Guangzhou to boost trade cooperation with Japanese firms

Guangzhou in Guangdong province has vowed to provide better services and new development opportunities for Japanese-invested companies based in the city.

Japanese companies have made great contributions to the development of Guangzhou’s major industries, such as automobiles, HD displays and modern services, said Chen Zhiying, deputy secretary of the leading Party members group of the Guangzhou municipal government at a meeting between the government and the companies.

More than 50 senior representatives from over 30 Japanese-funded firms including 13 Fortune Global 500 companies, such as Mitsui & Co., Ltd. and Mitsubishi Corporation, attended the meeting on Tuesday.

Keiji Kamei, consul general of Japan in Guangzhou, expressed his expectation for further communication and cooperation with Guangzhou in the fields of COVID-19 control and prevention, urban development, customs clearance of goods, trade and education.

In the first three quarters of this year, 24 Japanese-invested companies were registered in Guangzhou, up by 50 percent year on year.

During the same period, the total volume of imports and exports between Guangzhou and Japan reached $11.35 billion, with an increase of 6.95 percent year on year.

Next year marks the 50th anniversary of the normalization of Sino-Japanese diplomatic ties and it will also see the Regional Comprehensive Economic Partnership (RCEP) come into effect, which will undoubtedly create more development opportunities for Japanese-invested firms in Guangzhou, added Chen.

Amid the COVID-19 pandemic, Guangzhou has issued a series of supportive policies to help oversea-funded companies alleviate pressure and assist in recovery.

The activity, co-hosted by Guangzhou city, Consulate-General of Japan in Guangzhou, Japan Chamber of Commerce and Industry and the Guangzhou office of Japan External Trade Organization, has been held eight times since 2013.