This paper briefly reviews the economic performance of China’s economic reform starting in 1978, and which it presents personal views on the experiences of Korea’s economic development and lessons for China’s economic reform. The paper reviews the China– Korea economic relationship, and explores both the opportunities of China’s economic development for Korea and the prospects for Bilateral Economic cooperation. It is estimated that the Chinese economy will maintain dynamic growth for the coming decade. The 2008 Olympic Games and the 2010 World Expo in China will provide further impetuses for Chinese economic development. China’s huge market and its rapid economic growth can help the further recovery and development of the Korean economy. At the same time, the further development of the Chinese economy can benefit from financial, technical and managerial support from Korea. The complementarities between the industrial structures of China and Korea will surely push their future economic cooperation into a broader and deeper stage. Bilateral trade will enhance the competitiveness of both nations in the global market and help them achieve mutual prosperity and development. This paper briefly reviews the economic performance of China’s economic reform starting in 1978, and which it presents personal views on the experiences of Korea’s economic development and lessons for China’s economic reform. The paper reviews the China-Korea economic relationship, and explores both the opportunities of China’s economic development for Korea and the prospects for Bilateral Economic cooperation. It is estimated that the Chinese economy will maintain dynamic growth for the coming decade. The 2008 Olympic Games and the 2010 World Expo in China will provide further impetuses for Chinese economic development. China’s huge market and its rapid economic growth can help the further recovery and development of the Korean economy. At the same time, the further development of the Chinese economy can benefit from financial, technical and managerial support from Korea. The complementarities between the industrial structures of China and Korea will surely push their fut ure economic cooperation into a broader and deeper stage. Bilateral trade will enhance the competitiveness of both nations in the global market and help them achieve mutual prosperity and development.