Japan And China Plan Joint Development Assistance

Japan and China plan joint development assistance

After 40 years, Japan's official development assistance to China is coming to an end now that China is the world's second largest economy. The two nations are instead aiming to work together as equal partners in providing economic support to other countries.

At a summit last October, the leaders of both nations agreed to stop commitments to assistance for new projects as of the current Japanese fiscal year through March.

The two governments plan to hold the first meeting in Beijing as early as April to discuss how they can cooperate on an equal footing.

The participants in the talks on both sides are likely to include officials at bureau-chief-level from ministries and agencies involved in economic cooperation. The discussions will mainly focus on the kinds of economic assistance they will provide to third countries.

China has provided huge sums of money to other nations in the form of loans for infrastructure projects as part of its Belt and Road initiative, designed to create a large economic zone.

Some observers say the loans have become a burden for the countries receiving the assistance.