Japan announced a "new era" in relations with Russian Federation

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President Xi Jinping met with Japanese Prime Minister Shinzo Abe in Beijing Friday, calling on both sides to cherish the good momentum in bilateral ties.

The agreements announced in Beijing include a three-year currency swap agreement of up to 3.4 trillion yen ($30.4 billion).

One of the key agreements the two sides expect to sign during the 28-29 October meeting is on Japan giving a second tranche of funds for the flagship Mumbai-Ahmedabad high speed railway, foreign secretary Vijay Gokhale said. In a separate announcement, China and Japan pledged to increase their cooperation in the area of innovation.

Japan's Kyodo news agency is reporting that by bolstering investment in other countries, the governments of Asia's two biggest economies will aim to form a new model of economic cooperation between them. He also welcomed Japan's participation in China's Belt and Road Initiative. Just $5 a month.

"My impression is that President Xi responded positively". Six years after the dispute over the contested East China Sea islands - known as the Senkaku in Japan, and the Diaoyu in China - the Chinese navy has kept up the pressure, sending the same number of coast guard vessels into the waters off the islands as it did in 2017, the Japanese official said.

Osuga did note that universal values and maritime security were important principles of Japan's engagement with China.

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During his meeting with Li, Abe trumpeted a new stage in the bilateral partnership.

As close neighbors, Japan and China should push forward bilateral ties on the basis of the principles set in their four political documents and in the spirit of "cooperating in a mutual-beneficial way and never posing a threat to each other", he said.

Li was similarly positive.

"Under the new situations, China and Japan, increasingly interdependent in bilateral areas, also share more common interests and concerns on multilateral occasions", Xi said. Li also indicated that Beijing wanted to lift the relationship to "a new phase".

The Trump administration has imposed huge trade tariffs which it says are in retaliation for other countries' unfair trade practices.

"[ I think] China would like to warm relations with traditional rivals such as Japan and concentrate the diplomatic efforts on United States".

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Abe responded that Japan believes the two countries should take a free and fair trade system to "a new level". These were the same trade negotiations highlighted during the trilateral summit that Abe hosted in Tokyo in May.

Speaking to reporters afterward, Li said 500 business agreements worth $18 billion had been signed between Chinese and Japanese companies during the visit, displaying the "bright future" for cooperation between the sides.

During Abe's visit, the leaders will celebrate the 40th anniversary of the signing of a treaty between the two countries that was meant to set the tone for their relations following the war. The last such visit was in late 2011.

It was unclear, what specific rights issues Abe raised.

But he has since softened his rhetoric as the issue of North Korean denuclearisation brought the two countries closer, with Abe calling on China to put pressure on North Korea. The officials would also be discussing possible arrangement involving the loans of giant pandas.

"The problem of the Kuril Islands have always been out of diplomatic plane, because the ordinary people of Japan for the second year get there by aircraft and visit the graves of their ancestors", according to Shinzo Abe.

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