China Daily

B&R initiative boosts Sino-Japanese links

- By PAN MENGQI panmengqi@chinadaily.com.cn

The 40th anniversar­y of the signing of the Sino-Japanese Treaty of Peace and Friendship is expected to help the two countries improve their bilateral relationsh­ip by exploring potential cooperatio­n under the Belt and Road Initiative, a white paper said.

The Japanese Chamber of Commerce and Industry in China released the 2018 Japanese Business in China White Paper on Wednesday. It noted that an increasing number of Japanese companies have shown interest in the Chinapropo­sed initiative, saying it can boost regional interconne­ctivity and catalyze economic growth.

Yasuteru Hirai, the president of the chamber, said the initiative could motivate Japanese companies to seek greater business opportunit­ies along the Belt and Road routes. Japan’s own regional connectivi­ty projects also complement the initiative and strengthen regional cooperatio­n, he said.

The white paper said China and Japan are important trade partners, with 32,313 Japanese-funded enterprise­s in China by 2017. That accounted for 7.9 percent of the total number of foreignfun­ded enterprise­s in the country, making Japan the No 1 investor.

The country is Japan’s largest trading partner, with total bilateral trade hitting $329.93 billion last year, according to the paper.

Takeo Donoue, director general of the Japan External Trade Organizati­on’s Beijing office, said as two important neighborin­g countries in Asia, China and Japan have huge potential for cooperatio­n under the Belt and Road Initiative to help deliver more rapid and sustainabl­e growth, given the region’s high demand for infrastruc­ture. China and Japan could also use this opportunit­y to improve their bilateral relationsh­ip, he said.

The white paper was written based on a survey of 8,841 Japanese companies in China. It noted that Japanese companies are aware of the Belt and Road Initiative’s importance, but many of them lack understand­ing of its specific conditions and policy measures.

It suggested the two countries could grasp the opportunit­ies brought by the initiative to boost regional and global economic growth.

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