China is expanding market access to bring more opportunities for win-win cooperation, Chinese President Xi Jinping said in Paris on Monday at the closing ceremony of the sixth meeting of the China-France Business Council.
Xi, together with French President Emmanuel Macron, attended and addressed the closing ceremony at the Marigny Theater in Paris.
"We are planning and taking major measures to comprehensively deepen reform, steadily expanding institutional opening-up, and further expanding market access and shortening the negative list on foreign investment, which will bring a broader market space for countries around the world, including France, and more opportunities for win-win cooperation. I welcome the French entrepreneurs here to take an active part in the process of Chinese modernization and share the opportunities brought by China's development," Xi said.
Xi arrived in Paris on Sunday for a state visit to France at the invitation of President Macron.
China expanding market access to create opportunities for win-win cooperation: Xi
China expanding market access to create opportunities for win-win cooperation: Xi
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
