Official suggests closer China-Japan economic ties

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China and Japan should expand economic ties as both countries have broad prospects for cooperation, a senior trade official said Monday.

The Belt and Road Initiative could become a new platform for mutual benefit, said Jiang Zengwei, minister of the China Council for the Promotion of International Trade, at a China-Japan entrepreneurs' dialogue in Beijing.

China's efforts to build a higher-level open economy with measures to liberalize trade and investment will provide opportunities for countries including Japan, Jiang said.

He suggested stronger cooperation in areas such as new energy, energy conservation and environmental protection, where Japan has advantages in technology and equipment.

The Belt and Road initiative could offer new opportunities to further China-Japan trade and ties. /Reuters photo.‍

China welcomes more Japanese firms to do business in the finance, insurance, healthcare, education, entertainment and tourism sectors, he said.

He also advised Japanese companies to use their strength in high-end manufacturing, smart manufacturing and biotechnology to help China upgrade its industrial structure and integrate the two countries' industrial chains.

China and Japan saw bilateral trade rise 14.2 percent year on year to 1.67 trillion yuan (about 252 billion U.S. dollars) during the first 10 months of this year, accounting for 7.4 percent of China's total foreign trade, customs data showed.

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Source(s): Xinhua News Agency