Sino-Japanese cooperation in third-party markets is flourishing and boundary-less
Yicai |
Updated: 2018-10-31 17:17
A forum on cooperation between Japan and China in third-party markets was held on Oct 26, and the signing of the memorandum on establishing bilateral innovative cooperation mechanism was witnessed by Premier Li Keqiang and Japanese Prime Minister Shinzo Abe.
The cooperation between China and Japan in the third-party market is of great significance, which not only marks Japan's parting of the ways from the United States on the key issue of "Belt and Road Initiative", but also means that the way of China-Japanese cooperation can establish a template for China's cooperation with other countries in future.
Approved by the State Council, the People's Bank of China and the Bank of Japan signed a bilateral currency swap agreement aimed at maintaining financial stability and supporting the development of bilateral economic and financial activities, according to the official website of the People's Bank of China. The size of the agreement is 200 billion yuan / 3,400 billion yen ($28.7 billion), about 10 times bigger than the currency swap agreement of 2013.
Based on existing discussions, China and Japan may have more "third-party market cooperation" in the areas of culture, environment, urban planning, elderly care, health and medicine in the future, according to Wei Jianguo, vice-president of the China Center for International Economic Exchanges.
Abe's visit to China signifies that the bilateral economic and trade relations will shift from competition to cooperation with complementary advantages in the next 40 years, Wei said.
Wei stated that Sino-Japanese "third-party market cooperation" is not limited to "Belt and Road” framework. The "third party" includes not only Belt and Road related countries, but also wider markets and sectors.
The macro data show the trend of economy and trade between China and Japan has witnessed substantive warming.
From January to August this year, the bilateral economic and trade volume between China and Japan reached $214.1 billion, up by 11.2 percent year-on-year. Japan established 529 new enterprises in China in the first eight months of this year, increasing more than 40 percent compared with last year, and the investment amount reached $2.82 billion, up 38.3 percent year-on-year.
At the first China International Import Expo to be held from Nov 5 to 10 in Shanghai, Japan is the country with the largest number of registered companies, 579 companies registered.
This article is based on a report by Yicai, China's leading financial media.
A forum on cooperation between Japan and China in third-party markets was held on Oct 26, and the signing of the memorandum on establishing bilateral innovative cooperation mechanism was witnessed by Premier Li Keqiang and Japanese Prime Minister Shinzo Abe.
The cooperation between China and Japan in the third-party market is of great significance, which not only marks Japan's parting of the ways from the United States on the key issue of "Belt and Road Initiative", but also means that the way of China-Japanese cooperation can establish a template for China's cooperation with other countries in future.
Approved by the State Council, the People's Bank of China and the Bank of Japan signed a bilateral currency swap agreement aimed at maintaining financial stability and supporting the development of bilateral economic and financial activities, according to the official website of the People's Bank of China. The size of the agreement is 200 billion yuan / 3,400 billion yen ($28.7 billion), about 10 times bigger than the currency swap agreement of 2013.
Based on existing discussions, China and Japan may have more "third-party market cooperation" in the areas of culture, environment, urban planning, elderly care, health and medicine in the future, according to Wei Jianguo, vice-president of the China Center for International Economic Exchanges.
Abe's visit to China signifies that the bilateral economic and trade relations will shift from competition to cooperation with complementary advantages in the next 40 years, Wei said.
Wei stated that Sino-Japanese "third-party market cooperation" is not limited to "Belt and Road” framework. The "third party" includes not only Belt and Road related countries, but also wider markets and sectors.
The macro data show the trend of economy and trade between China and Japan has witnessed substantive warming.
From January to August this year, the bilateral economic and trade volume between China and Japan reached $214.1 billion, up by 11.2 percent year-on-year. Japan established 529 new enterprises in China in the first eight months of this year, increasing more than 40 percent compared with last year, and the investment amount reached $2.82 billion, up 38.3 percent year-on-year.
At the first China International Import Expo to be held from Nov 5 to 10 in Shanghai, Japan is the country with the largest number of registered companies, 579 companies registered.
This article is based on a report by Yicai, China's leading financial media.
