President Chen Yulu of Renmin University of China (RUC) met with Mr. Soon Won Chung, Member of the Monetary Policy Committee of the Bank of Korea on Nov. 21, 2013. Chief Representative Mr. Jin Hanzhu and Deputy Chief Representative Mr. Quan Yihu Beijing Branch were also in attendance. President Chen and Chung discussed issues about the Third Plenary Session of the 18th CPC Central Committee, China’s economic development model transformation, financial reform, and economic cooperation between the two countries. Chung said he felt very glad to visit RUC at the very time that 2013 is the tenth year when Central bank of China and the Bank of Korea established representative office in the two countries. Economic and trade exchanges between the two sides are frequent. In the age of globalization, China and Korea should extend the exchanges, share experiences and lessons with each other. Korean financial circle pays close attention to China’s economic growth in order to get a broad knowledge of its economic layout, development roadmap and financial reform direction. President Chen said, the core of the Third Plenary Session of 18th CPC Central Committee was to comprehensively deepen the reform to realize the transformation of economic development mode. The transformation depends on science and technology, as well as industrial and managerial innovation. Korea has accomplished modernization by getting out of the middle-income trap, and takes a lead in technology and industrial innovation. Finance plays a significant role in accelerating the progress. President Chen agreed with Chund’s view. He said, this is the golden age for economic and trade exchanges between the two countries. He expected to see more communication with Korea and a full leverage on bilateral economic cooperation. Dr. Zhang Xiaojing, director of International Office, and A/P Shen Shuzi, School of Foreign Languages also attended the event.