BEIJING, February 18th (AMSP/CGTN) – – The Japan Business Federation has sent a delegation to China, marking the 50th year of this annual tradition. With meetings and visits full on the agenda, the visit this year aims to further strengthen bilateral ties and explore new opportunities for economic cooperation.
It has been a tradition since 1975 for the Japan Business Federation, also known as Keidanren, to visit China at the beginning of the year. The visit this year brings a team of over 230 people, including top business leaders, the largest ever.
The chairman remarked that this visit holds extraordinary significance, as expressed during the banquet, also the promotion event for the 3rd Supply Chain Expo hosted by the China Council for the Promotion of International Trade.
“During their meeting last November, the two countries’ leaders reiterated keeping up the momentum in our strategic, mutually beneficial partnership and ensuring it stays constructive and stable. This was a big boost for the business world. Meanwhile, things have become less predictable since Trump took office in the U.S., so Japan and China need to promote more talks between governments, businesses, and public-private groups, to avoid misunderstandings and tackle issues or unresolved problems step by step,” Japan Business Federation Chairman Masakazu Tokura said.
Deputy Head Shimamura Takuya also believes cooperation between China and Japan is of much importance amid vast changes in the world economy.
“The global economy has always been based on the WTO and free trade agreements, but lately, the whole idea is slowing down. Europe and the U.S. are gradually stepping back from globalization. Therefore, Asia needs to step up. Countries like China, Japan, and even South Korea should work together to create stronger supply chains within the region and boost Asia’s economy,” said Takuya Shimamura, Vice Chairman of the Japan-China Economic Association.
One member of the delegation, Panasonic Corporation, recently announced a new semiconductor packaging materials factory in China, with an investment of 1.2 billion RMB, showing its confidence in the business environment.
“I came to China in 2019, and since then, Panasonic has set up or expanded 18 production and R&D bases across the country. The Shanghai project is our 19th. China’s semiconductor industry is growing rapidly. Also, we’ve been in Fengxian District, Shanghai, for more than 20 years, and made much progress. This time, we also got much support from the local government, and many well-trained employees,” said Homma Tetsuro, Executive Vice President, of the Panasonic Holdings Corporation.
This year’s delegation, interested in the thriving consumer market, will not only meet with leaders from various government departments in Beijing but will also visit the Central city of Changsha to investigate business operations.
This 6 day visit will last until 21st of February. As China-Japan economic relations continue to warm and deepen, this visit makes it possible for both sides to find new growth opportunities for the economic development, and to open up more areas for cooperation.
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CGTN