Financial crisis in the developing economies a performance stage, Japan has finally recognized the growth of China as a source of importance.

On August 28 at the third high-level economic dialogue, the two sides of economic recovery measures, bilateral and multilateral cooperation, the communication between the three topics were the signing of seven documents on cooperation to further promote economic cooperation have enjoyed continued development , solidify the Sino-Japanese strategic and mutually beneficial relationship.

The two countries signed the Sino-Japanese cooperation documents covering the distribution logistics policy, personnel scholarship agreement, circulation dialogue, economic exchanges and cooperation between industry, timber trade and the protection of forests, Zhu protection and food safety, involving a number of bilateral trade and cooperation specific areas.

The dialogue is in the new Japanese cabinet held after the ruling, but also China and Japan plan to develop a blueprint for their future economic development of an important period. Through dialogue, the two sides to seek common ground to expand economic development, enhance macroeconomic policy coordination, promote the development strategy of positive interaction between the two countries.

Since the Second China-Japan high-level economic dialogue, the Chinese economy during the financial crisis the first to rebound, the Japanese economy to rebound better. But in the global economy against the background of a difficult recovery, with export-oriented economies in China and Japan, the traditional export markets in Europe and the United States economic slowdown, sluggish domestic demand, domestic circumstances, are faced with domestic economic structure, accelerate the adjustment of the pressure, under step, how to lay a solid foundation of economic growth, the consolidation of Sino-Japanese economic recovery as the primary task facing the two countries.

In the dialogue session, how to layout a new economic growth point, significantly promote the Sino-Japanese trade has become a hot issue.

For the Japanese speaking, the recent rapid appreciation of the yen, further drag on economic growth in Japan. Japanese firms eager to export out of appreciation of the yen to bring pressure on China, eager to expand exports and increase investment in China, the more products to China production, deeper into the Chinese economy, relying on China’s rapid economic growth to lead the Japanese economy out of crisis.

At present, China is Japan’s largest exporter, Japan is China’s second largest source of foreign investment. Chinese customs data show that from January to July 2010, China imported 96.56 billion U.S. dollars from Japan, up 42.8%; as of the end of April this year, Japanese direct investments in China total almost 71 billion U.S. dollars.

The first half of this year, Japanese companies maintained by China trade performance of gratifying growth and to assemble products at low cost in China, many Japanese companies, “revive the family business.” Currently, China is still the main export products with low added value textiles, toys and plastic products, even if China’s export of high-tech products, many components are imported from Japan. This not only makes a lot of Japanese companies benefit from China’s development, but also for the Japanese enterprises to expand exports to China to bring space. European export market in the short term demand is not the case, the Japanese turned to hopes the Chinese market. For Japan to expand trade demands, China says Japanese companies will include the establishment of foreign enterprises, including a better environment for development.

The Chinese side expressed the hope in the dialogue in the high-end manufacturing, energy-saving environmental protection, information communication, quality management, to promote bilateral cooperation. For China itself, expect the Japanese understand the situation, and actively adjust the export structure of China, in Europe and the United States exports to China some of the “blind spot” excavation market. Japan’s wind power, solar batteries and so on to master the world’s high-end technology, but industry by domestic market size restrictions. The energy-saving environmental protection industry in China is a strategic new industries and new economic growth point, the two sides cooperate in these areas and presents tremendous opportunities. In addition, the Sino-Japanese economy is highly interdependent, complementary industrial structure, the two sides in the trade there are many opportunities for cooperation, Sino-Japanese economic cooperation between the closely related, so that bilateral economic and trade quickly recovered to the level before the financial crisis.

RE in Japan is very concerned about the issue, the Chinese explained the reasons for restrictions on the export of rare earth. The Chinese side said the restriction is for both to promote economic development but also the protection of the environment and national security a combination of factors to consider, not only to limit the export of rare earth, will be on the mining, production and trade restrictions on the entire chain. Sato, the Japanese Foreign Ministry spokesman Wu said that night, the two sides will continue consultations on the issue of rare earth.

In addition, the strong demand earlier maritime rights issue has not been prominent in this dialogue to achieve progress in the East China Sea oil and gas joint development and other issues remained to be two sides to communicate.

In this dialogue, China and Japan in the international negotiations on climate change to achieve greater consensus, both sides said they would jointly promote the international negotiations on climate change and achieve positive results.

The two economies and Japan to strengthen cooperation on the world economy is very important to the Asian economy is also very useful. China and Japan can help achieve a win-win: China can absorb high-tech Japan, to enhance the level of innovation; Japan slowdown in global economic recovery, the occasion, leveraging strong demand in China, led the Japanese economic recession. Financial crisis in the developing economies a performance stage, Japan has finally recognized the growth of China as a source of importance.

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