China's trade with the five Nordic countries is projected to surpass 50 billion U.S. dollars by the end of this year, the Chinese Ministry of Commerce told a press conference on Tuesday.
The 6th China-Nordic Economic and Trade Cooperation Forum is set to open on Thursday in the central Chinese city of Wuhan. Despite global headwinds, China-Nordic trade has continued to grow steadily.
In the first eight months, trade between China and the five Nordic nations - Denmark, Finland, Iceland, Sweden and Norway - expanded by 5.7 percent from the same period of last year, according to Wang Yupeng, deputy director of the ministry's Department of European Affairs. Among them, trade with Sweden and Denmark each exceeded 10 billion U.S. dollars.
High-value-added products such as computer and communication equipment, pharmaceutical goods, ships, automobiles, and auto parts were key drivers of the growth.
"China's direct investment in Nordic countries reached one billion dollars in the first eight months of 2024, accounting for more than one-fifth of our total investment in Europe during the period," Wang told reporters in Beijing.
The China-Nordic Economic and Trade Cooperation Forum is China's first and only long-term mechanism dedicated to economic collaboration with the Nordic region. Nearly 100 cooperation projects worth a combined total of over 160 billion yuan (about 22.5 billion U.S. dollars) have been signed during the previous five editions.
The Nordic region is an important source of foreign investment for China. The commerce ministry encourages Nordic companies to establish research and development centers in China and to explore new cooperation opportunities in sectors such as electric vehicles and renewable energy.
China-Nordic trade expected to exceed 50 bln USD in 2024
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
