Commerce Minister Wang Wentao meets Japanese business delegation in Beijing

Chinese Commerce Minister Wang Wentao on Tuesday held talks with a visiting Japanese business delegation to discuss bilateral economic and trade relations, with a focus on strengthening business exchanges and fostering stable, long-term cooperation.

The meeting was attended by Chinese Commerce Minister Wang Wentao, Masakazu Tokura, chairman of the Japan Business Federation, and other business representatives from Japan, the MOFCOM said on Wednesday.

Wang expressed his desire to enhance business exchanges and visits between the business communities of both countries, and to deepen cooperation in areas such as green development, healthcare, elderly care, and service trade to support the sustainable and stable growth of China-Japan economic ties.

During the meeting, Wang emphasized the need for deeper economic integration between China and Japan, urging both sides to fully implement the key consensus reached by their leaders, strengthen policy communication, clarify the boundaries of economic security concerns, maintain the stability of industrial and supply chains, jointly oppose trade protectionism and unilateral actions, while safeguarding the multilateral trading system centered on the WTO.

Wang called for closer regional coordination under the Regional Comprehensive Economic Partnership (RCEP), revive stalled negotiations on the China-Japan-Korea Free Trade Agreement (FTA), while fostering a fair, transparent, and predictable business climate to support corporate collaboration between the two nations, Wang noted.

Currently, China's economic fundamentals remain strong, with new productivity drivers propelling high-quality growth. Initiatives such as China's large-scale equipment renewal and consumer goods trade-in programs are continuously expanding consumer demand, according to Wang.

The Minister emphasized China's full liberalization of foreign investment access in the manufacturing sector, while actively advancing the opening-up of sectors including telecommunications, healthcare, and education.

He also highlighted the implementation of the 24-point action plan to attract foreign investment, aimed at fostering a market-oriented, law-based, and internationally competitive business environment, creating new opportunities for foreign companies, including those from Japan, to expand in China.

In response, Japanese business representatives expressed their commitment to deepen economic and trade cooperation with China, enhance collaboration within regional and multilateral frameworks, and contribute to the advancement of China-Japanese relations from an economic standpoint.

Japanese business representatives emphasized that China-Japan trade, investment, and people-to-people exchanges are deeply intertwined, and expressed confidence that China's economic growth will bolster global stability and prosperity.