Tokyo financial forum lays foundation for economic cooperation

He noted that both countries could pursue deeper cooperation on common challenges arising from changes in their economic and social landscapes. For example, they could strategically align and institutionalize their efforts in industries such as healthcare and elderly care. Yang also suggested that China and Japan should explore further collaboration in formulating rules for international cooperation.

Huang Wentao, chief economist at CSC Financial, highlighted China's emphasis on expanding economic cooperation with foreign nations. Recent policy breakthroughs have included allowing and encouraging foreign institutions, particularly in the telecommunications and healthcare sectors, to enter the Chinese market. Through this institutional openness, China is facilitating high-level exchanges in trade, technology, talent and innovation, all of which contributes to its high-quality development.

China's 14th Five-Year Plan (2021-25) prioritizes the accelerated development of nine strategic emerging industries, including next-generation information technology, new energy and new materials. Huang pointed out that Japan holds leading technologies in these key areas.

He added that Japan's advanced and mature technologies in high-end manufacturing, innovative pharmaceuticals, healthcare, elderly care, electronics, carbon neutrality and modern agriculture provide a solid foundation for China-Japan cooperation. The future for collaboration is vast.

Additionally, Japan's successful experience with its long-term care insurance system presents a significant opportunity for cooperation between the two countries in the field of elderly care finance.

Hou Yunchun, former deputy director of the Development Research Center of the State Council, emphasized that the growing demand for healthcare, elderly care services and financial products among the elderly populations in both China and Japan, opens up broad opportunities for financial cooperation in the silver economy. He urged both governments to strengthen policy communication and coordination to provide solid policy support for this cooperation.