Recently, Chinese Minister of Commerce announced that Sino-Japan trade value reached around US $106.79 billion in the first half of 2007, making the country the largest trading partner of Japan for the first time.
Experts believe that as the current pan-Asian economic integration is entering a new phase, increasing frequency of Sino-Japan trade activities will be marked as important steps.
Since 1980, China and Japan have agreed to cooperate in economic and trade sectors. Since then, trade volume has increased from $9.4 billion to $207.3 billion in 2006, showing a growth of nearly 2,200 percent.
Statistics predict that Sino-Japan bilateral trade volume would exceed $300 billion by 2010.
According to the data revealed by Japan's Ministry of Finance, trade with China accounts for 17.65 percent of the country's total trade dealings, thereby ranking first. The US stands next at $100.06 billion, South Korea at $38.01 billion and Taiwan at $29.91 billion.
In terms of purchasing power parity (PPP) of International Monetary Fund, China and Japan — which rank as number two and three in world economies respectively — together account for 82 percent of pan-Asian GDP.
Fibre2fashion News Desk - China
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