Chinese President Xi Jinping attended a welcome ceremony held by his French counterpart Emmanuel Macron at the Les Invalides in Paris on Monday.
Upon their arrival, President Xi and his wife Peng Liyuan were warmly greeted by President Macron and his wife Brigitte Macron.
The two heads of state stepped into the square and the military band played the national anthems of China and France.
Xi and Macron then reviewed the French Republican Guard and Guard of Honor, and watched the march-past.
Later, Xi and Peng shook hands with the main French officials. Macron and his wife shook hands with Chinese entourages respectively.
After the ceremony, Xi and Peng left for the Elysee Palace, escorted by a 148-member mounted squadron and the motorcycle squadron of the French Republican Guard.
Xi is on a state visit to France at the invitation of Macron.
Xi attends welcome ceremony held by Macron
Xi attends welcome ceremony held by Macron
Xi attends welcome ceremony held by Macron
The depreciation of the Japanese yen has pushed up raw material prices, and the rising costs is expected to bring a profound impact on companies that rely on imported raw materials, especially small and medium-sized enterprises (SMEs), said a Japanese economist.
Hisashi Imai, professor of the department of business of Yamanashi Gakuin University, shared his opinions on yen depreciation, saying that SMEs may be most impacted as they are often in a disadvantaged position.
"Both SMEs and large enterprises have been affected by the depreciation of the yen, and their costs are rising. It would be ideal if SMEs could pass on cost increases to prices, and sell products at corresponding prices. But this is not the case. SMEs are often in a weak position when it comes to transactions and are therefore the most impacted," he said.
Serving as important guarantee for Japan's employment, SMEs play an important role in the Japanese economy, Hisashi said, adding that if SMEs are in trouble, there will be a chain reaction on the entire economy and social stability of Japan.
"SMEs account for 99 percent of the total number of Japanese enterprises. Currently, Japan is facing cost-pushed inflation, where the rise of imported product prices is caused by yen depreciation," he said.
Hisashi believes that if the yen depreciation continues, the Japanese economy will face greater challenges as the country's economy is highly dependent on overseas countries.
"Japan is facing a serious problem that it lacks major industries which can support the future [development]. No matter what industry it is, whether it is a SME or a large company, it should create new values. For instance, a company should develop new products or invest in new products and manufacturing. This is very important to the Japanese economy," he said.
Yen depreciation brings long-term impact to Japan's SMEs: expert
