We live in the midst of global political and economic headwinds. In Europe, the war in Ukraine has been ongoing for more than a year. Inflation is high and interest rates keep climbing. Economist Intelligence forecasts in their Global Economic Outlook that the global growth rate will be less than 3% this year. Where does the growth come from? According to IMF, India and China are expected to account for half of global growth in 2023. China has set their growth target to 5% in the Two Sessions in March, but the target appears somewhat modest. Economist Intelligence also forecasts in their Outlook that the Chinese economy will grow by 5.7% in 2023. It will be interesting to see where it ends up. Naturally, China will also require good trade partners from Europe.

This has been reflected in the fact that the heads of state and chief executives of global corporations have been visiting China one after the other. They are united in the belief that China and its market are not an option, rather than a need. Last week we witnessed the President of France, Macron, and European Commission President von der Leyen meeting with President Xi. Both the war in Ukraine and trade between Europe and China were on their agenda, urging President Xi to take further steps to halt the war. China is believed to be in a crucial position for this task.

On March 21 we published the Finnish Business Confidence Survey Results. Based on the survey, the outlook for the revenue and profitability in China has improved from last year's survey. 81% of respondents in 2023 expect increased sales, in comparison to only 69% in 2022. 68% (vs 53% last year) expect profits to improve in China as well. This reflects well what we see now here in China. We'll be taking advantage of the situation with Team Finland, and actively look for new opportunities for our members and the Finnish business community with our partners. Team Finland's business delegation to Shandong (Qingdao, Jinan, Yantai) led by Ambassador Mikkola will take place on May 9-11, followed by a visit to Rizhao organized by FinnCham. Read more about it in the event section. In May FinnCham will also organize a mini delegation to Yongkang. More information will follow as soon as the dates and agenda are confirmed. These visits will include matchmaking opportunities with local companies for certain industries - with the assistance of local governments.

There is a growing interest for Nordic knowhow and business cooperation in China across several industries and areas. Financial media outlet Yicai released rankings on the top 20 Chinese cities in terms of foreign trade based on the data from the first two months of the year. Many areas are providing incentives for foreign businesses. For example, Hainan Free Trade Port is starting preparatory work this year for achieving independent customs operations by 2025 and will provide global traders benefits such as zero tariffs and other preferential policies facilitating imports and exports. So, if the Chinese market is in your sights, don’t hesitate to contact us or join FinnCham. Let us help you.

Our fiscal term will come to an end this month, and we are having our Annual General Meeting on April 21 (obs the new date). Member company representatives can sign up using the link in the event section. At the end of April, we will also have the Team Finland biannual meeting in Hongkong, which includes one day (April 27) for companies. It’s an excellent opportunity to tell us how we can serve you better. Our member base is also growing. On April we welcomed CFREA to join us. You can read their interesting business introduction below.

On the behalf of FinnCham I wish you a successful spring!

Ulla Nurmennieni

Executive Director

Finnish Chinese Real Estate Association （FCREA） headquartered in Helsinki’s smart city Kalasatama, was established due to the rising interest in Finland’s real estates and retail space by the Chinese, in 2019. They help clients in buying and selling real estate in Finland, renting retails space in prime locations, buying and selling restaurant businesses, relocating in Finland, and establishing business in Finland. They are the sole broker for the world’s famous SuperShe Island.

FCREA has successfully organized various group-buys for Chinese investing in the residential properties in the most valuable areas, with prices already rising around 30% in 2 years.

FCREA closely follows the City’s urban development and helps their members to obtain high ROI development projects in the early stage. In the commercial area, FCREA prioritizes retail spaces in the Uusimaa region and Pirkanmaa region.

FCREA has relocated company CEOs and diplomates with their families in Finland. They have insightful experience when it comes to school areas, including early-stage preparation to enter the school.

 

In the Hotel section, FCREA provides investment opportunities for members to be able to purchase Hotel property shares.

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