A major Japanese business lobby in China said Wednesday it has set up a council to gather information on Beijing's ambitious project of building modern-day Silk Road economic links.

The Japanese Chamber of Commerce and Industry in China said the new liaison council will also help members share information about the Chinese initiative, which seeks to expand infrastructure networks in Asia, the Middle East, Europe and Africa.

While Japan is not yet a member of the so-called One Belt, One Road initiative, Chinese officials have said the project is open to everyone.

Japanese companies, which like their foreign rivals, are increasingly keen on the initiative into which China pledged last month to pour hundreds of billions of dollars to finance infrastructure projects in those regions.

"An improvement in Japan-China relations will also be positive for business activities," chamber head Akihiro Ueda, chief executive officer of Itochu Corp's East Asia operations, told a press conference in Beijing.

Japanese Prime Minister Shinzo Abe said earlier this month that Tokyo is prepared to contribute to the Chinese initiative if certain conditions are met.

China has welcomed the Japanese government's changing stance toward the initiative.

The chamber of commerce also submitted Wednesday a list of requests to the Chinese government, asking it to improve the transparency of regulations and further open markets of the world's second-largest economy to foreign firms.