Chinese group tours have resumed in Japan after pandemic-era restrictions were lifted, but the economic impact may be limited due to a cooler Chinese consumer sentiment, increased availability of high-end brands in China, and concerns over Japan's plan to release treated Fukushima wastewater into the sea.
China's biggest salt producer reassures people not to panic buy as Japan releases treated radioactive water into the Pacific Ocean from the Fukushima nuclear plant, leading to empty salt shelves in some parts of China.
China has banned Japanese seafood imports due to concerns over the release of treated water from the Fukushima nuclear plant, but the claim that it poses safety risks is not supported by science.
Russia plans to increase its marine product exports to China following China's ban on Japanese seafood imports after concerns about radioactive water released from the Fukushima nuclear power plant, with Russia being one of China's largest seafood suppliers.
Japan's Prime Minister Fumio Kishida is planning to implement measures to support the fishing industry affected by China's ban on Japanese seafood, including additional funds from the government budget reserves, after visiting Tokyo's fish market.
Japan's decision to release treated radioactive water from the Fukushima nuclear power plant could potentially lead to a 0.2% decrease in the country's real GDP, primarily due to the impact on inbound tourism from China and the ban imposed on Japanese seafood products by China and Hong Kong.
China's struggling economy may be contributing to a backlash against Japan over the release of Fukushima water into the ocean, but Suntory Holdings CEO plans to continue investment in China despite the situation.
The Japanese government has allocated an additional 20.7 billion yen to support the fisheries industry after China's total import ban of Japanese aquatic products due to concerns over the release of treated radioactive water from the Fukushima Daiichi nuclear power plant.
Japanese Prime Minister Fumio Kishida has announced a 20.7 billion yen ($141 million) emergency fund to aid exporters affected by China's ban on Japanese seafood following the release of treated radioactive wastewater from the damaged Fukushima nuclear power plant, with the fund aimed at finding new markets for Japanese seafood and expanding domestic consumption.
Big Japanese manufacturers and the services sector in Japan are experiencing a decline in confidence, with concerns of a slowdown in China's economy affecting global and domestic growth, according to a Reuters poll. The weak sentiment in the business sector raises doubts about the ability of exports to drive economic recovery amid weak domestic demand. Many companies cited high input costs and weak demand as contributing factors, along with geopolitical risks and tensions between the US and China.
Japan's exports to China declined for the ninth consecutive month in August, dropping 11%, due to weak demand and the suspension of seafood imports following the Fukushima Daiichi nuclear plant incident.
