The small circle between China, Japan and South Korea has injected impetus into economic recovery

While the global spread of coVID-19 remains grim, China, Japan and the ROK took the lead in bringing the epidemic under control. The three countries can take advantage of this opportunity to carry out economic and trade cooperation and build a small circle of China-Japan-ROK cooperation, which is conducive to the economic recovery of the region. To make China a better understanding of current China, Japan and South Korea economic and trade cooperation situation, help the SBC to formulate reasonable strategies, China, Japan and South Korea tiny to make use of the crisis into opportunities, June 9, China's trade newspaper zhongmao international think-tank platform held the theme of "the enterprise how to use" trilateral tiny turn the crisis into an opportunity for the economic and trade online roundtable lounge.

The meeting shall be presided over by Chinese trade newspaper editor-in-chief Fan Peikang, ambassador to South Korea's chief representative ccpit xiao-jun Yang, ccpit's Japanese representative JuWenYong, institute of international trade ccpit research Zhou Jinzhu, ccpit expert committee, deputy director of the Shanghai international trade center for a group of guests such as executive director of strategic research institute and yao, around Japan, South Korea epidemic prevention and control and the economic recovery, trade and investment opportunities and risks, China, Japan and South Korea economic and trade relations, the opportunities and challenges facing the tripartite cooperation, as well as the enterprise, how to use the China, Japan and South Korea to tiny change the crisis into an opportunity for To better expand the market and other topics for in-depth exchange and discussion.

The small circle of China, Japan and South Korea is a region

Economic recovery provides a model

"China, Japan and the ROK have achieved remarkable results in epidemic prevention and control. The three countries have taken the lead in promoting the resumption of work and production, which will provide important impetus to regional economic recovery and play a positive role in maintaining global economic stability." Zhou Jinzhu said, as the world's major economies, China, South Korea and Japan more than one 5 of the total global GDP, in east Asia, South Korea and Japan is a very important part of value chain, between the three countries have built very close and strong collaboration system, the three economies are highly complementary, economic community has been formed as a matter of fact, under the background of impact outbreak of the global economy, the three countries to strengthen economic and trade cooperation is particularly important, for the flow of east Asian regional economic cycle provides a very favorable conditions. The small circle in East Asia and Northeast Asia has also filled the temporary gap in part of the industrial chain and supply chain in overseas markets due to the epidemic.

"While the global epidemic is still spreading, China, Japan and the ROK took the lead in bringing the epidemic under control, which has boosted the confidence of the international community." Yang xiaojun said that since the outbreak of the epidemic, China, Japan and The ROK have cooperated closely on epidemic information, prevention and control measures and entry-exit personnel management, forming a joint force for prevention and control, thus effectively curbing the proliferation of novel Coronavirus in the region and setting a model for the global epidemic response. He positive affirmation of the role of China and South Korea to establish "quick passage", "based on the general situation of the two countries, through close cooperation, under the premise that ensure the epidemic prevention and control, in the worldwide, the first to open the fast passage, it is a pioneering work in cooperation deepen international anti epidemic, China and South Korea to facilitate the important enterprise to return to work and production personnel exchanges, believe that through the joint efforts of both sides, personnel exchanges between the two countries will be more smooth, regional and even global industrial chain, the operation of the supply chain will also be more stable, open, to the international multilateral cooperation mechanism will also play a positive demonstration effect."

"In recent years, China-Japan relations have been developing steadily, which provides a good foundation for the further development of bilateral economic and trade relations. In particular, in the joint fight against COVID-19, the local governments and civil society of the two countries have formed a good interaction and brought closer the relationship between the two peoples, which has created a better environment for the further development of China-Japan economic and trade cooperation. After the end of the epidemic, regional economic cooperation is likely to become a new highlight of China-Japan economic and trade cooperation." JuWenYong said that Japan's outbreak has been effectively, the Japanese government announced on May 25 to lift the state of emergency, also hammered out "to prevent the outbreak of COVID - 19 to expand and maintain social economic activity," the basic policy, will improve the level of social economy in stages and encourage enterprises in order to carry out business activities, social and economic activities gradually restart, predictably, economic and trade exchanges between China and Japan will also be gradually restored.

"China-japan-rok economic and trade cooperation will become a stabilizer of North America, East Asia and even the global value chain. It will also become a major driver for win-win economic cooperation among the three countries and world economic recovery." In Mr Yao's view, China cannot do without the supply of components from Japan and South Korea, and the market for its final goods is Europe and the US. According to the Asian Development Bank, from 2010 to 2018, China imported 74% intermediate products and exported 52% final products. China, Japan and the ROK are hubs for global resource allocation. He suggested that binding clauses should be added to the FTA negotiations to stabilize regional production networks to ensure the normal operation of industrial and supply chains under the impact of risks. It is of great significance to speed up negotiations on the China-Japan-ROK Free Trade Area Agreement, which will contribute greatly to world economic stability.

