CHINA Chinese premier calls for bringing China-Japan ties back to the right track


Chinese premier calls for bringing China-Japan ties back to the right track


05:33, May 10, 2018


Chinese Premier Li Keqiang delivers a speech as Japan's Prime Minister Shinzo Abe listens, during a banquet hosted by Abe in Tokyo, Japan, May 9, 2018 (Photo: Reuters)

Chinese Premier Li Keqiang called on China and Japan to stick to the principles of the four bilateral political documents and consensuses, and bring bilateral ties back to the right track on Wednesday.

Li made the remarks during his meeting with Japanese Prime Minister Shinzo Abe in Tokyo.

China-Japan ties are at a crucial stage for improvement, as this year marks the 40th anniversary of the signing of the bilateral treaty of peace and friendship.

Abe agreed, saying he wanted to establish the sort of relationship that allowed the leaders to easily visit each other. The prime minister mentioned earlier in the day that he plans to visit China this year.

The two leaders witnessed the signing of several cooperation documents, including a memorandum for an air and maritime contact mechanism, which has been discussed for decades with a goal to defuse maritime incidents that could ignite tension.

Read more: China, Japan to speed up preparations for air and maritime contact mechanism

Li also showed his support on the meeting between Japan and the Democratic People's Republic of Korea (DPRK), which is expected to take place soon. He hopes the anticipated meeting can solve the Japanese side's concerns and problems.

Li looks to push for high-level exchanges between the two sides

"This is the first time in eight years that a Chinese premier has made an official visit to Japan," Li said. "Eight years is a long time."

He acknowledged that the relationship between China and Japan had made some detours over the years. Li hopes his visit this time can promote high-level exchanges between the two sides while helping to maintain "long-term, healthy and stable" bilateral ties.

200 billion yuan worth of RQFII quota granted

China has agreed to grant Japan RMB Qualified Foreign Institutional Investors (RQFII) quota of 200 billion yuan (about 31.36 billion US dollars), according to Li. This offering would help Japanese financial institutions to actively invest in China's capital market.

The two sides have agreed in principle to sign a currency swap deal at an early date, and this will help safeguard financial market stability and promote investment facilitation, Li said.

The premier added that China holds a positive attitude toward establishing RMB clearing bank in Tokyo.

In addition, Li also pointed to energy efficiency, environmental protection, scientific and technological innovation, high-end manufacturing, finance, sharing economy, and gerontics services as key areas where China and Japan should enhance cooperation.

Read more: Premier Li: China to grant Japan 200 billion yuan RQFII quota

People-to-people communication should be strengthened

China granted Japan two crested ibis, an animal that is close to extinction and known for its low fertilization rate, during Li's visit.

Li said he hopes to see the birds, which are beloved by people from the two sides, can bring more friendship while boosting regional communication between the two sides.

Li also expressed his hope of seeing more efforts in people-to-people exchanges in various fronts including culture, education, sports, dialogues between young people, and tourism.

Premier Li arrived in Tokyo on Tuesday evening for an official visit and the seventh China-Japan-ROK leaders' meeting at the invitation of Abe.

The trip will last until May 11.

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