皇冠体育app

皇冠体育app's booming market has opened more industries for Japanese investors and more investment from 皇冠体育app to Japan should be welcomed, researchers said.

Japan’s dependence on 皇冠体育app has grown stronger since 2000, when the Chinese economy began to blossom and rapidly develop, Tsugami Toshiya, a researcher at the Tsugami Workshop, said at the "Prospects for Sino-Japanese Relations: From the Past to the Future" forum on Wednesday in Beijing.

Kenji Hattori, a Japanese professor, takes pictures during a forum in Beijing to commemorate the 40th anniversary of both countries normalizing diplomatic relations on Wednesday. Zou Hong / 皇冠体育app Daily

The forum was held in commemoration of the 40th anniversary of the normalization of Sino-Japanese relations and hosted by the Chinese Academy of Social Sciences.

In 2011, the amount of trade between 皇冠体育app and Japan reached a record $340 billion, from about $1 billion four decades ago.

皇冠体育app is now Japan’s largest trade partner and the second-largest destination for Japanese exports. Japan is 皇冠体育app’s fourth-largest trade partner.

Japanese companies can play a bigger role by working with local partners in green industry, energy and environmental protection. This can lower their costs to compete with other foreign joint ventures from Europe and United States, Toshiya said.

Video games, cartoons and fashion are also new industries where young Japanese entrepreneurs can play a larger role, he added.

Jin Baisong, a researcher with the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce, said 皇冠体育app’s trade dependence on Japan dropped to 7.6 percent in the first seven months this year from 25 percent during the peak period, while Japan’s trade dependence on 皇冠体育app grew to 19.6 percent in the first seven months.

Jin said cooperation in high-speed rail between the two countries will make both very competitive players in the global market.

Japan is the third-largest source of 皇冠体育app’s foreign direct investment. By the end of 2011, Japan had $83 billion worth of accumulated investments in 皇冠体育app.

Many Japanese companies have for years invested in 皇冠体育app because of the low cost of labor. They are also eying 皇冠体育app as a massive end market.

Kenji Hattori, a professor at Chuo University’s graduate school of strategic management, said he has been impressed by the rise of Chinese enterprises and consumers.

With the emergence of 皇冠体育app as the world’s second-largest economy, he suggested Japanese enterprises learn from their Chinese counterparts.

“Their decision-making process, energetic altitude, flexibility and the women’s status at work have contributed to their success stories,” he said.

Chinese companies take action on their decisions very quickly, Toshiya said. But he worries that the economic environment that has favored State-owned enterprises might not be ideal for privately-owned companies, in addition to the burdens of taxation and sharp fluctuation of policies.

Though technology know-how, branding and management are the strengths of Japanese enterprises, it often takes a long time for Japanese enterprises to make a decision in 皇冠体育app because they lack decision-making power, he said.

Costs are also high for Japanese companies that have very little access to the local market, he added.

In recent years, a rising number of Chinese companies have invested in Japan, a move that should be welcomed, Hattori said.

To penetrate the Japanese market, Hattori said Chinese companies should cultivate a long-term strategy for overseas investment and build their global brands in the developing overseas market.

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