Nippon Steel chief seeks structural reform in China

4 November 2015

Shoji Muneoka, head of the Japan-China Economic Association, expressed hope that China will implement structural economic reform in a steady manner.

Muneoka, also chairman of Nippon Steel & Sumitomo Metal Corp., made the comments when a delegation from the association held talks Tuesday in Beijing with senior officials from China’s National Development and Reform Commission.

He said China’s next five-year economic plan should address slowing growth, as global economic development is closely linked to China’s economy.

Hu Zucai, vice minister at the Chinese commission, who is in charge of crafting the five-year plan, said Beijing will promote growth through innovation and other measures.

The Japanese delegation offered to cooperate with China in fields such as efficient energy use, while calling on Beijing to streamline complicated legal procedures and business practices.