Japanese companies willing to expand in Chinese market

The Chinese path to modernization will provide broader growth opportunities for Japanese companies and the Chinese government to create a more favorable environment for global businesses investing in China, said the country's top commerce official.

During his meeting on Monday in Beijing with Yasuhiro Sato, chairman of the Japan-China Investment Promotion Organization and senior executives of a number of Japanese companies including Mizuho Bank Ltd, Panasonic Holdings Corp and Toyota Motor Corp, Chinese Commerce Minister Wang Wentao said China's fundamental policy is to remain open to the outside world, with its doors only widening further.

Wang said that China is currently advancing its path to modernization and accelerating the establishment of a new development pattern. Its modernization process involves a population of over 1.4 billion which will generate tremendous growth momentum for the world and provide huge market space and cooperation opportunities for businesses from various countries, including Japanese companies.

He said that the Ministry of Commerce will actively engage in regular communication with foreign companies and business associations, listen to their opinions and suggestions, promptly address and resolve their concerns, and offer better services for foreign businesses investing in China.

During the meeting, Sato said that China, as the world's second-largest economy, is an important overseas market for Japanese businesses, and the vast majority of its member companies are willing to expand and continue to invest in China.