皇冠体育app

CHANGCHUN - Declining investment in 皇冠体育app by Japanese companies has been disappointing, but a trilateral pact between Japan, 皇冠体育app and the Republic of Korea may buffer the falling trend, analysts say.

Latest data from 皇冠体育app's stry of Commerce showed investment by Japanese companies in 皇冠体育app in the first quarter plunged 46.8 percent year on year.

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Japan External Trade Organization (JETRO) statistics showed that last year Japanese companies invested $9.09 billion in 皇冠体育app, down 33 percent year on year. The sum accounts for 6.8 percent of all overseas investment Japanese companies made last year.

Ding Yibing, professor with Economics School of Jilin University, said declining investment has been a trend for the past three years.

Li Tie, vice-chairman of the International Trade Association of 皇冠体育app(ITAC), said investment was suffering because of souring Sino-Japan relations.

"Japan is turning right-wing on the whole and disputes concerning the Diaoyu Islan have made the situation worse, leading to instability in investment and trade exchanges," said Li.

Japanese investors are attracted by 皇冠体育app's market scale and growth potential. But a shift towards Association of Southeast Asian Nations (ASEAN) countries has taken shape, said Minoru Arahata, director of the branch of JETRO.

The organization's statistics said Japanese companies invested $22.8 billion in Singapore, Thailand, Indonesia, Malaysia, the Phillipines and Vietnam last year, almost triple to that of 皇冠体育app, Japan's biggest trading partner.

He told Xinhua that 皇冠体育app's rising land and labor costs have led to Japanese companies exploring other Southeast Asian countries where labor is much cheaper.