The 36th China-Japan Economic Knowledge Exchange Conference is held in Changsha, Hunan, on April 12 to 13.[photo/drc.gov.cn]

The 36th China-Japan Economic Knowledge Exchange Conference, hosted by the Development Research Center of the State Council (DRC) and the Hunan government, was held in Changsha, Hunan, on April 12 to 13.

The conference set up three thematic units: "World Economic Situation", "China-Japan Economic Situation and Policy", and "China-Japan Economic and Trade Cooperation and Innovation". More than 100 delegates took part in the event.

Li Wei speaks at the conference.[photo/drc.gov.cn]

Li Wei, chief representative of the Chinese delegation and head of the DRC, stated in his concluding remarks that through exchanges and discussions representatives of China and Japan had reached consensus on the following five aspects.

First, recovery of the world economy requires further advancement of globalization and strengthening of international cooperation. Delegates of China and Japan have the same views on the current economic situation. They believe that the challenges of promoting a sustained recovery of the global economy are numerous, and there is still much to be done. For example, countries have to use their respective strengths to promote economic globalization, actively respond to challenges, and resolve outstanding conflicts and problems.

Second, the continued development of China, Japan and Asia needs to further strengthen bilateral cooperation. The delegates fully recognized the significance of Sino-Japanese cooperation for the two countries, for Asia and for the world at large. Many delegates mentioned that China is the second largest economy in the world while Japan is the third largest, and Japan has industrial advantages in the global economic structure. This shows that economic cooperation between China and Japan, as well as the economic development of the two countries, plays an important role in the development of the world. Therefore, everyone is looking forward to further strengthening of the cooperation between China and Japan.

Third, deepening Sino-Japanese economic and trade cooperation requires further innovation in its methods. In the new era, Sino-Japanese trade and economic cooperation should expand and innovate. The Belt and Road Initiative is an important opportunity.

Fourth, the economic development of China and Japan has shown a good trend. The sound foundation of China-Japan economic development provides the basic conditions for China and Japan to strengthen economic and trade cooperation.

Fifth, the trade dispute that the United States unilaterally started is contrary to the trend of globalization. At the conference, Japanese delegates shared their experience in dealing with trade friction with the United States in the late 1980s and the late 1990s.

Toshihiko Fukui speaks at the conference.[photo/drc.gov.cn]

Toshihiko Fukui, head of the Japanese delegation, said that the results of the conference exceeded expectations. The conference fully discussed the status quo and future of the world economy, the Chinese and Japanese economies, and reached consensus on that the world economy still maintains a sustained slow recovery.

There will be many problems in future development. Principles of free trade should be implemented so that the problems of trade friction can be overcome and trade development will continue to move in a good direction.

"The economic development of China and Japan has entered a new stage. How to innovate and carry out new cooperation will be the most important issue in the future," Fukui said, adding that China and Japan should enhance cooperation in cutting-edge technological innovation and Internet security.

The next China-Japan Economic Knowledge Exchange Conference will be held in Sendai City, Miyagi Prefecture, Japan in April 2019.