He also said that China attaches importance to the positive remarks made by Abe on the Belt and Road Initiative, and Japan joining the Belt and Road construction will open up new space for bilateral economic cooperation, and China is willing to discuss with Japan the proper and concrete ways for it to participate in the initiative.
The reform plan, which proposes the formation of eight agencies including the international development cooperation agency, is subject to the newly formed State Council's approval, Xinhua reported.
Wang is on a three-day visit to Japan starting Sunday. During his visit, he co-chaired the fourth high-level economic dialogue between China and Japan with Japanese Foreign Minister Taro Kono.
An escalation of trade tensions represents a growing downside risk to our baseline global forecast as the US administration looks determined to reduce the US trade deficit and curb China's strategic ambitions stated in its "Made in China 2025" plan. With the US international trade data showing a rising trade deficit in February－the widest since 2008－and a cumulative deficit vis-à-vis China on the rise－the deficit was $65.2 billion year-to-date, up almost $11 billion than the same period in 2017－we (at Oxford Economics) fear trade tensions will escalate further in the coming weeks.
Wang Xiaotao, former deputy head of the National Development and Reform Commission, was named head of the agency this month.