Chinese delegation of economists visits Japan

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02:59

A group of Chinese economists are closing a five-day visit to Japan on Friday. The Chinese economists met with members of Japan's Business Federation and scholars, hoping for a broader level of mutual understanding.

They exchanged ideas with their Japanese counterparts at a high-level forum on such topics as the global economic situation and the 2019 G20 summit in Osaka in June this year. They also discussed Sino-Japanese ties, economic and trade cooperation, and global economic governance, with representatives of various Japanese economic federations, financial and research institutions, and members of Japan's Diet.

Zhu Guangyao, former Chinese vice minister of finance, is leading the group. Also on the tour are Long Yongtu, former vice minister of commerce, and Justin Yifu Lin, dean of the Institute of New Structural Economics, Peking University.

Zhu said, all the meetings are productive and that the timing of the visit is particularly poignant given the two countries' relations returning to normal. He also said the cooperation between China and Japan has made contributions to regional cooperation in Asia and global prosperity.

Long said that during his current visit to Japan, he saw robust recovery of Sino-Japan trade ties.

CGTN Photo

Electronics, beauty products, cosmetics…these are some of the items Chinese tourists shop for most when they go to Japan.

February alone saw an estimated 2.6 million international travelers visit Japan, with Chinese tourists accounting for nearly 30 percent, according to Japan's National Tourism Organization.

Political relations between China and Japan have improved in recent years, as have economic ties.

According to the Standard International Trade Classification, maintained by the United Nations, the top export destination for Japan is China, and the top import origin of Japan is also China, which shows that Japan and China's economic ties are bonded with each other.

Chinese business remains the key lifeline for the Japanese economy, where net exports have contributed exactly one-third of Japan's economic growth since the beginning of 2017.

According to the Japan External Trade Organization, trade volume between the two countries in 2017 increased 9.2 percent, exports to China went up 13.7 percent, and imports from China increased by five percent.