Tokyo financial forum lays foundation for economic cooperation

At a parallel forum, held in Tokyo on Friday during the Annual Conference of Financial Street Forum 2024, Chinese and Japanese experts agreed that the economic and financial cooperation between the two nations is built on a strong foundation with vast potential for growth.

Wang Changqing, chairman of CSC Financial Co Ltd, noted that the parallel forum aimed to deepen China-Japan economic and financial collaborations while jointly planning a roadmap for future developments. The objective of the forum was to create an efficient, open platform to foster mutual trust and cooperation in these sectors between the two countries.

Wang highlighted that China and Japan have long enjoyed a solid foundation for economic and financial cooperation. Since the early 1980s, following China's reform and opening-up, many Japanese financial institutions and companies established branches in China, with more Japanese counterparts expected to join the Chinese market.

He further pointed out that the two countries have ample opportunities for cooperation and complementary strengths in the fields of technological innovation and green economy. In particular, there is significant potential for deepening cooperation in carbon peaking and carbon neutrality, where both nations can share technologies and policy experiences to jointly advance green industry development.

In terms of digital economy and technological innovation, Wang emphasized that there are promising prospects for collaboration in areas such as artificial intelligence, big data, e-commerce and cloud computing.

He also noted that China's capital markets have made remarkable progress, and moving forward, these markets will continue to open up, enhancing their level of internationalization. The potential for greater capital market cooperation between China and Japan is set to grow.