Shandong, Japan boost industrial cooperation, exchange

The "2021 Dialogue with Shandong -- Japan · Shandong Industrial Cooperation and Exchange" event kicked off on Aug 13 in Jinan, capital of Shandong province.

Representatives from government departments, business associations and enterprises in Shandong and Japan attended the event via online and offline channels. The event is designed to explore trends in China-Japan industrial cooperation under the RCEP, create a multi-level, long-term cooperation mechanism, and deepen the regional economic and trade cooperation between China and Japan.

On November 15, 2020, the Regional Comprehensive Economic Partnership agreement was signed, bringing benefits to Shandong in terms of free and convenient trade in goods, wider opening of trade in services and two-way investment expansion.

Japan, a member of the RCEP, is Shandong's fifth largest trading partner. Deepening economic and trade cooperation with Japan is one of Shandong's key opening-up objectives.

During his speech at the event, Li Ganjie, governor of Shandong, said that Shandong is ranked third in terms of economic volume in China.

For this event, Shandong province has identified 136 projects that would feature cooperation with enterprises and investors from Japan, said Li.

He suggested that Shandong and Japan should expand trade cooperation and forge a closer relationship. He also expressed hope that more Japanese enterprises will invest in Shandong.

"Shandong has a cluster of Japanese enterprises with a high export ratio. We will continue to explore the Chinese market including Shandong," said Nobuhiko Sasaki, CEO and chairman of the Japan External Trade Organization (JETRO), during a video conference.

Masaru Igawahara, consul general of Japan in Qingdao, said that Shandong has great potential for economic development and broad opportunities for cooperation with Japan in the fields of science and technology, agriculture, medical care, nursing, high-end manufacturing and environmental protection.

"Through this exchange meeting, I hope that Japan and Shandong can further deepen understanding, promote exchanges and welcome the 50th anniversary of the normalization of diplomatic relations between China and Japan next year," he said.

"As two major economies in the Asia-Pacific region, China and Japan play an important role in maintaining peace and stability in Asia and world economic prosperity," said Zhang Shenfeng, vice chairman of the China Council for the Promotion of International Trade.

The meeting reflects the common aspiration of China and Japan to seize the opportunities provided by the RCEP and deepen trade and investment cooperation, and demonstrates the determination and confidence of China and Japan in building a multi-tiered and regular exchange mechanism amid the pandemic, Zhang added.

Shandong and Japan have 19 pairs of friendship city relations and 21 pairs of friendly cooperative city relations. There are 1,377 Japan-invested enterprises in Shandong that have a combined investment of $11.29 billion and operating income of 123.24 billion yuan ($19.03 billion).

The event, hosted by the Shandong Provincial People's Government, the China Council for the Promotion of International Trade, and the Japan External Trade Organization (Jetro), will last until Nov 30.

A series of activities will be held via online and offline channels, including themed seminars, project match-making meetings, the Japan (Shandong) Import Commodities Expo and the Shandong Provincial Capital Economic Circle Cooperation Matchmaking Meeting with Japan.