News On Japan

Japan's Delegation to China Hits Snag on Seafood Trade

BEIJING, Jan 26, 2024 (News On Japan) - The delegation from the "Japan-China Economic Association," currently visiting China, met with Commerce Minister Wang Wentao on Thursday afternoon, requesting the lifting of China's import ban on seafood, but failed to gain any commitment from the Chinese side.

Japan's Delegation to China Hits Snag on Seafood Trade

The delegation is visiting China for the first time in four years, and following their morning meeting with Prime Minister Li Qiang, they exchanged views with Commerce Minister Wang Wentao, who is responsible for trade. During the meeting, Mr. Kobayashi, the head of the Japan Chamber of Commerce and Industry, called for the lifting of China's import ban on Japanese seafood and the reinstatement of visa exemptions for short stays for Japanese citizens as before the pandemic. Furthermore, Mr. Tokura, the chairman of Keidanren (Japan Business Federation), argued that it is necessary to dispel concerns held by Japanese companies, such as those related to the revised "Anti-Espionage Law," in order to expand investment.

According to the Japan-China Economic Association, although Minister Wang made statements such as "There is no change in the direction of opening up to the outside world. High-quality development is indispensable," there was no mention of specific measures, and the discussions remained at an impasse.

Source: NHK

News On Japan
POPULAR NEWS

Large Typhoon No. 25 was moving northwest over waters south of Japan at 3 p.m. on September 19 and is forecast to strengthen as it approaches Kanto and the Izu Islands from September 20 through September 21, bringing the risk of torrential rain, violent winds and further damage in areas still recovering from last year's typhoon.

A black bear has been spotted near one of the most popular hiking trails on Mount Takao in western Tokyo, prompting authorities to urge visitors to take precautions ahead of the five-day Silver Week holiday and the approaching autumn foliage season.

Starbucks is considering selling a majority stake in its Japanese business, potentially valued at as much as $3 billion, or about 470 billion yen, as the U.S. coffee chain seeks to concentrate management resources on its struggling North American operations.

Japan's Halloween Jumbo Lottery went on sale nationwide on September 16, offering a combined top payout of 400 million yen for the first prize and its adjacent-number prizes.

A new top-tier "Supreme Class" offering fully private compartments above the level of Green Car service will debut on the Tokaido and Sanyo Shinkansen on October 1, with passengers able to experience the new seating at a demonstration booth at Shin-Osaka Station.

MEDIA CHANNELS
         

MORE Business NEWS

The yen strengthened by more than 1 yen against the dollar in a short period late on September 18 after the Bank of Japan conducted a rate check, a step commonly taken in preparation for possible intervention in the foreign exchange market.

Tokyo stocks rose sharply on September 18, with the Nikkei 225 climbing to around 65,350 in afternoon trading after the Bank of Japan raised interest rates to 1.25%, as the yen weakened and investors bought artificial intelligence and semiconductor-related shares.

The Bank of Japan raised its policy interest rate from 1.0% to 1.25% on September 18, lifting borrowing costs to their highest level in 31 years as policymakers moved to contain growing inflation risks, but the yen weakened sharply after the decision as markets focused on two dissenting votes and uncertainty over the pace of further increases.

A market spread is generally the difference between two market prices. Most commonly, traders use the term to describe the bid-ask spread: the difference between the highest price a buyer is currently prepared to pay and the lowest price a seller is prepared to accept.

Tokyo stocks rose on September 17, with the Nikkei 225 closing at 64,136, up 213.25 points, as investors bought selected technology, pharmaceutical, insurance and consumer-related shares after the Federal Reserve’s rate hike, though gains were capped by a stronger dollar, renewed yen weakness and caution before the Bank of Japan’s policy decision.

Hakone, one of the Kanto region's most popular tourist destinations, has been left with just two operating gas stations after a series of closures, prompting the town to provide more than 10 million yen in subsidies to help reopen a shuttered facility.

Japan's Halloween Jumbo Lottery went on sale nationwide on September 16, offering a combined top payout of 400 million yen for the first prize and its adjacent-number prizes.

Japan's National Tax Agency is preparing a major overhaul of the way unlisted shares are valued for inheritance tax, a reform that could significantly affect business succession at profitable, asset-rich companies and would mark the first fundamental revision of the rules since they were introduced in 1964.