According to China Customs, the trade volume between China and ROK in 2005 hit US$111.93 billion, up by 24.3 percent, among which China's exports to ROK were US$35.11 billion, up by 26.2 percent, while China's imports from ROK were US$76.82 billion, up by 23.4 percent, with a deficit of US$41.71 billion on China. China's main exports to ROK included clothing and related accessories, chemicals, steel and converted products, oil and converted products, corn, coal, television spare parts, spare parts of radio sets and wireless telecommunication equipment, integrated circuit and micro-electronic parts, aquatic produce, etc. On the other hand, China's main imports from ROK included integrated circuits and micro-electronic parts, steel and converted products, oil and converted products, television parts and accessories, radio sets and spare parts of wireless telecommunication equipment, consumer electronic products and components, spare parts for automatic data processing equipment, color display tubes, semiconductor devices, printed circuit, etc.
According to the China's Ministry of Commerce (hereinafter referred to as MOFCOM), the turnover of completed engineering contracts in ROK by Chinese companies recorded US$210 million in 2005, and the amount of the contracts signed in 2005 was US$250 million; the amount of completed labor service cooperation contracts US$310 million and that of the newly signed in 2005, US$260 million. By the end of 2005, the accumulated turnover of engineering contracts completed by Chinese companies was US$ 430 million, with that of all the contracts signed reaching US$660 million, and the amount of the completed labor service contracts had reached US$2.36 billion, with that of all the contracts signed amounting to US$2.83 billion.
In 2005, 22 Chinese funded non- financial enterprises, which had either been approved by, or submitted relevant applications for approval of, the MOFCOM, were set up in ROK, with a total contracted Chinese contribution of US$12.9 million. By the end of 2005, there were altogether 113 Chinese-funded non- financial enterprises in ROK, with a total contracted contribution of US$920 million.
According to MOFCOM, Korean- invested projects in China numbered 6,115 with the contracted amount hitting US$19.76 billion and actually contributed US$5.17 billion. By the end of 2005, the number of Korean direct investment projects in China had reached 38,868 and the amounts of the contracted investment and actual contribution stood at US$70.32 billion and US$31.11 billion respectively.
