Taro Aso, Japan’s Finance Minister stated last Tuesday that China and Japan is planning to hold discussions in Beijing regarding finance issues in June. Topics to be discussed may include like the Asian Infrastructure Investment Bank (AIIB), a China-led project.
The discussions will mark the very first bilateral dialogue about finance since 2012, when Prime Minister Shinzo Abe was in office. This was when diplomatic relations were strained between Japan and China regarding past East China Sea wartime and territorial issues.
The two countries held talks regarding finance 4 times already since the initial meeting last 2006. The talks aimed to deepen mutual financial cooperation, and included international bureau, tax, budget, and other bureau senior officials.
After a recent cabinet meeting, Aso also stated to reporters that there was no particular agenda for the June talks were announced yet, but certain issues and specific topics like the China’s yuan, AIIB, and shadow banking will likely be discussed.
Japan’s Prime Minister also added that China is already considered an up and coming major economic power country in Asia. When asked if the topics to be discussed will include the AIIB, Aso stated that they have relayed to China the same concerns. But all along, never received any response until March’s end.
In excess of 40 countries applied to be part of the AIIB, with Japan and the United States as notable absentees.
Image credit : Reuters