Dear Members and friends of FBCB,
I had thought that the Covid-19 epidemic, which has lasted more than two years by now, would be the worst disaster in recent history to paralyze the economy all over the world. How wrong I was. The Russia-Ukraine conflict has caused yet another crisis in our hands - and just as suddenly. Neither event could be predicted and there is no foreseeable end at the moment. The future is uncertain. Both disasters will leave their mark on us, whether emotional, physical, or economical. Yet, there is an air of optimism when looking into the future.
The Beijing Paralympics was very successful for Finland, with the best results in 20 years. Two gold and two silver medals is a great achievement for a small country like Finland. Finland’s Embassy hosted a Paralympics’ side event with the theme of “Right to sport”, a cozy small event fitting this turbulent time perfectly. China received recognition not only for its successful arrangements, but also for becoming a “powerhouse of the Winter Paralympics” by claiming 61 medals to its name.
One of China’s main political events, the Two Sessions, was held in Beijing at the same time as the Paralympics. As China’s economy and trade is strongly policy driven, the key takeaways from Two Sessions have a significant impact. China’s economic development faces the pressure of shrinking demand, disrupted supply and weakening expectations. The GDP target for 2022 was set to 5.5%. Much lower than last year, but still perhaps difficult to reach in this current situation.
The main takeaway was to ensure stability and reasonable economic growth. For business, a few issues received the greatest focus. First, China sees the digital industry as a growth driver and aims to promote technological innovation, as well as optimize and upgrade industrialization by enhancing core competitiveness of the manufacturing industry - such as 5G, big data centers, artificial intelligence, industrial Internet, and industrial digitization. Second, the carbon neutrality targets. China has set two major carbon emissions goals: reaching peak carbon emission by 2030 and carbon neutrality by 2060. The targets remain the same, but it is difficult to make fundamental changes in a coal-based energy structure in the short-term. That means that although renewable and green energy solutions are actively developed, the transformation may take longer than originally anticipated. Foreign quality trade and foreign direct investments were encouraged.
In China’s private sector many micro, small, and medium-sized enterprises as well as self-employed individuals are facing production and business operation troubles. According to the 2022 Government Work Report
released during the 2022 Two Sessions (Read the report HERE
), the additional R&D expense deduction ratio of technology-based small- and medium-sized enterprises (TSMEs) will be raised from 75 percent to 100 percent. More details are expected to be released in the coming months. Also, tax and fee reductions, for example VAT exemptions or reduction in corporate income taxes, were promised in order to support manufacturing, small and low-profit enterprises, and self-employed businesses.
Finnish companies see the future in the Chinese market as quite optimistic. The Finnish Business Confidence Survey done jointly by the Finnish Business Councils and FinnCham in Greater China revealed that around 70% expect revenue growth and slightly over 50% expect net profit growth this year. Furthermore, 39% of respondents plan to increase investments this year. China’s domestic market is huge and revenues are generated mainly from local markets. However, companies are worried about possible tensions between EU and China as it could worsen business opportunities and Covid-19 has already had a heavy impact on supply chains. Cross-border logistics has become increasingly slow and expensive. Read the whole survey HERE
China continues its zero tolerance policy on Covid infections. The increasing number of Omicron cases has caused uncertainty among businesses due to lockdowns in many provinces. International travel is still limited to a minimum. The earliest relief to the situation is expected after the China Communist Party National Congress this coming autumn. However, we've done our best to continue business-as-usual given the current circumstances. Last Friday we held a workshop with Nokia to introduce their 5G solutions to local Finnish enterprises. Nokia is also our March guest writer. Scroll down to see the whole story. We are also coming to the end of our fiscal year. AGM is to be held at the end of April, for which invitations will be sent by the end of next week.
Let’s stay united and strong!
On the behalf of FBCB,
Finnish Business Council Beijing
|Finnish Business Council Beijing AGM April 20|
Our fiscal year is coming to an end by April 30. Our Annual general meeting will be held on April 20 starting 6pm.
AGM is for members only. Invitations to member companies will be sent latest on April 6th.
|Finland Talks: Fiskars - Premium Design that is joy to use - April 27|
Welcome to join this free online seminar. Fiskars was founded in 1649 as an ironworks in the Fiskars Village. The region’s large tracts of forestland and unharnessed water power, together with highly accessible water routes, made it an ideal centre for the Finnish iron industry. Today, Fiskars is one of the oldest businesses in the western world.
