China eyes economic cooperation with Japan

Li promises fair play for investors as part of better bilateral ties in remarks at a forum

China is willing to step up economic cooperation with Japan and offer a fair environment for its investors, Premier Li Keqiang has told business leaders, echoing the consensus reached between leaders of the two countries following their meeting in Thailand this month.

Li addressed the 8th ChinaJapan Business Leader and Former High-Level Government Official Dialogue via video link on Monday, stressing the importance of respect and treating each other “as equals”.

“Maintaining the sound and stable development of ChinaJapan relations conforms to the interests of both sides and is conducive to the well-being of the two peoples, as well as regional and world peace, stability and development,” he was quoted as saying in a State Council readout.

Li welcomed Japanese investment into the country. He said he hoped both countries could “give full play” to the complementary advantages of their economies and strengthen cooperation in areas including the digital economy, green development, finance, medical care and care for the elderly.

The dialogue has been held annually since 2015. Around 50 former officials and business leaders from both countries attended this year, including former Chinese vice-premier Zeng Peiyan and former Japanese prime minister Yasuo Fukuda, son of another former prime minister, Takeo Fukuda, who signed a peace and friendship treaty with Beijing in 1978.

The two countries resumed high-level maritime consultations last week, following a meeting between President Xi Jinping and Japanese Prime Minister Fumio Kishida during the Asia-Pacific Economic Cooperation summit in Bangkok, Thailand.

In a five-point document released after the meeting, the two sides pledged to strengthen economic cooperation and maritime consultations in an effort to stabilise strained ties between two of the world’s largest economies.

According to the document, the leaders agreed to provide a fair and non-discriminatory investment environments for businesses from both countries and called for new high-level economic talks to be held soon.

Japanese media reported last week that Kishida had asked Xi to ease some of China’s Covid-19 measures during their meeting, citing the “negative impacts” of the country’s zero-Covid policy on Japanese companies. In response to the reports, foreign ministry spokeswoman Mao Ning said Beijing was working to better facilitate travel for foreign executives and their families.