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Ties at 'historic turning point'

Xi, Abe hail new era for China, Japan

Reuters, Beijing
China and Japan yesterday pledged to forge closer ties as both countries stood together at an" historic turning point", signing a broad range of agreements including a $30 billion currency swap pact, amid rising trade tensions with Washington.
Japanese Prime Minister Shinzo Abe and Chinese Premier Li Keqiang also agreed the two countries would work together to achieve denuclearisation on the Korean Peninsula.
The pacts were reached on Abe's three-day visit to Beijing as the two neighbours looked to carve out new areas of cooperation and seek ways to promote trust, which has been fragile at times since diplomatic relations resumed in 1972.
Chinese Premier Li Keqiang said 500 business deals worth $18 billion had been signed between
Chinese and Japanese companies during the visit, a reflection of the "bright prospects" for cooperation between the two countries.
"From competition to co-existence, Japan and China bilateral relations have entered a new phase. Hand in hand with Premier Li, I would like to advance our ties forward," Abe told reporters after the pair met yesterday morning.
Both countries are neighbours and partners, and will not
become a threat to each other, Abe said after meeting with President Xi Jinping yesterday in the first full-scale Sino-Japanese summit since 2011.
"With President Xi Jinping, I would like to carve out a new era for China and Japan," Abe said.
Xi said bilateral ties had returned to the right track and China would ensure the positive momentum continues, according to state media.
"That is worth cherishing by both sides, ” Xi said.
Both sides should undertake more in-depth strategic dialogue, Xi said, adding that exchanges between ordinary Japanese and Chinese people should also be stepped up to foster deeper mutual understanding.
Abe returned to power in 2012 when Sino-Japanese ties were in tatters due to a feud over East China Sea islands, and the territorial dispute remains a key source of friction between the two countries.
The move to boost economic ties came as China and the United States slap tit-for-tat tariffs on each other in recent months. Japan is at risk as it exports to China manufacturing equipment and electronic parts, which are used to make finished goods for the United States and other markets.