Japanese largest trust company, Mitsubishi Trust & Banking Corp., said it will regard China as its major strategic overseas market in the future international operation.
A senior Mitsubishi official Mr. Nobusuke said at Thursday's 2001 Beijing Economic Forum that the company's optimism in China's economic development motivated its China market strategy.
He expected that China will develop into an economic power that stands with the United States, the European Union and Japan in thefirst half of the 21 century.
The company, founded in 1927, predicted that China will overtake the United States and become the largest trade partner of Japan in the next ten years.
The official indicated that more and more Japanese enterprises have relocated their production bases to China to cut costs. Many of these enterprises are clients of the bank, and so it is necessary for the bank to come to China for business expansion, hesaid.
(Xinhua News Agency 09/14/2001)