Chinese, Japanese firms can expand co-op in advanced industries: JCCIC president

China's huge and rapidly evolving market has many opportunities, and Chinese and Japanese enterprises can cooperate in advanced industries including automobile manufacturing, new energy and high-end equipment, as well as new business models, new consumption and future industries, Tetsuro Homma, president of the Japanese Chamber of Commerce and Industry in China (JCCIC) and executive vice-president of Panasonic Holdings Corp, told the Global Times on Wednesday.

Homma is attending the China International Import Expo (CIIE) for the seventh time this year.

"As president of the JCCIC, I keep telling foreign enterprises, especially Japanese companies, about how to seize opportunities brought about by the CIIE," he said.

"Through participation in the expo, we gain critical insights into emerging trends in the Chinese market. The expo provides a unique platform for strategic dialogues with local government officials who visit our exhibition booths. By presenting concrete scenarios and tailored solutions - rather than abstract descriptions - we can effectively demonstrate our future strategic plans, which is meaningful to us," Homma said.

In February, China issued an action plan to stabilize foreign investment this year. Under the plan, China will support pilot regions in implementing opening-up policies related to such areas as value-added telecommunications, biotechnology and wholly foreign-owned hospitals, providing whole-journey services for foreign-invested projects in these sectors.

"In the process of China's high-level opening-up, foreign enterprises see the determination of the Chinese government in continuously improving the business environment, while also playing an important role in deepening China-Japan economic and trade cooperation," Homma said.

He said that many large Japanese enterprises haven't sensed the Chinese market advancements until recently, for example, technological progress in artificial intelligence, vehicle electrification and autonomous driving. Over the past one and a half years, many Japanese companies started to adjust their strategies and resumed investment in the China market, he said.

"Chinese and Japanese enterprises can cooperate in advanced industries including car production, new energy and high-end equipment, as well as new business models, new consumption and future industries," he said.

The Chinese market remains critical for Japanese enterprises, even though Japan's direct investment in China fell further last year due to a mix of internal and external factors, according to the 2025 edition of the Blue Book of the Japanese Economy issued by the Chinese Academy of Social Sciences' Institute of Japanese Studies recently, the Xinhua News Agency reported on October 22.

The blue book noted that in 2024, the complementary nature of bilateral trade between China and Japan remained strong despite growing asymmetry in trade interdependence.

This year, China-Japan economic relations stand to advance cooperation, despite challenges such as rising protectionism, fragmented supply chains and sluggish economic growth, according to the report.

"Panasonic recognizes that China is not merely a manufacturing and consumption powerhouse, but an innovation and engineering powerhouse," Homma said, noting that the company will continue expanding its research and development workforce, particularly software developers, to achieve efficiency across the whole production process.

"For global manufacturing enterprises, China's cost efficiency and China speed is a valuable experience. Panasonic is striving to enhance its competitiveness in the Chinese market," Homma said.

This year, Japanese electronics firm Omron is attending the CIIE for the eighth time.

"The CIIE is not only a vital window for the world to share China's opening-up dividends but also a powerful engine driving industrial innovation and sustainable development. Over the past eight years, Omron was not only a witness but also a participant and active co-creator," Xu Jian, director and general manager of Omron China, told the Global Times.

By deploying digital, intelligent, and green solutions, we aim to contribute to industrial upgrading, the energy transition, and public health - synchronizing with China's developmental rhythm to co-create a sustainable future, Xu said.