Your Excellency Ambassador Per Augustsson,

Distinguished Chairman Peter Ling-Vannerus,

Dear friends of the business community,

Ladies and gentleman,

Good evening! I would like to thank the Swedish Chamber of Commerce in China for inviting me to exchange views with you via video link. The theme of today’s forum is sustainable development, innovation and cross-border cooperation, which is in line with China’s efforts to promote high-quality development and high-standard opening up. I would like to take this opportunity to share the latest updates on China’s economic situation, and China-Sweden economic and trade cooperation.

The world has now entered a new period of turbulence and transformation. Despite rising unilateralism and protectionism as well as other challenges, China’s economy has forged ahead, achieving a 5% GDP growth in 2024, and it continues to serve as an important engine of global economic development. At the recently concluded “Two Sessions”, China set this year’s GDP growth target at 5%, a figure that aligns with the country’s reality and development trajectory. In the first quarter of this year, China’s economy maintained a positive momentum. Firstly, solid progress has been made in promoting green transition and green development. The new energy industry, represented by new energy vehicles, lithium-ion batteries, and photovoltaic products, continues to grow rapidly. In the first quarter, the proportion of non-fossil energy consumption in total energy consumption increased by 1.5 percentage points compared with the same period last year. Secondly, innovation vitality is fully unleashed. The added value of the “three new” economy, referring to a collection of economic activities with new industries, new business formats, and new business models, contributed to 18% of China’s economic growth last year. In the first quarter of this year, the added value of high-tech manufacturing industries above designated size increased by 9.7% year-on-year. Companies such as Unitree Robotics and DeepSeek are leading the development of artificial intelligence. Thirdly, high-standard opening up continues to move forward. In the first quarter, exports to Belt and Road partner countries grew by 7.2% year-on-year. The dependence on a single export market is declining and a diversified market pattern is taking shape. On March 28, President Xi Jinping met with representatives of the international business community and delivered an important speech, which greatly boosted the confidence of foreign investors. Many foreign enterprises remain optimistic about the Chinese market.

In 1739, the Ship Götheborg first sailed to China, paving the way for China-Sweden Maritime Silk Road. It also witnessed the beginning of friendship between our two countries and sowed the seeds of bilateral economic and trade cooperation. This year marks the 75th anniversary of the establishment of diplomatic relations between China and Sweden. Sweden was the first Western country to establish diplomatic relations with the People’s Republic of China, and also the first country to sign a bilateral investment protection agreement with China after the beginning of reform and opening up. The two countries have close economic and trade ties, and remained each other’s largest trading partner in Asia and the Nordic region respectively for many years. Just recently, Chinese Vice Minister of Commerce Ling Ji led a delegation to visit Sweden, and a series of economic and trade events were held and warmly received. Meanwhile, the China-Sweden Joint Committee on Economic, Industrial and Technical Cooperation was restarted after an eight-year suspension, which strengthened the confidence of Chinese and Swedish enterprises in further deepening their cooperation.

Sweden is a strong advocate for free trade. Attaching great importance to science and education. Sweden ranks among the world’s top countries on the Global Innovation Index and leads the world in the development of a green economy. China and Sweden have broad space for cooperation in the fields of smart manufacturing, life sciences, digital economy, low-carbon development and environmental protection, and so on. Today, friends from the Chinese and Swedish business communities gather together to deepen our friendship, exchange views on development, and open a new chapter in our cooperation. May the path of cooperation between our two countries continue to widen, and the bridge of friendship become ever stronger.

Thank you!