Foreign investors and businesses have been desperately searching for signs of returning to the old economic order that prioritized foreign investment. It is clear from the outcome of the 20th Party Congress that national security and the party’s political security will take priority over economic growth. Read the entire 19th CPC Central Committee report presented by Xi Jinping to the 20th National Congress of the Communist Party of China (CPC) HERE.

Economic growth has slowed down. China has officially reported that third-quarter GDP has grown by 3.9% from a year ago. This was actually more than expected and marked a significant increase from 0.4% in the second quarter, bringing year-to-date growth to 3%. However, it is still well below the official target of around 5.5%. Based on Economist Intelligence forecast, the GDP growth in China is expected to be 3.3% for the year 2022, and 4.7% in 2023. With the dynamic-zero policy, as well as restrictions, growing too fast is simply impossible. Their dynamic zero policy implementation scenario for 2023 is below.

Xi's emphasis on Green Development in his speech is welcome news for Finnish companies. China is standing by their target of Carbon neutrality by 2060. Based on the World Bank, China will need estimated USD 14-17 trillion investment in power and transportation to achieve their goal of net zero emissions by 2060. This signals plenty of room for foreign technology and investments.

China’s long-term economic growth depends on scientific innovation. Xi used the Twentieth Party Congress to prioritize science and technology as the cornerstones of China’s national economic and military self-reliance strategy for secure and reliable supply chains. On October 7th, just before the China Party Congress, the US administration published a set of export controls, restricting China's access to certain semiconductor chips made anywhere in the world with U.S. equipment. Many of the measures were aimed at preventing foreign companies from selling advanced chips to China or supplying Chinese firms with tools to make their own advanced chips. Obviously, many businesses will be affected by this deepening chasm between US and China.

Team Finland will be conducting the 3rd pulse survey related to this and other ongoing political and economical headwinds (namely China's continued zero-Covid policy and Russia's ongoing war of aggression against Ukraine) on Oct 31- Nov 7. The results will be revealed on the biannual Team Finland China day 22.11.2022

 

FinnCham, together with Business Finland and Embassy of Finland, will be organizing plenty of opportunities for Finnish companies in different sectors to expand their businesses. We will have a regional opportunities matchmaking event with Daxing District mid November, focusing on aviation, energy solutions, health technology, digitalization and cross-border e-commerce. After that we will head to Hebei province to join in the Ice and Snow conference and Expo. There will be a Finland country Pavilion with winter sports companies represented. At the end of the month there will also be a long-waited Team Finland China business delegation to Shangdong (Qingdao, Jinan, Yantai). More details will be published soon.

 

Recently we've had the pleasure of welcoming new member companies from the education sector, including our October guest writer. Read what Kide Science is bringing to the Chinese markets.

On the behalf of FinnCham Beijing, I wish all the best for your autumn

Ulla Nurmenniemi

Executive Director

Kide Science offers playful and story-based science education program for 3-8 years old children. The aim is to help children become active producers of knowledge and meaning, helping them grow into the problem solvers and creative thinkers through high quality research-based pedagogy. The little scientists adventuring in the story world of Supraland today are the future citizens facing up to the greatest existential threats of tomorrow. All story themes and lessons are based on a frame story. Supraland is an alternate reality, which is located in a different space-time continuum than planet Earth.

In 2013, the founder Dr. Jenni Vartiainen embarked on a five-year research journey that would irrevocably change how we look at early science education. At the University of Helsinki, the research team hosted over 1,000 young children’s science clubs and turned learnings into an engaging STEAM education model that meets children in an environment most natural to them: the imagination.

At Kide Science, we know that children are active learners by nature. As a teacher or a parent, you are bound to know it, too. Because children have a strong tendency to explore and experiment, our pedagogy shifts science learning into imaginative science play.

Kide Science has been recognized as the winner in the very first Education Finland Awards. The goal is to recognize the best Finnish education solution for international markets. The jury statement is as follows: "Kide Science is an inspiring solution that sparks the desire to learn and experiment. It provides insights and a joy of learning and appeals to a wide audience. The jury sees the solution massive potential to be an impressive, significant, and even world-changing solution."

FinnCham Beijing is part of Team Finland in China, and an outstanding platform for all Finnish businesses in China. For those companies which need more visibility, we have launched a Premium Membership. It's an upgrade from normal membership, as you can see from the table below.

For those companies in Finland, who are planning to expand their businesses to China, or are in the early stage and don't have an office in China yet, we have a distant membership. A very cost-effective way to make your company known to a large audience, and get essential contacts for your future.

Not a member yet: Join us HERE

FinnCham Beijing’s mission is to help Finnish companies to succeed in China