Time: 27 April 2022 at 4pm - 4:45pm CST
(3pm-3:45pm BKK /11am-11:45am Finland time)
|Guest writer Nokia Shanghai Bell: China – the hot spot of Industry 4.0 digitalization|
All of us would surely agree that the highly digitalized lifestyle in China resembles that of a science fiction movie. We experience this daily when using the wide range of sophisticated mobile applications to order didis, send wechats, or buy goods on Taobao. In addition to easing our daily lives with handy consumer applications, digitalization offers substantial benefits to the global economy by reducing carbon emissions, increasing productivity and providing more inclusive access to healthcare, markets and education. The industrial world, is therefore, in a pivotal moment in history as heavy-asset industries, governments and enterprise businesses accelerate their digital transformation journeys.
The current era of digital transformation is often referred to as the 4th industrial revolution or Industry 4.0. According to Nokia Bell Labs Consulting, the pandemic sped up the adoption of digital communications technologies by an average of six years. Industry 4.0 has taken a massive leap forward over the last 18 months as companies have adopted digital technologies to keep business moving despite the restrictions on physical interactions and supply chain disruptions. Many enterprises are now thinking about how else they can use those newly acquired capabilities — and redefining their industries in the process.
With over 30% of the world’s manufacturing and a government strategy strongly aiming toward world leadership in industrial digitalization., China will be a forerunner in driving the digitalization of physical industries. China’s 14th five-year plan lists industry digitalization as a key objective and encourages enterprises to deploy technologies including 5G, IOT and AI to digitalize their operations. China’s highly advanced ecosystem of application and industrial device providers, as well as the extensive 4G/5G network coverage provide the perfect opportunity for enterprises to kickoff their digitalization journeys and become showcases for the rest of the world.
The first step of Industry 4.0. digitalization is connecting all assets to enable data collection. However, many enterprises are recognizing that current network connectivity options cannot support future growth and process innovation in areas such as IoT and digital transformation. LAN cables and wired technologies are expensive, inflexible and immobile while various existing wireless technologies such as Wi-Fi, LoRa or Bluetooth simply do not meet the cost effectiveness, performance, or security requirements of Industry 4.0 critical operations. Companies are increasingly looking into 4G/5G wireless networks as the networking technology of choice and are implementing on-campus private wireless networks focused solely on the enterprises’ own OT (operations technology) needs with tailored coverage and dedicated capacity to securely connect industrial assets and workers.
Nokia is the undisputed world leader in private wireless networks. Nokia’s wireless network solutions have helped more than 420 customers globally for their digitalization, covering diversified industries including manufacturing, logistics, transportation, energy, etc. In China we are actively partnering with enterprises, telco operators and hyperscalers such as Alibaba to provide Industry 4.0. grade digitalization solutions. Our telco grade, secure networking solutions, 40 year experience in the China market and extensive experience in enterprise digitalization make us an ideal partner for companies looking to digitalize your operations.
The recent Nokia site visit on March 25th organized in cooperation with the Finnish Business Council of Beijing and Business Finland brought together companies from a wide range of verticals all sharing the same target of increasing digitalization to improve productivity, sustainability and quality of operations. It was exciting to see the interaction between the companies and hear about different digitalization initiatives. The success of industry 4.0 depends on a network of innovative partners and we welcome you to join our Nokia digital ecosystem and kick off your digitalization journey here in China - the hotspot of Industry 4.0. digitalization. #thereisnogreenwithoutdigital.
Author: Susanna Patja
Executive Vice President, Nokia Shanghai Bell
|The Development of IPR Protection in China March 1|
IPR Webinar was jointly organized by Finnish Business Council Beijing and Capital Intellectual Property Services Association (CIPSA). CIPSA is a non-governmental association. The members of the association are legally registered IP service agencies. Association also keeps a list of 100 best IPR -attorney companies in China, and gives free advice and support for local and international companies in IPR issues. We learn about the changes of IPR law of China in recent years by CASISD, and real case examples of IPR protection in China presented by Beijing Lawsing IP Firm. If you have IP -related questions, don't hesitate to contact FBCB.
|Leaving or Coming to China with Pets March 17|
FBCB invited Globy and Finnair to share how to prepare pets (cats and dogs) for cross-country travel. Globy Pet Relocation is the leading pet transportation service company in China. Finnair, FBCB member company, is one of the world's oldest operating airlines, focusing on traffic between Europe and Asia, via Helsinki.
