On June 5, 2021, China Finance 40 Forum (CF40) and Nomura Research Institute (NRI) jointly held the 11th China-Japan Finance Roundtable online with the theme of “The Chinese and Japanese Economy in the Post-Pandemic Era”.
After Covid-19 plunged the world economy into recession, China and Japan have respectively introduced the dual circulation drive and the growth strategy, with shared priorities of stimulating domestic demand, rebuilding the supply chain, and boosting innovation. What opportunities for cooperation exist for the two economies? How can they cope with the accelerating restructuring of the global supply chain? In addition, both countries are striving to build a low-carbon society as part of their long-term strategy for sustainable development. On this front, what progress has been made in theoretical research and practice on green finance? How can the financial sector play a better role in enabling the green transformation? What international experiences can they draw on, and how can the two countries work together in this common endeavour? Experts at the two-session event provided some food for thought on these critical policy issues.
The first session focused on China’s dual circulation strategy and Japan’s growth strategy, with four keynote speakers, Yu Yongding, CF40 Advisor and Academician at the Chinese Academy of Social Sciences (CASS), Gao Shanwen, member of CF40 Academic Committee and chief economist at Essence Securities, Motoshige Itoh, Professor Emeritus at the University of Tokyo, Professor of International Social Sciences at Gakushuin University, and former member of the Council on Economic and Fiscal Policy of Japan, and Hajime Takada, Chairman and Executive Economist of the Global Research Center at Okasan Securities Co., Ltd,. Wang Haiming, CF40 Secretary-General, moderated the session.
The second session discussed green finance and sustainable development of the two countries. Among the speakers were Xu Zhong, CF40 Member and Deputy Secretary-General of the National Association of Financial Market Institutional Investors, whose remarks revolved around “High-Quality Development of Green Finance in China: Practice and Methodology”, and Hiroshi Okada, director of the strategy development division at the Financial Services Agency of Japan.
Tetsuya Inoue, Chief Researcher of the Nomura Research Institute, moderated the second session.