Downtown area in Wuxi. [Photo/Wuxi Daily]
Cooperation between Wuxi and Japan over the years can be summarized in three words: collision, interaction, and win-win results.
Both sides have achieved fruitful results in economic cooperation, extensive cultural exchanges, and convenient transportation.
Japan has become Wuxi's second largest trade partner with a trade value of $10.68 billion last year.
The country is also one of Wuxi's most important cooperative partners. Since the first Japanese-invested company, the Wuxi Grand Hotel, opened in 1986, Japan had invested $16.65 billion in 1,278 companies specializing in the integrated circuit, intelligent manufacturing, and auto industries in Wuxi as of the end of last year.
Scenery in Wuxi. [Photo/Wuxi Daily]
While Japanese businesses have experienced robust development in Wuxi, Wuxi companies have also set up operations in Japan. To date, Wuxi companies have invested $530 million in 72 projects in the country.
With the RCEP taking effect last year, cooperation between Wuxi and Japan has accelerated.
"The RCEP provides a broader platform and more convenient channel for Envision Group to invest in Japanese companies and bring in advanced technologies from Japan," said Sun Yi, secretary of the Board of Directors of Jiangyin Envision Venture Capital Partnership.
In recent years, the constantly improving cooperation between the two places in culture, sports, education, and medial care has injected vitality into their relations, imparting more resilience to their cooperation.
