Japan is China’s third largest trading partner and Guangdong’s fifth largest trading partner. Since 2010, Guangdong has maintained double-digit growth in the value of imports and exports to Japan, and the average daily trade deficit has remained at around US$2 billion. According to the statistics released by Guangzhou Customs on the 16th, from January to July 2010, the total import and export value of Guangdong and Japan reached 37.8 billion U.S. dollars, an increase of nearly 40% from the same period in 2009.

According to the analysis of the customs, Guangdong's trade with Japan experienced a significant increase. In addition to the gradual recovery of consumption in the Chinese domestic market and the increase in export capacity, the good trade cooperation between Guangdong and Japan has also effectively stimulated trade growth. At present, there are nearly 1,000 Japanese-funded enterprises in Guangdong, which has led to the investment of the entire automobile industry chain in the Pearl River Delta, and the rapid development of auto parts and related industries has also grown on a larger scale. Data show that from January to July 2010, Guangdong imported auto parts from Japan worth 1.6 billion US dollars, an increase of nearly 40%. Since the signing of a memorandum of cooperation between Guangdong and Japan Trade Promotion Agency in 2009, both parties have further strengthened their deep cooperation in energy conservation and environmental protection, low-carbon economy, advanced manufacturing, high-tech industries, and modern service industries.

However, the Customs stated that there are still uncertainties in the development of the trade between Guangdong and Japan. Recently, the acceleration of the appreciation of the yen and the rise in the unemployment rate in Japan have brought pressure on Japan’s economic recovery. According to the data of the People's Bank of China website, the central parity rate of RMB against 100 yen once rose from 7.1922 on May 4th to 7.9233 on August 9, and the cumulative increase in three months has reached 10.2%. Under the background of the slowdown in the global economic growth, the continuous appreciation of the yen has caused the market's doubts about the Japanese economy to fall into recession quickly. In addition, negative factors such as increasing Japanese companies’ mergers and acquisitions with China and building high technical barriers in Japan will also affect the trade between Guangdong and Japan.

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