We learned about the health records, vaccinations, documents and transportation options. If you have related questions, please don't hesitate to contact FBCB. We connect you with right people.
|Finnish Business Confidence Survey March 23|
Online event was jointly organized by FBCB, FBCS, FBCGD and FinnCham HK. The survey is biggest joint effort of Finnish Chambers/Business Councils in Greater China. It's done on yearly basis followed by 100+ people. The launch was opened by Ambassador Leena-Kaisa Mikkola
. Nordic Match
had analyzed the results, and Tony Wang
presented them. After result analysis a vivid paned discussion, moderated by Satu Kalliokulju
from Business Finland, took place. Panelists were Xiaofeng Liang, President at Metso:Outotec China, Olli Osara, CEO at Valio China, and Daniel Chen, Senior Vice President at Huhtamaki. Read the survey results HERE
|Energy Investment Seminar March 24|
Finnish Business Council Beijing had opportunity to introduce Finnish energy solutions at a high-level closed-door investment seminar, which was jointly hosted by Beijing Foreign Investment Club and China's biggest state-own-enterprise in energy sector State Grid Corporation of China. There are plenty of cooperation opportunities between two countries on renewable energy, Power-to-X -solutions, green hydrogen, ecosystem management... just to name few of them
|Site visit and workshop at Nokia March 25|
Finnish Business Council Beijing, Business Finland and Nokia Shanghai Bell jointly organized a site visit and workshop to introduce Nokia's 5G solutions for enterprises. Around 30 Finnish companies, mainly FBCB members from manufacturing industries participated.
Special thanks to the host Executive Vice President Susanna Patja, and whole Nokia team who's expertise and down-to-earth presentations will definitely end up to closer cooperation with other Finnish companies.
|Working visit to BEWG March 29|
Finnish Business Council BeijingChairman Juha Tuominen and Executive Director Ulla Nurmenniemi had a working visit today together with Planora Oy Han Rongxian to BEWG 北控水务。BEWG is world's second biggest company on water resources recycling and water ecological environment protection.
BEWG will soon open a competition and cooperation opportunities for Finnish students and companies on different sectors of new energy and renewable solutions. We will share more information about that on our next newsletter.
|Does your company need more visibility and contacts in China?|
Finnish Business Council 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. It's called Proxy Membership. A very cost-effective way to make your company known to a large audience, and get essential contacts for your future.
See all membership options HERE
Premium Membership benefits:
- Get your logo on frontpage of FBCB website
- Get your logo on all newsletters and event invitations
- Get an advertisement to FBCB webpage
- Write an article to FBCB Newsletter once a year
- Organize an event for other members and other people using FBCB event platform once a year
PLUS normal Membership benefits:
- NEW: Option to join FBC Premium Health Insurance Plan
- Network opportunities with all other member companies
- Keep updated what's happening in China-Finnish business
- Make new business contacts
- Access FBCB events with member price or free of charge, access member-only events
- Enjoy discounts of various service and product providers (hotels, health care, tailor, scarfs, air purifiers, etc)
- Get your company logo, description and key products to membership directory in FBCB website
Proxy membership benefits:
- Get monthly newsletter
- Get one article to newsletter when joining
- Network opportunities with all other member companies through FBCB
- Keep updated what's happening in China-Finnish business
- Make new business contacts
- When visiting in Beijing, access events with member price or free of charge, access member-only events
- Enjoy discounts of various service providers in Beijing (e.g.hotels)
- Get company logo, description and key products to membership directory on FBCB website
- NEW: Option to join FBC Premium Health Insurance Plan
CONTACT for more information:
Ulla Nurmenniemi, Executive Director, FBCB
|FBC's Premier Health Insurance|
What is the Premier Health Insurance Program about?
The Premier Health Insurance Program of the FBC is provided exclusively for company members of Finnish Business Councils. Program is run by experienced international insurance broker – Oriental Benefit Group. The program offers companies with a comprehensive coverage and affordable rates. You can get the group insurance rates even if there's only one person in the company.
Why choose the Premier Health Insurance Program?
- Reputable insurance provider with full coverage plans
- Inpatient AND Outpatient coverage, up to annual maximum
- Pre-existing medical conditions covered (conditions apply) *
- Worldwide Emergency treatment
- Emergency Medical Evacuation/Repatriation
- Global Direct Billing service
- Coverage in your Home country (excl. USA)
- Group rates/cost-saving and sustainable renewal option
- Value added services
- Free consultation for all insurance related matters, such as international travel insurance, Life and AD&D, Corporate Liability insurance, etc.
Who can join the Chamber’s Premier Health Insurance Plan?
Members of FBC
Contact us for more information. FBC Representative at Oriental Benefit Group:
Zikai Liu, Managing Partner
|Meet the board term 2021-2022|
|FBCS, FBCGD and FinnCham HK events: Click the logo below|