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UPDATED: 10:04, September 17, 2004
China-Japan trade to hit new high for the 5th year in a row
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It is predicted that the trade between China and Japan will hit a new high in 2004 for the fifth year in a row.

The prediction was made by Mr. Wan Jifei, Chairman of China Council for the Promotion of International Trade (CCPIT) at the meeting held by Japan-China Economic Association on September 15 in Beijing to commemorate its 30 visits to China.

Wan said in 2003 the trade between the two countries set a new record of 133.6 billion USD which was more than 130 times as that in 1972. This record will very likely be refreshed this year as the volume reached nearly 93 billion USD for the first seven months .

The Chinese market gives a push-start to the Japanese economy. Japan's investment, the third largest source of capital influx into China, is still gaining momentum.

Mr. Watari Sugichiro, Chairman of the association was also present at the meeting. Japan-China Economic Association was established in 1972 when the diplomatic relationship between China and Japan was normalized. Its delegations with leading members from Japan's economic circle have visited China every year since 1975.

By People's Daily Online

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