Japan’s Kansai Economic Delegation Meets China Vice Premier, Confirm Cooperation; China Called to Expand Domestic Demand

By Kazuki Sato and Fukutaro Yamashita / Yomiuri Shimbun Staff Writers

15:52 JST, November 28, 2024

BEIJING — A delegation from seven economic groups in the Kansai region, including the Kansai Economic Federation (Kankeiren), confirmed with Chinese Vice Premier He Lifeng cooperation on improving and strengthening Japan-China ties on Wednesday during its visit to Beijing.

Other Japanese economic organizations, including Keidanren (the Japan Business Federation), have also been sending delegations to China.

During the meeting with He at the Great Hall of the People, Kankeiren Chairman Masayoshi Matsumoto, who also chairs Sumitomo Electric Industries Ltd., said, “We hope that [China] learns from the deflation that Japan experienced over the past 30 years.” The chairman called on China to expand domestic demand to improve its business environment.

The vice premier expressed his hope for the relationship to develop in a mutually beneficial manner.

As the vice premier in charge of the economy, He has considerable authority over industrial and trade policy.

After the meeting, Matsumoto said, “Japan’s gross domestic product has fallen to a quarter of China’s, but we were able to meet with a key figure in the Chinese government.”