According to the data released recently by the General Administration of Customs of China, the total import and export trade between China and Japan will reach 317.538 billion US dollars in 2020, up 0.8% year on year. Among them, China imported 174.874 billion US dollars from Japan, up 1.8% year on year.
"The bilateral trade between Japan and China has maintained stable development on the whole, showing the vitality of bilateral economic and trade cooperation." Marukawa Zhixiong, a professor at the Institute of Social Sciences, Tokyo University, Japan, believes that Japan and China have close economic and trade exchanges. China is the only major economy in the world to achieve positive economic growth in 2020, which will play a positive role in Japan's economic recovery. As China continues to deepen reform and expand opening up, cooperation between the two countries in various fields will be further deepened and more achievements will be made. Kong Xuanyou, Chinese ambassador to Japan, said that under the impact of the epidemic, Global trade has shrunk, and it is very difficult for China Japan trade to grow against the trend, highlighting the strong resilience of economic and trade cooperation between the two countries.
According to the preliminary statistics released by Japan's Ministry of Finance in January, Japan's exports in 2020 will decrease by 11.1% compared with the previous year. However, due to the rapid recovery of China's economy, Japan's exports of non-ferrous metals, automobiles and plastics to China increased significantly, driving the annual growth of Japan's exports to China by 2.7%. Japan's exports to China accounted for 22% of its total exports, and China once again became Japan's largest export destination.
According to statistics, Japan's auto export to China will increase by 15.9% in 2020. Japan's Toyota Motor Company reported in January that its global sales in 2020 are down 10.5% from the previous year, but the Chinese market is up 10.9%. Thanks to the strong recovery of sales in overseas markets such as China, Toyota's global sales will return to the first place in the world in 2020.
Japan Economic News reported that China's rapid economic recovery and strong market demand exceeded the previous expectations of Japanese enterprises have brought good news to Japanese manufacturing enterprises. Canon, Yaskawa motor, Murata and TDK, the electronic parts manufacturer, have recently raised their performance expectations one after another.
Musashi Precision Industry Co., a Japanese auto parts manufacturer, will achieve double-digit growth in exports to China in 2020. Executives at the company said they expected the market share of related products such as pure electric vehicle parts to further increase in China. The company's sales of automotive glass exceeded expectations due to the steady recovery of China's auto market, and the shipment of high-performance glass screens for smartphones also increased, according to the subsidiary of glass giant Xuni. In addition, Japan's paper and paper products exports to China also increased by 26.6% in 2020.
Professor Kouchi yokosuke of Economics Department of Tokyo University believes that the good situation of Japan China trade has promoted the economic recovery of the two countries. In the face of the challenges brought by the epidemic situation and unilateralism and protectionism to the global economy, Japan and China adhere to multilateralism, will further tap the potential of cooperation, expand mutual benefit and win-win results, and "look forward to a new level of bilateral economic and trade cooperation.". "No matter how the international situation changes, the economic relations between Japan and China are very important." According to Yoshio Ribai, President of the Japan Association for the promotion of international trade, the steady growth of Japan China trade shows the importance and stability of Japan China economic relations.
Ding Hongwei, a researcher at the Economic Research Office of Beijing Japanese Studies Research Center of Beijing Foreign Studies University, said that China and Japan are highly complementary in terms of global industrial chain, supply chain and trade structure. In the future, the two sides will cooperate in automobile and parts manufacturing, semiconductors, precision instruments, automation, intelligence and other fields to open up a broader space.
