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CEOs of 200 Japanese companies to miss Beijing trip, a first since '12
The delegation of some 200 business leaders will skip the trip originally scheduled January 20, the Japan-China Economic Association said Wednesday. The groupcited challenges in securing meetings with Chinese officials and said no rescheduled date has been decided.
A prominent group of Japanese executives has put its planned visit to Beijing on hold, a sign that a diplomatic feud is chilling commerce between Asia's two largest economies.
The delegation of some 200 business leaders will skip the trip originally scheduled January 20, the Japan-China Economic Association said Wednesday. The groupcited challenges in securing meetings with Chinese officials and said no rescheduled date has been decided.
The move marks the first time in more than 13 years that a political standoff has disrupted the annual mission to promote economic exchange, signaling Beijing's continued frustration with Prime Minister Sanae Takaichi's comments on Taiwan. "Under the current state of Japan-China relations, we have made sustained efforts to make this delegation a reality," the association and organizer said in a statement. "However, we have found it difficult to secure sufficient exchanges with Chinese government agencies, including meetings with national leaders."
The trip has happened every year since 1975 except during the pandemic and 2012, when relations hit a low due to a diplomatic crisis over disputed islands in the East China Sea. That visit was postponed but eventually took place the next year.
Asked about the shelved trip, the Chinese Foreign Ministry repeated Beijing's condemnation of Takaichi's "erroneous" remarks.
Taiwan Brokers Freeze Buy Orders for China def Stocks, ETFs
Taiwanese brokers will stop taking buy orders for shares and exchange-traded funds linked to Chinese military companies, a sign of worsening tensions after Beijing conducted military drills near the island. The measure applies to stocks and ETFs traded through the Shanghai or Shenzhen stock connect links, according to a spokesperson from the Taiwan Securities Association.
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Source: EconomicTimes
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