to play a positive role in this respect, Lee said.

Prior to the talks, President Hu Jintao held a welcome ceremony for President Lee Myung-bak at the North Hall of the Great Hall of the People. Sang Guowei, vice chairman of the Standing Committee of Chinese National People's Congress (NPC), State Councilor Dai Bingguo, Zhang Rongming, vice-chairwoman of the CPPCC National Committee, Vice-Chairman of the Central Committee of Chinese Peasants and Workers Democratic Party Liu Xiaofeng, Foreign Minister Yang Jiechi, Minister of the National Development and Reform Commission Zhang Ping, Minister of Commerce Cheng Deming and Chinese Ambassador to the ROK Zhang Xinsen attended the welcome ceremony.