The Policy Research Institute (PRI) has facilitated a research exchange with leading Chinese research institutes in economic and fiscal fields. We held a joint online forum, "Japan-China Think Tank Forum on Finance Policy", on June 2 with the Chinese Academy of Fiscal Sciences (CAFS), an institute under the Ministry of Finance, China.

Under the theme of "A Comparative Study on Government Debt Management between China and Japan," the presenters from the Japanese side gave presentations on Japanese local government debt management and the local government fiscal situation. The presenters from the Chinese side gave presentations on China's central and local government fiscal relations and the overall debt management. Also, commentators provided their opinions to these presentations, followed by a discussion.

Opening Session

Kurihara Takeshi, President, PRI

Liu Shangxi, President, CAFS

Session 1

Chair: Xing Li, Vice President, CAFS

Speaker: Ishida Mitsunari, Associate professor, Toyo University

Topic: Japanese local government debt management

Speaker: Ohno Taro, Chief Economist, PRI

Topic: Local government fiscal situation

Commentator: Zhang Licheng, Deputy Director and Researcher of the Financial Research Center, CAFS

Session 2

Chair: Kawauchi Hironori, Executive Vice President, PRI

Speaker: Liu Shangxi, President, CAFS

Topic: Fiscal Relations of China's Central and Local Governments

Speaker: Zhao Quanhou, Director and Researcher of the Financial Research Center, CAFS

Topic: Overview of Chinese Government Debt Management

Commentator: Tanaka Osamu, Special Adviser for China Research, PRI

Closing Session

Kawauchi Hironori, Executive Vice President, PRI

Xing Li, Vice President, CAFS

[Scene from the online forum]