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The new bank, he added, will cooperate with existing multilateral development banks to make full use of their respective advantages and jointly promote the sustained and stable growth of the Asian economy, Xi said.
"It is important to recognize the other side's crucial interests, because although there are still some implacable issues, the two sides may know each other's 'bottom line' and respect it," the report quoted Shi Yinhong, a Chinese international affairs expert, as saying.
According to the memorandum of understanding, courts and commercial banks will establish an exclusive channel to share lists of the names of defaulters.
Park expressed congratulations on the success of the Third Plenary Session of the 18th CPC Central Committee, adding that China's comprehensive and deepening reforms will help achieve the Chinese dream.
China will firmly adhere to the path of peaceful development and deepen friendly cooperation with other countries on the basis of mutual respect and mutual benefit in order to create an environment for peaceful cooperation, he said.
来源：资阳报