Bloomberg Reports Japan Paying Companies to Relocate Out of China

Japan to pay firms to leave China, relocate production elsewhere as part of coronavirus stimulus

Japan has earmarked US$2.2 billion of its

record economic stimulus package to help its manufacturers shift production out of  China, as the coronavirus disrupts supply chains between the major trading partners.

The extra budget, compiled to try to offset the devastating effects of the pandemic, includes 220 billion yen (US$2 billion) for companies shifting production back to  Japan and 23.5 billion yen for those seeking to move production to other countries, according to details of the plan posted online.

The move coincides with what should have been a celebration of friendlier ties between the two countries.

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