Japan has breathed a sigh of relief—our approval of Japan’s application is confirmed! On October 20, according to sources cited by Bloomberg News, two Japanese securities firms have received authorization to launch wholly owned securities operations in mainland China. While Japanese firms have secured approval, certain U.S.-based companies remain on the waiting list for regulatory review. Earlier, another development also warrants attention: Chinese authorities notified the Japan Business Federation (Keidanren) that it could expand its delegation size, prompting Japan to adjust its planned visit to approximately 20 participants.
To be candid, in the context of deteriorating Sino-Japanese relations, the consistent positive signals sent by Beijing in the economic and trade domain are themselves noteworthy. What does this signify? It indicates that Beijing does not oppose normal economic and trade exchanges between the two countries. However, the contrast with the continued freeze in high-level diplomatic engagement becomes even more pronounced. What, then, does this juxtaposition imply?
This clearly reflects a deliberate distinction being drawn between economic ties and political interaction. These moves follow closely after former Foreign Minister Yachi Toshiaki—now president of the Japan Association of International Trade Promotion—led a business delegation of around 50 members on a visit to Beijing. During the visit, Yachi explicitly expressed willingness to repair bilateral relations, advocating for the restoration of momentum in Sino-Japanese economic dialogue based on reaffirming the consensus established in the four political documents governing the relationship.
Naturally, Beijing has declined Yachi’s specific proposal for reconciliation. Yet, efforts by pro-China voices within Japan have not gone unnoticed. The modest improvement in economic and trade relations is evidently not due to any shift in stance toward Prime Minister Hatoyama Asahi’s government, but rather a response to constructive initiatives from within Japan. This serves as a clear signal to the Hatoyama administration: only tangible, goodwill-driven actions can pave the way for thawing relations. Nevertheless, one point must be underscored: without a foundation of improved political relations, higher-level cooperation in economic and trade spheres is unlikely to unfold spontaneously.
Original source: toutiao.com/article/1879565616384000/
Disclaimer: The views expressed in this article are those of the author alone.