Several of the largest financial groups in Japan and a Chinese state entity plan to create a joint investment fund of at least 100,000 million yen (780 million euros / 890 million dollars), advanced today Japanese media.
The fund will be used to boost bilateral investments, and it is expected to be formally announced during the visit that Japanese Prime Minister Shinzo Abe will make since Thursday to China, according to sources close to the entities involved in the Japanese news agency. Kyodo
The Japanese financial group Nomura Holdings and the state fund of the Asian giant China Investment Corporation will lead this joint initiative, which would also be provided by Mitsubishi UFJ, Sumitomo Mitsui and Mizuho, three of the largest banks in Japan, said the Japanese economic newspaper. Nikkei
The fund is expected to mobilize the aforementioned initial amount of expandable money to 200,000 million yen (1,550 million euros / 1,700 million dollars), according to the same medium.
The official trip to China of the Japanese leader, the first of its kind in seven years, will focus on improving the bilateral relations of these neighboring countries and on strengthening the exchanges between the second world economy and the third.
The progressive opening of the Chinese market to foreign investments constitutes a very attractive opportunity for the business and financial sector of Japan, which in the domestic territory faces a situation marked by the demographic decline and the weak spending of households.