The 6th China-Nordic Economic and Trade Cooperation Forum is set to open on Thursday in central China's Wuhan City, with emerging fields such as green development and the digital economy expected to be at the top of agenda , said the Ministry of Commerce on Tuesday.
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. Agreements on cooperation in nearly 100 projects worth a combined total of over 160 billion yuan (about 22.5 billion U.S. dollars) were signed during the previous five editions.
The upcoming edition of the forum will feature emerging fields and tracks such as green and low-carbon development and the digital economy, and will include more than 10 special events such as the Green Shipping Development Forum, the New Energy Vehicle Industry Matchmaking Meeting, and the Cross-border E-commerce Cooperation Forum, Wang Yupeng, deputy director of the ministry's Department of European Affairs, told a press conference in Beijing.
"We will hold events to promote characteristic industries from local regions and cities and dialogues with multinational companies, and invite representative enterprises and business associations of Nordic countries in China, with the participation of well-known domestic entrepreneurs and scholars. We want to promote more cooperation through precise matchmaking and pragmatic negotiations," Wang said.
China and Nordic countries have broadened their trade and economic cooperation in recent years, with expanded scale and improved quality. During the first eight months of this year, trade volume between China and the five Nordic countries, comprising Finland, Norway, Iceland, Sweden and Denmark, reached 35.44 billion U.S. dollars, up 5.7 percent year on year, according to the ministry.
2024 China-Nordic trade forum to highlight emerging sectors: commerce ministry
The 2024 Paris Motor Show kicked off on Monday in Paris, which is expected to attract 500,000 visitors over its seven-day run.
Nine Chinese electric vehicle (EV) manufacturers are showcasing their latest models at the show, as they seek to expand their presence in the French and wider European markets.
Chinese brands, including BYD, Hongqi, GAC, and AITO, have occupied significant space in Pavilion 5, where they are showcasing their latest models, innovative designs, and technological advancements.
The BYD debuted its Sealion 7, a mid-size electric SUV, and introduced its luxury Yangwang U8 SUV to the French market.
Xpeng unveiled its P7+ model, which it describes as "the world's first artificial intelligence (AI) vehicle," with prices starting from 209,800 yuan (about 29,600 dollars) per unit. Leapmotor, in collaboration with Stellantis, introduced the B10 model, a compact electric SUV that will be manufactured in Poland for European consumers, according to Leapmotor. It aims to have 500 sales points by the end of 2025 in the region.
China-built EVs totalled 3.5 percent of new registrations in the EU market in 2020, which rose to 27 percent in the second quarter of this year, prompting the EU to take tariff measures to protect its auto producers.
Some Chinese carmakers are now considering to manufacture their vehicles in Europe so that would allow them to bypass the new taxes imposed by the EU from next month on China-produced EVs.
The BYD is already expanding its operation in Europe, according to its European head of communications Jean-Briac Dalibard.
"Through its (BYD's) technology and through its investment in R&D, you must know that we have more than 100,000 engineers. So basically we are having 15 patterns approved every day of the week," Dalibard said in an interview with China Global Television Network, expressing the belief that the BYD is uniquely placed to overtake established European names.
Sales in China for Germany's BMW and Mini, the British brand it owns, fell 30 percent last quarter. German combustion models used to dominate the Chinese market, but EVs and plug-in hybrids now make up more than half of car sales in China.
"We can see competitors, we have many competitors here on the Paris Motor Show and they are offering new electric cars, really interesting for market with lower prices, with smaller cars as well. And it's really interesting," said a staff member from the Czech automobile manufacturer Skoda.
Despite the huge number of chargeable car models making their debut at the Paris Motor Show, EU countries are starting to phase out customer incentives to go green, due to high costs at a time when public finances are tight. While European consumers are still buying EVs, sales of European brands are slowing, coinciding with a rapid shift to EVs from market competitors like China.
The Paris Motor Show spans five halls with 70,000 square meters of indoor space and an additional 15,000 square meters of outdoor exhibition space this year.
Paris Motor Show kicks off with Chinese EV brands showcasing latest models
