'Chinanomics' could hold key to Japan's economy recovery

Seguchi continued to say that current economic slowdown is not a major problem for China and it is controllable. "Employment and prices remain stable right now and the Chinese government pays great attention to the two key indexes in order to maintain them in a stable manner. That is a reasonable policy goal."

But he suggested that China has to enhance its industries' competitiveness in an effort to boost exports, adding a possible enlarged trade deficit will pose a remarkable challenge to China.

On the Chinese visitors' astonishing amount of purchasing in Japan during the Chinese Spring Festival vacation and cherry blossom season here, Seguchi said the strong purchasing capability of the Chinese visitors brought great profits to Japanese businesses.

"Besides economic interests, the most important thing is that the smiles on Chinese visitors' faces will definitely make Japanese think they like Japan and it will close relations between the two peoples, which will also serve to help bridge the bilateral political gap," Seguchi concluded.