The China-Japan economic and trade partner consultation mechanism was launched in Beijing Tuesday by China's Vice-Minister of Foreign Trade and Economic Cooperation, An Min, and Fujisaki Ichiro, Japan's Deputy Minister of Foreign Affairs.
According to the consensus reached by leaders of the two countries early this year, ministerial-level consultation is scheduled to be held annually by turn in the two countries.
Japan is China's largest trade partner, with US$62.9 billion of trade volume between them in the first eight months this year. By September 2002, Japan's actual investment in China stood at US$35.345 billion.
An said the consultation mechanism, which would influence Asian economic development and cooperation, would help bring about prompt solutions to bilateral economic and trade problems.
The economic and trade ties between the two countries had seen rapid development since the normalization of bilateral relations, Fujisaki Ichiro said.
In the long run, Japan and China need to strengthen coordination and exchanges, which benefited both countries as well as East Asia and the world, he said.
(Xinhua News Agency October 16, 2002)
