Japan’s attitude toward the China-proposed the BRI has changed dramatically over the years：from showing indifference，introducing a counterbalancing Indo-Pacific Strategy，to proposing Japan-China third-party market cooperation under the framework of the BRI. Today，several programs of third-party market cooperation have been relatively well developed between Chinese and Japanese enterprises. The economic cooperation between Shanghai and Japan is of a high level. As a geographical center，trade and financial hub，and frontier of high-tech industries development，Shanghai can cooperate with Japan under the framework of the BRI to play a leading and exploratory role in improving the quality and level of the BRI construction. Meanwhile，Shanghai can better use its advantage as an East-West intersection in the BRI. However，on the other hand，profound changes are occurring in the global political and economic landscape，as the US has united so-called like-minded nations to form technology and supply chain alliances that exclude China. And Japan has passed an economic security bill. The advanced economic cooperation between Shanghai and Japan will face more challenges.