China, Japan to join hands against global crisis

Japan: China and Japan agreed on Sunday to collaborate in confronting the global financial crisis and promoting bilateral trade during a high-level meeting on economy-related issues.

The meeting was led by Chinese Deputy Prime Minister Wang Qishan and Japanese Foreign Minister Hirofumi Nakasone.

Japan and China rank second and third among world economies regarding their Gross Domestic Product.

In facing challenges posed by the crisis, it is necessary for both countries to put into practice agreements reached by the G-20 in their meetings in Washington and London, said Wang, who also highlighted the need to adopt more effective measures to secure financial market stability and help each other and global economy to regain growth.

Energy and environmental cooperation, trade and investment, as well as international economy-related issues were also discussed in the meeting.

This coordinating mechanism between China and Japan was created in 2007, with a first meeting held in Beijing in December that year.

In a separate meeting, Chinese Trade Minister Chen Deming and his Japanese peer Toshihiro Nikai also reached broad consensus on future cooperation, with both agreeing that this crisis should be turned into an opportunity and the spread of protectionism has to be prevented to make progress in the Doha Round negotiations, according to Chinese sources.

Tokyo, Prensa Latina