China on track for economic growth, new opportunities: Finnish experts

This photo taken on June 9, 2023 shows an exterior view of the venue of a wine-themed international conference and an expo in Yinchuan, northwest China's Ningxia Hui Autonomous Region. (Xinhua/Feng Kaihua)

Chinese market is expected to enter a strong growth phase in the next few years, Marko Tiesmaki, country director for China at Business Finland, said.

HELSINKI, June 9 (Xinhua) -- China is back on track for economic growth and new opportunities, Finnish experts said in the latest edition of the "China Review" published by the Finland Chamber of Commerce on Friday.

China's economy has grown strongly since the end of last year due to the country constantly optimizing COVID-19 response measures, and China's economic growth forecasts are generally updated upwards by analysts, Marko Tiesmaki, country director for China at Business Finland, said in the report.

According to him, China's market is expected to enter a strong growth phase in the next few years.

A visitor purchases Italian jewellery at the second China International Consumer Products Expo (CICPE) in Haikou, south China's Hainan Province, July 30, 2022. (Xinhua/Guo Cheng)

The report said that several joint Finnish-Chinese projects are currently underway in energy production, distribution and storage.

Most of the Finnish companies active in China are successful and optimistic about China's economic growth, according to the report.

Citing a business survey conducted earlier this year, the report noted that almost 80 percent of the respondents expected turnover, profitability and investments to increase in China this year.

Aerial photo taken on Aug. 17, 2020 shows a photovoltaic power station at a green industrial development park in the Tibetan Autonomous Prefecture of Hainan, northwest China's Qinghai Province. (Xinhua/Zhang Long)

Lenita Toivakka, an expert from the Finland Chamber of Commerce, pointed out in the report that the work for the green transition will not be successful without cooperation with China.

There are opportunities for Finnish companies in such fields as low-carbon solutions, emission-free transport, digitalization, health technology and smart health services, Toivakka said.

The latest edition of the "China Review" was written by Finnish experts from the country's Ministry of Foreign Affairs, Ministry of Economic Affairs and Employment, the Bank of Finland, Business Finland and the Finnish Institute of International Affairs.

Aerial photo taken on July 30, 2018 shows an electric bus running on the Yanggongdi Causeway in the West Lake scenic area in Hangzhou, capital of east China's Zhejiang Province. (Xinhua/Huang Zongzhi)