Abstract: Since the normalization of SinoJapanese diplomatic relations, ChinaJapan financial cooperation lagged behind trade, investment, and industrial cooperation. No substantial breakthrough in the joint promotion of the Asian financial integration process and the bilateral financial cooperation between China and Japan has been made. The reason why ChinaJapan financial cooperation is hindered lies in the common defects in the Asian region represented by China and Japan. It also lies in the existing obstacles between the two countries, such as the dependence on the US dollar system, inadequate institutional function of the cooperation platform, and lack of political mutual trust. With the new changes in the international political and economic situation, ChinaJapan financial cooperation faces new opportunities. While promoting multilateral financial cooperation, the two countries will use the “One Belt and One Road” as a platform to strengthen the ChinaJapan financial cooperation mechanism and broaden the modality for cooperation to achieve a winwin situation.

Key words: ChinaJapan financial cooperation, multilateral cooperation mechanism, bilateral cooperation mechanism, “One Belt and One Road”