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'Difficult Moments' Predicted

BEIJING, Aug. 30 -- Chinese Vice Premier Wang Qishan said in Beijing Saturday that bilateral trade between China and Japan has recovered and now exceeds the level before the worldwide financial crisis.
Wang made the remarks at the opening of the third China-Japan high-level economic dialogue, which he chaired with Japanese Foreign Minister Okada Katsuya.
At the meeting, the two sides held discussions on promoting economic recovery and bilateral cooperation, as well as cooperation at regional and global levels.
The two economies are highly interdependent, said Wang, adding that mutual benefit and &quot;win-win cooperation&quot; remain at the core of Sino-Japanese economic relations.
The two countries had maintained sound cooperation in energy-savings, environmental protection, food safety, product quality and the creation of the China-Japan-ROK Free Trade Area, he said.
It was the first economic dialogue held between Japan and China since the Democratic Party of Japan took office, said Katsuya.
He spoke highly of China's contribution to the world economic recovery, calling on the two sides to forge a closer cooperative relation.
To improve China-Japan cooperation is conducive to boosting the two economies as well as the prosperity of the Asia-Pacific region and the world, it was noted.
After 30 years of development, China has become Japan's largest export market and the preferred overseas investment destination for Japanese manufacturing for 21 consecutive years.
China is undergoing rapid industrialization and urbanization and has huge market potential, said Wang.
He called on the two sides to wipe out various obstacles in bilateral trade and enhance cooperation in high-end manufacturing, energy-savings and environmental protection, information and communication, and quality management.
The two countries should strengthen East Asia financial cooperation and try to finish the joint research work on the China-Japan-ROK Free Trade Area in 2012, he said.
He also urged the two sides to promote the infrastructure interconnection in the East Asia region and enhance coordination on issues of international financial system reform, Doha-round negotiations and climate change.
He said China would firmly adhere to the policy of opening up and create a good investment environment for foreign-funded enterprises.
Increasing mutual understanding and trust are the preconditions of bilateral cooperation, Wang said, adding that the ongoing dialogue showed the increasing maturity of Sino-Japanese economic relations.
Before the dialogue, Katsuya had a meeting with Chinese Foreign Minister Yang Jiechi.
During their meeting, Yang said the dialogue would surely make a great impact on sustainable development of China-Japan strategic and mutually beneficial relations.
Katsuya said that his country was willing to enrich the relations through the in-depth discussions on international economic and financial situation as well as bilateral economic and trade cooperation.
The two sides agreed to hold the second meeting of the Fifth China-Japan friendship Committee for the 21st century in Tokyo and Niigata from October 30 to November 3.
The dialogue, jointly launched by Chinese Premier Wen Jiabao and then-Japanese Prime Minister Shinzo Abe, was first convened in 2007 in Beijing, with the second meeting being held in Tokyo in 2009.
On Saturday, the two sides signed seven documents on cooperation in such fields as logistics, education, forestry and food safety, among others. 
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