The statement says the leaders of the two countries reviewed the development of the China-ROK good neighborly friendship during the past 11 yeas and announced with consensus to build an all-round cooperative partnership.

The statement says China and the ROK agree that the peace and stability on the Korean Peninsula should be maintained and the Korean Peninsula should be nuclear free. The two sides are also convinced that the nuclear issue in the Democratic People's Republic of Korea (DPRK) could be settled peacefully through talks, it says.

It says China holds that the security concerns of the DPRK should be taken into account and the ROK notes that the nuclear issue in the DPRK should be resolved in a verifiable and irreversible way.

The two sides agree that the Beijing talks held in April this year is helpful and hope that the dialogue process starting from Beijing talks should continue so as to push the situation on the Korean Peninsula toward a positive direction, the statement says.

The statement says China reiterates that there is only one China in the world and Taiwan is part of China, and the ROK understands and respects China's stance, pledging that it will continue to adhere to the one-China policy.

The two sides will strengthen mutual visits and meetings between leaders, and widen channels and improve mechanism of cooperation and dialogue, it says.

The two sides agree to take active measures for the healthy and smooth development of trade, it says, sticking to the principle of seeking trade balance through development for the common goal of improving the situation of trade imbalance.

The two sides agree to explore new cooperative fields and mechanisms and to jointly build forward-looking economic cooperative relations. The two sides also agree to improve joint research and cooperation in the industries of next generation telecommunications technology, biological projects and new materials, says the statement.

The two sides also agree to strengthen exchanges and cooperation in the fields of infrastructure construction including logistics, exploitation of natural resources, energy and transportation, the statement says.

The two sides agree to promote the newly-emerged regional cooperation process in the Asia Pacific region and continue to improve coordination and cooperation in regional and international affairs, it says.

ROK President Roh Moo-hyun invited Chinese President Hu Jintao to visit the ROK, and Hu accepted the invitation with pleasure, the statement says.

(Xinhua News Agency July 9, 2003)