At a crowded event, the Japan Association for the Promotion of International Trade, Mitsubishi Corporation, Itochu Corporation, and Rakuten Group, Inc., among over 50 Japanese enterprises and institutions, flocked to a “Hainan Free Trade Port Policy and Investment Opportunity Briefing” in Tokyo, Japan on Dec. 6.

“The Hainan merchants group is the first Chinese merchants group to visit the Mitsubishi headquarters in the past three years,” said Tetsuya Shinohara, a senior vice president of Mitsubishi Corporation. “After hearing the introduction of the construction of Hainan Free Trade Port, we are thrilled.”

Mitsubishi is very optimistic about the Hainan market, and its affiliated Lawson convenience chain stores have already expanded to over 100 in Hainan province, he said.

Besides Tokyo, the Hainan merchants group to Japan also held business and investment promotion briefings in Osaka and Fukuoka, attracting many Japanese enterprises and institutions, some even from far away, to come and attend the sessions.

China’s policies and measures of advancing a high-level opening-up and providing a more market-oriented, law-based, internationalized business environment have made the country a magnet for Japanese enterprises seeking more business opportunities and profits.

 

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“The Regional Comprehensive Economic Partnership (RCEP) taking effect this January has provided opportunities for Japanese companies to expand trade with China,” said Kenji Imamura, director of Kansai Head Office of the Japan-China Economic Association, adding that China’s geographical advantages and favorable policies serve as a bonus for Japanese enterprises investing and doing business in China.

In recent months, governments and enterprises from China’s Hainan, Jiangsu, Zhejiang, Guangdong and Shandong provinces, among others, have been racing to expand markets and trade overseas, especially in the Asia-Pacific region.

At the Cosmoprof Asia 2022 Singapore Special Edition, more than 200 Chinese companies joined the exhibition, showcasing a wide range of products and services, including beauty salons, personal care, subcontract production, and packaging.

Wu Jiang, chairman of Beauty Yaurient Cosmetics Accessories (Shenzhen) Co., Ltd, told Xinhua that he had just finished negotiating with an Indonesian client. Centering around a green and eco-friendly concept, his company mostly uses degradable materials and environmentally-friendly techniques to produce cosmetic brushes.

“We have contacted clients from Japan, the United States, Thailand and other countries during the exhibition period,” Wu said. “We hope to find more business opportunities through this event and expand to markets in Southeast Asia, the Middle East and Oceania.”

As an important trade partner of Jinhua, Ningbo and other cities in China’s Zhejiang province, Indonesia has absorbed nearly 3.5 billion U.S. dollars from Jinhua’s enterprises alone. Earlier in December, China(Jinhua)-Indonesia Economic and Trade Fair and China(Ningbo)-Indonesia Economic and Trade Matchmaking Conference were held in Indonesia’s Jakarta.

“Zhejiang’s enterprises have invested heavily in Indonesia and have earned solid profits, while at the same time creating a large amount of employment opportunities and tax revenue for Indonesia,” said Wu Jinbin, president of the Zhejiang Chamber of Commerce in Indonesia. “This is a successful implementation of the Belt and Road Initiative in Indonesia.”

Flora Tedjo Prawiro, executive director of the Indonesia Retail & Tenant Association, said, “Indonesia has a population of 270 million, and Chinese commodities have always enjoyed a huge popularity among Indonesian customers, thus the market potential is huge.”

She said the Indonesian business community yearns for more investment from Chinese enterprises, so as to further frequent trade exchanges and realize mutual benefits and win-win cooperation.

For 13 consecutive years, China has remained Malaysia’s top trade partner. Malaysian Transport Minister Anthony Loke Siew Fook said a large number of high-quality, professional and cutting-edge Chinese enterprises have entered Malaysia, injecting vitality and hope into Malaysia’s development and prosperity.

“Malaysia will keep deepening the Belt and Road communication and cooperation with China. Malaysia-China trade can’t prosper without the active participation and contribution of Chinese enterprises,” he noted.

For Zhao Bin, president of the Thai-Chinese Rayong Industrial Realty Development Co., the fact that several merchants groups from China’s Zhejiang province have negotiated with him about visiting Thailand around New Year’s Day for investment possibilities is very good news.

“We are actively preparing for the Chinese enterprises’ visits and future cooperation,” he said.

“China is not only the world factory, but also the fastest-growing consumer market in the world,” said Koh King Kee, president of the Center for New Inclusive Asia in Malaysia.

With the boost of regional economic cooperative treaties such as the China-ASEAN Free Trade Area and the Regional Comprehensive Economic Partnership, China and ASEAN can jointly build a super-large China-ASEAN dual circulation by expanding production capacity cooperation and extending the production and supply chains, he suggested.

Originally published by Xinhua