The missing of Kuramoto, the Secretary of the Japanese Consulate-General in Nanking in June 1934, brought about a new crisis to the improving relations of Sino-Japanese. Japanese hard-liners tried to take advantage of that crisis for Japanese interests. At that time, Wang Ching-wei was supposed to be in charge of the Nationalist Government when Chiang Kai-shek was absent. Looking in more details into the Kuramoto Incident, however, we see another story. While Wang was handling the negotiations between the two nations, all the cliques in Nanking were following Chiang's instructions. Moreover, the exchanges of information as well as policy coordination among those cliques were conducted in an inefficient way. Before Kuramoto was found, the strong suspicion against Japan's intention had made the Nationalist Governmen's judgment of the situation extremely inflexible. It indicates that the reconciliation policy promoted by Wang, who had no solid foundation. This is the reality of the China's policy toward Japan in the period of Chiang-Wang Cooperation, which in fact imposed serious constraints on the development of Sino-Japanese relations, despite the seeming improvement in relationship between the two countries at the time.