The fourth round of dialogue between Chinese and Japanese entrepreneurs and former high-level officials was held in Beijing from October 11 to 12. 

During the talks, the delegates from both sides reached a consensus to deepen economic cooperation, promote globalization and innovation.

The annual conference marked the improving ties and increasing high-level contact between the two countries.

Last month, Chinese President Xi Jinping met with Japanese Prime Minister Shinzo Abe, and urged both sides to bear responsibility for world peace and prosperity.

The Japanese leader also promised a visit to China, which is set to take place from October 25 to 27 and would be his first in seven years.

Observers say this gesture sends a positive message of speeding up enhanced cooperation while easing tensions on territorial and historical disputes.  

Former Chinese vice premier Zeng Peiyan, also the chairman of the China Center for International Economic Exchanges (CCIEE), called on both sides to seize the opportunity, as this year also marks the 40th anniversary of the signing of the China-Japan Treaty of Peace and Friendship. 

During the event, participants from China recognized good momentum in bilateral economic ties, with rapid growth in trade, investment and people-to-people exchanges.

However, they also admitted the world's second and third biggest economies are together facing risks of rising anti-globalization and protectionism. 

Experts pointed that China and Japan are closely linked in the global industrial chain. 

Zhang Dawei, secretary-general of CCIEE, said that China requires investment and technologies for its development while Japanese industries are looking for expanding markets. 

"China is shifting from fast-growing to high-equality growth, which offers commercial opportunities for Japanese manufacturing and service sectors," he added. 

The delegates from both sides called on the two countries to work together to oppose protectionism, while safeguarding international economic order.

Japan, on its part, agreed that globalization is an irreversible trend, and entrepreneurs from both countries can improve the quality of cooperation in various sectors to contribute to the world economy.

Former Japanese Prime Minister Yasuo Fukuda said that China, Japan and other Asian countries have benefited from international order. Therefore, protecting the post-war order is in line with interests of all parties. 

Fukuda appeared to hold a positive outlook of the upcoming meeting between Chinese President Xi Jinping and Japanese Prime Minister Shinzo Abe. He hoped the two leaders would specify the future of Sino-Japanese cooperative relations, and mentioned the meeting could also be a good turning point to help China ease trade tensions with the US for stable economic growth.

The two east-Asian countries aim to ensure continued globalization and economic growth in the region. 

Both look forward to the materialization of the Regional Comprehensive Economic Partnership and a free trade agreement between China, Japan and the Republic of Korea (ROK).

Another significant step is to focus on market development in third-party markets, especially under the Belt and Road Initiative. 

Ning Jizhe, deputy director of the National Development and Reform Commission, during a meeting with Japanese and Thai officials on May 30 this year in Bangkok, said that the countries will jointly work on Thailand's Eastern Economic Corridor. 

The announcement followed Chinese Premier Li Keqiang's four-day visit to Japan in the same month.

A forum will also be held in Beijing on China-Japan-ROK cooperation in third-party markets late October.

Attendees also exchanged ideas to create a favorable environment for coordinated economic growth and social development.

Cooperation strategies emphasized on sectors including innovation and high technology, healthcare and green energy. That is supposed to deal with China and Japan's common issues like industrial upgrading, an aging society, and pollution.

Representatives from both countries spoke highly of  regular exchanges between entrepreneurs and former senior officials. They acknowledged the significance of the platform for deepening cooperation, and promoting understanding. 

Tokyo will host the next round of talks in 2019.