Tokyo, March 22, 2025 – The Europe Today: Chinese Foreign Minister Wang Yi and his Japanese counterpart Takeshi Iwaya co-chaired the sixth China-Japan High-Level Economic Dialogue in Tokyo on Saturday, reaffirming their commitment to bolstering bilateral economic ties and addressing global economic challenges.
Wang Yi, who also serves as a member of the Political Bureau of the Communist Party of China Central Committee, highlighted that since the normalization of diplomatic relations, bilateral trade between China and Japan has surged over 300 times. For the past 15 years, bilateral trade has consistently remained at a substantial level of 300 billion U.S. dollars, with accumulative bilateral investment nearing 140 billion U.S. dollars.
Underscoring the significance of these economic achievements, Wang stressed that China and Japan are partners rather than rivals. He called for both nations to establish a correct understanding of each other amid the evolving global economic landscape, rising unilateral protectionism, and setbacks to economic globalization.
Wang outlined four key areas of future cooperation:
- Transformation and Upgrading of Economic and Trade Cooperation: Both countries should pursue strong partnerships for mutual success while addressing each other’s concerns in a balanced manner.
- Strengthening Regional and Multilateral Cooperation: Upholding Asian values, both sides should advocate for openness over isolation and inclusiveness over exclusiveness.
- Promoting Industrial and Supply Chain Stability: Efforts should be made to prevent the politicization of economic security, thereby maintaining stable and smooth industrial and supply chains.
- Expanding New Areas of Collaboration: Both nations should encourage enterprises to cooperate in cutting-edge fields such as artificial intelligence, the digital economy, energy conservation, environmental protection, and green trade. Additionally, enhancing cooperation in the medical and elderly care industries will foster a robust “silver economy.”
Furthermore, Wang called for expanding third-market cooperation to benefit the Global South, supporting each other in hosting major international expos, and promoting regional integration through the China-Japan-Republic of Korea Free Trade Agreement and the Asia-Pacific Free Trade Area.
He emphasized the importance of enhancing government-business communication, eliminating discriminatory restrictions, and leveraging the China-Japan economic partnership consultation mechanism to address market access issues.
Concluding the dialogue, Wang noted that the meeting had enhanced mutual understanding and confidence in bilateral cooperation. He stated that the dialogue, held at a time when unilateral protectionism is rampant, sent a powerful message advocating for a free trade system, adherence to international trade rules, and alignment with economic globalization.
Both sides expressed their commitment to further broadening cooperation horizons and exploring new opportunities to enrich the strategic relationship of mutual benefit between China and Japan.
