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On October 24, 2024, the Chinese Academy of Fiscal Sciences (CAFS) and the Policy Research Institute (PRI) of the Ministry of Finance of Japan jointly held the 7th China-Japan Think Tank Forum on Finance Policy (2024) in Beijing. Themed "Fiscal Policy, Climate Policy and Sustainable Development", the seminar focused on two topics, namely "Economic Situation and Fiscal Policy" and "Climate Change Policy". CAFS President Yang Zhiyong and PRI President Komiya Yoshiyuki attended and addressed the seminar. Kawamura Tadaaki, Minister of the Japanese Embassy in China, Ueda Junji, PRI Vice President, and Fu Zhihua, Chairman of CAFS Academic Committee, also attended the seminar. The seminar was presided over by CAFS Vice President Xing Li.

CAFS President Yang Zhiyong said in his speech that PRI and CAFS have a deep relationship and that the previous seminars hosted by both sides on a rotating basis had all encompassed in-depth discussions and exchanges of views on hot social issues of common concern to the two countries, with fruitful results achieved. This seminar focuses on fiscal policy, climate policy and sustainable development, which not only signifies an active response to the current changes in the global economic environment, but also articulates that China and Japan will share the responsibility of the times and work together to promote sustainable development. He expected that the exchanges and mutual learning between Chinese and Japanese experts at this seminar would bring new ideas to the design of economic and social reforms, and contribute to the establishment of more constructive agreements.

PRI President Komiya Yoshiyuki said in his speech that since the signing of an MOU, PRI and CAFS had carried out a wide range of exchange activities, effectively promoting mutual understanding and friendly cooperation between the two sides. Since 2016, the think tank seminars on finance hosted by the two sides have featured multi-faceted, multi-level discussions on topics of great concern to China and Japan. It is expected that the 7th China-Japan Think Tank Forum on Finance Policy will provide opportunities for the two sides to further enhance mutual understanding and consensus, thus laying a more solid foundation for deepening the cooperation between them in the future.

The Session on "Economic Situation and Fiscal Policy" was chaired by Researcher Fu Zhihua. Shi Yinghua, Director of the Research Center for Macroeconomics at CAFS, delivered a speech titled "China's Economy amid Recovery and Transition", while Ueda Junji, Vice President of PRI, gave a speech titled "Economic situation and Fiscal policy in Japan - How to ensure sustainable public finances under demographic change". Zhao Fuchang, Director of the Research Center for Public Finance and Governance at CAFS, and Tanaka Osamu, Special Adviser for China Research at PRI, commented on the speeches respectively.

The Session on "Climate Change Policy" was chaired by PRI Vice President Ueda Junji. Chen Shaoqiang, Director of the Research Center for Resource and Environment at CAFS, delivered a speech titled "Development Progress and Reform Trends of Carbon Pricing Mechanisms in China", while Sato Nobuki, Director of the Debt Management Policy Division of the Financial Bureau of the Ministry of Finance of Japan, delivered a speech titled "Recent JGB Market and Climate Transition Bond". Fan Yixia, Deputy Director of the Research Center for Resource and Environment at CAFS, and Asakura Kyu, Deputy Director of the Debt Management Policy Division of the Financial Bureau of the Ministry of Finance of Japan, commented on the speeches respectively.

During the Q&A session, the participating experts and scholars had an in-depth exchange of views on topics such as "how Japan's fiscal policy supports the structural reform of corporate investment, China's response to aging, certification and rating of green climate transition bonds, and Japan's carbon trading market and carbon tax".

The China-Japan Think Tank Forum on Finance Policy, as an extension and important outcome of the Fifth China-Japan Finance Dialogue in 2015, is jointly hosted by CAFS and PRI. Under the themes of "Economic Growth amid Population Aging", "Debt Risk and Fiscal Risk", "Fiscal Risk and Financial Risk", "Structural Reform and Fiscal Sustainability in an Aging Society", "Government Debt Management in China and Japan", and "Policy Responses Toward a Sustainable Society" respectively, the previous six seminars were alternatively held in Beijing and Tokyo. The outcomes of the seminars were recognized by the relevant departments of the two governments, and attracted attention from all sectors of society. The Eighth China-Japan Think Tank Forum on Finance Policy is scheduled to be held in Japan in 2025.