Li Keqiang Attends the 7th China-Japan-Republic of Korea (ROK) Business Summit
2019/12/24

On the morning of December 24, 2019, Premier Li Keqiang, President Moon Jae-in of the Republic of Korea (ROK) and Prime Minister Shinzo Abe of Japan attended and addressed the 7th China-Japan-ROK Business Summit in Chengdu, Sichuan Province.

Li Keqiang expressed, this year marks the 20th anniversary of the China-Japan-ROK cooperation. Over the past 20 years, practical cooperation among the three countries has progressed against the complex international situation, which corresponds with the trilateral common interests and people's well-being. As the current international situation sees profound and complex changes, China, Japan and the ROK should carry forward the spirit we displayed when we joined hands coping with the Asian financial crisis 20 years ago, make concerted efforts, build consensus and face the future. We need to further consolidate political mutual trust, expand practical cooperation, jointly face challenges, and make new contributions to regional and global prosperity and stability.

Li Keqiang pointed out, the three sides should jointly enhance the regional economic integration. As our three countries all support the negotiations on the Regional Comprehensive Economic Partnership (RCEP), we should carry out the consensus reached last month in Bangkok, press ahead without letting up, and build on the good momentum to ensure the signing of a formal agreement in 2020. The three sides should propel the negotiations on establishing the China-Japan-ROK free trade area for substantial progress at an early date, and resolutely safeguard multilateralism and free trade. We need to create new growth drivers in the modern service industry. China has a huge and upgrading market, of which the needs for elderly care, healthcare and nursery services are increasing. China is opening up further its financial sector. The restrictions on foreign ownership of securities, futures, fund and life insurance companies will be lifted earlier than previously planned. It will help the three countries jointly deal with challenges such as aging, hygiene and healthcare, and financial stability, and better achieve common development.

Li Keqiang said, based on the overall opening-up of the manufacturing industry, China will accelerate steps to open the service industry, enable wholly foreign-funded enterprises to enter more sectors and make the investment environment fairer, more transparent and predictable. China is committed to opening-up, and the door of opening-up will only open wider. We are dedicated to creating a market-oriented and internationalized business environment under the rule of law, and will treat enterprises with all types of ownership equally, and combat any intellectual property infringements. China is willing to tap into complementary advantages with the ROK and Japan, continuously expand cooperation based on market-oriented principles to make the pie of common interests bigger. As a Chinese proverb says, "One gets a better view of the moon-rise on the lake from a waterfront location." Enterprises from the ROK and Japan are welcome to seize new business opportunities in China's opening-up, seize more business opportunities and achieve mutual benefit and win-win results.

Leaders from the ROK and Japan said, the ROK and Japan spoke highly of China's reform and opening-up measures, and the active participation by the two countries' enterprises in China's reform and opening-up has brought mutual benefit and win-win results. Under the current situation, the three sides should give play to their complementary advantages, and jointly face challenges. The ROK and Japan are willing to, together with the Chinese side, safeguard free trade, lower trade barriers, and create a fair, just and predictable business environment for enterprises from the three countries. The three sides should work together to complete the signing of the RCEP as soon as possible, and promote negotiations on the China-Japan-ROK free trade area. We should seize the opportunities of the fourth industrial revolution, conduct innovation and technological cooperation in areas including digital economy and artificial intelligence, as well as strengthen the integration of development strategies, so as to achieve regional peace and prosperity and open up a bright future and a new era for Asia.

About 800 people from business circles and governments of the three countries attended the summit.