The Bank of Japan (BOJ) opened a representative office in Beijing with the aim of strengthening financial cooperation with China, according to the Nihon Keizai Shimbun.
The Japanese economic news daily quoted an unnamed senior BOJ official as saying, "Japanese companies are increasingly looking to China and its growth potential, so Japan is increasingly becoming dependant on that nation more than the US."
The report noted that BOJ officials are interested in China as it is a key factor in Japan's export-focused recovery.
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