Actively responding to challenges and strengthening economic and trade cooperation among the three countries

Against the backdrop of the pandemic, China-Japan-ROK economic and trade cooperation is also facing challenges. First of all, the COVID-19 epidemic has impacted the global economy and led to the rise of nationalism-orientation. The priority for all countries is to prevent and control the epidemic and restore their own economies. Second, as both The ROK and Japan are Allies of the US, the instability of China-Us relations will have a negative impact on trilateral cooperation. Facing the current difficulties and challenges, he said that the development of China, Japan and the ROK has all benefited from economic globalization and the cooperation between the two countries is still the trend of The Times. The three countries should uphold a responsible attitude, firmly support economic globalization, make every effort to eliminate the negative impact of trade protectionism and unilateralism on the region and the world, and continue to contribute to the stable growth of regional and global economies.

Participants noted that the industrial chains of China, Japan and the ROK are highly complementary, and the opportunities for economic and trade cooperation outweigh the challenges. At the same time, China's continued opening-up will provide more opportunities for the expansion of economic and trade cooperation between the three countries.

"In recent years, manufacturing service, service outsourcing, digital, high-end, integration trend of the development of increasingly apparent, as the binder of value chain and the important of production inputs, trade in services to expand the benefits of open will gradually penetrate to other departments, professional services, business services, communication services, financial services, transportation services, and other fields to relax market access and lower prices will further improve the production efficiency of manufacturing. The degree of cooperation and integration of China-Japan-ROK trade in goods has been very close. In the future, China, Japan and the ROK can increase cooperation in service trade, which will help upgrade the new round of consumption structure and industrial structure." Zhou jinzhu said that this year's Chinese government work report has clearly proposed to introduce a negative list of cross-border service trade, which means that the market access of China's service trade will be greatly relaxed step by step and the restrictions on cross-border delivery, overseas consumption and movement of natural persons will be lifted, and foreign investment will be both allowed and allowed to operate in the service industry. Therefore, China, Japan and the ROK can give full play to their respective advantages and jointly develop emerging services. In addition, China will continue to shorten the negative list of foreign investment this year to provide more opportunities for Japanese and Korean companies to enter China.

Yang said that the construction of a free trade port in Hainan will bring huge trade and investment cooperation opportunities to companies from all countries including Japan and the ROK, and also provide new opportunities for China-Japan-ROK cooperation in the new environment. Moreover, companies from China, Japan and the ROK can strengthen cooperation in health care, intelligent manufacturing and 5G to create new economic growth points.

"China has a complete industrial structure and a huge market, while many of Japan's smes have high-quality and secure services, brand strength and technological advantages. There is vast space for cooperation between China and Japan in bilateral trade, bilateral investment, finance and third-party markets." Ju said the digital economic cooperation between China and Japan will have great potential in the post-epidemic era. The epidemic has accelerated the digitalization of Japanese society, and telecommuting, online education and digital business operation have also become the new normal of Japanese society. China is a leader in the digital economy, with advanced technology and business models. In addition, there is great potential for cooperation between China and Japan in such areas as energy conservation and environmental protection, tourism, modern agriculture, food safety, disaster prevention and mitigation, and coping with aging society.

In order to help Chinese enterprises to better expand the Market in Japan and South Korea, Yang Xiaojun put forward several Suggestions. First of all, they should have excellent technology or products in their fields and a high level of service. Secondly, before entering a new market, we should conduct in-depth research, fully understand relevant industry and investment policies and regulations, and do a good job in risk assessment. Thirdly, the FTA between China and South Korea can be effectively used to expand the Korean market or carry out cooperation with Korean enterprises. Finally, we should strictly abide by local laws and regulations, do business legally, and actively give back to the local society to achieve mutual benefit and win-win results. Zhou jinzhu also said that enterprises should do a series of due diligence before going out, which can help enterprises avoid risks and reduce unnecessary costs.

Yao Weiqun believes that the government needs to set up a platform to promote enterprise cooperation, so as to supplement, strengthen and extend the chain through cooperation. To give full play to the role of leading enterprises, leading enterprises can establish a stable supply chain relationship and provide more cooperation opportunities for smes.

"China, Japan and the ROK enjoy geographical proximity and cultural affinity, and the trilateral cooperation mechanism will be constantly strengthened. On the basis of stable epidemic prevention and control, the three countries will open the road of economic and trade cycle, promote world economic recovery and inject confidence and vitality into economic and trade cooperation." "Said Ju.