On January 25, Minister Wang Wentao of Commerce met with a delegation of Japanese businesses co-led by Chairman Kosei Shindo of the Japan-China Economic Association, Chairman Masakazu Tokura of the Japan Business Federation, and Chairman Ken Kobayashi of the Japan Chamber of Commerce and Industry. Wang listened and responded to the requests and comments by the Japanese economic delegation and shared candid views on hot issues concerning China-Japan trade and economic cooperation. Vice Minister Li Fei of Commerce chaired the meeting.

Wang said the important consensus reached by Chinese and Japanese leaders during their meetings charted the course for the development of bilateral trade ties. China’s efforts to comprehensively align with high-standard international trade and economic rules, further open up its service sector and build a market-oriented, law-based and world-class business environment will bring new opportunities for all countries including Japan. The high proportion of intermediate goods and capital goods in China-Japan trade reflects the deep integration of industrial and supply chains. Overstretching the concept of national security and the “small yard and high fence” approach will only lead to fragmentation of the world economy and reduce the space for free trade. The Ministry of Commerce and the Ministry of Economy, Trade and Industry of Japan have launched a dialogue mechanism on export controls. The two sides need to strengthen exchanges and cooperation through dialogue, enhance mutual trust, and maintain the stability and smooth flow of industrial and supply chains. It is hoped that the Japanese business community will stay committed to promoting political cooperation and government-to-government exchanges through economic cooperation and people-to-people communication, and continue to work with China to deepen cooperation in green development, health care and digital economy, expand cooperation in third party markets, advance economic cooperation in the Asia-Pacific region and jointly build China-Japan economic and trade relations that meet the requirements of the new era.

The Japanese economic delegation said China is Japan’s most important trading partner and the Japanese business community stands ready to step up communication with China, enhance mutual trust and deepen broad cooperation in carbon neutrality, technology innovation, trade in services and third party markets in a bid to contribute to the bilateral trade and economic relations.