Interview: Japanese enterprises try to find new business opportunities in China

"In face of the new situation of China's economy, Japanese companies are trying to find new business opportunities from it." said Shinji Maruyama, Director of International Division of Osaka Chamber of Commerce and Industry, in a recent interview.

With over 28,000 members, Osaka Chamber of Commerce and Industry (OCCI) is the largest comprehensive economic group in western Japan. It supports Japanese companies to carry out business activities overseas by providing business consultation and organizing seminars and business meetings. It also helps foreign companies to invest in western Japan.

According to Shinji Maruyama, China's economy exhibited new features in 2015, one of which is focusing more on quality of economic development than quantity. "Japanese companies are trying to adapt to the new situation and find business opportunities from it." he said.

"Though there were worries about an economic slowdown in China, a recent survey by the OCCI shows that most companies will stick to their Chinese business. The relationship between Japanese and Chinese companies are becoming mature," said Maruyama.

"For example, with China's per capita income increasing, labor costs in China are increasing. But it also means an increase of consumer demands and consumption capacity, which is a good opportunity for Japanese companies, especially companies of the service sector." he said.

"Japanese companies, especially those in the senior care industry, automation equipment design and manufacturing, as well as environmental protection industry, are hoping to rely on their technology and experience to expand cooperation with Chinese companies." he said.

In August 2013, the OCCI established the "Platform to Promote Japan-China Collaborations in Senior Care Industry."

"Over 130 Japanese companies have joined this platform by now, which shows Japanese companies have a huge interest in Chinese senior care market," he said.

"For the OCCI, it will be our main focus in the next two or three years to promote cooperation between Japanese and Chinese enterprises in the senior care industry." he added.

Meanwhile, Maruyama said that Chinese enterprises are also becoming more interested in investing in Japan.

"The Osaka Business and Investment Center (O-BIC) posted a record of 38 investments in FY 2014, the highest since its inception in 2001. Around 17 of them were from Chinese enterprises. In the first three quarters of FY 2015, there are already 18 investment cases from Chinese companies, exceeding the total number of FY 2014." said Maruyama.

O-BIC is a one-stop support center jointly established by the Osaka prefectural government, Osaka municipal government and the OCCI to promote foreign direct investment in Osaka.

"With the political relationship between Japan and China easing up, we hope trade and economic cooperation between the two countries to be more active in 2016," said Maruyama. Endit