Professor Chen Zilei of the Shanghai University of International Business and Economics was invited to speak on the above topic in an online seminar for Keizai Koho Center member corporations.

The lecture began with a video message from Mr. Fu Jihong, Vice President of the Shanghai People’s Association for Friendship with Foreign Countries. He expressed his hopes for the further development of economic activities of Japanese companies in Shanghai.

Professor Chen Zilei explained Chinese government policies, the state of the Chinese economy, the current situation and outlook for China-Japan economic exchange, and other topics that were discussed at the Third Plenary Session of the 20th Central Committee of the Chinese Communist Party, an important conference of China which was held in July 2024. He stated that in the medium and long term, China will move forward in protecting the ecosystem and environment, improving corporate liquidity, and expanding the service sector. Regarding the Chinese economy, he explained that the “new three” industries of electric vehicles (EVs), lithium-ion batteries and solar cells have become the pillars of China’s exports, replacing traditional export industries, and that China is promoting the domestic production of various products. On the other hand, he pointed out that the real estate industry continues to face significant challenges. He also said that China and Japan should support economic exchange and cooperation in fields such as the green economy, including environmental and energy conservation, as well as medical care, nursing care, and healthcare.

During the discussion, a participant commented that while Chinese QR code payment services and debit cards can be used in Japan, Japanese payment services cannot be used in China and this situation is creating certain difficulties for tourists and business persons from Japan. Professor Chen responded by saying that the Chinese government has been working on the deregulation of these services for the past 10 years and expressed his view that in the near future, people in China will be able to enjoy similar services as those available in Japan, including transportation systems and convenience stores.