China's slowing economy under the term of "new normal" will bring along new opportunities for Nordic countries, officials and experts attending a Sino-Nordic economic forum said in Copenhagen on Thursday.
Chinese ambassador to Denmark Liu Biwei said China would constantly pursue structural reform, shift the gear of growth from a high speed to medium high, and achieve development of a higher standard from the current lower level.
"These will bring up numerous investment and cooperation opportunities for Nordic countries and the rest of the world," Liu said at the EY Nordic China Summit 2015.
The summit, hosted by Ernst & Young with Copenhagen Capacity as cooperating partner, focused on the opportunities and challenges of doing business in China as well as the growing possibilities for Nordic companies to attract Chinese investment.
Liu said the economic and trade cooperation has always played a key role in the development of diplomatic relations between China and Nordic countries, namely Denmark, Finland, Iceland, Norway, and Sweden.
Statistics from China showed that the trade volume between China and five Nordic countries totaled 41.1 billion U.S. dollars in 2014, an increase of 5.3 percent year-on-year.
Meanwhile, Chinese investment in the region was 300 million dollars in 2014, bring the investment stock to 7.9 billion dollars and accounting for almost 15 percent of entire Chinese investment in Europe.
"It is the good business environment and great innovative capability in the region that have attracted more and more Chinese investors," the ambassador told the audience.
Echoing Liu's speech, Albert Ng, Managing Partner and Chairman of EY in China, said China's economy is now different from the past but continues to be stable, as literally indicated by the word of "new normal".
He said the actual growth of China's economy remains significant while the diverse growth drivers, such as coordinated industry upgrade, urbanization, investment in technology, modernization in agriculture and domestic consumption, will bring many opportunities for companies in Nordic countries.
Albert Ng noted that China and Nordic countries all have their own advantages no matter it is regarding market, labor, technologies or innovations.
He said under China's "new normal", Nordic countries will have competitive advantages in such areas as Internet Plus, clean technologies and innovation.
"For China and Nordic countries to achieve win-win outcome, it is important to make best use of the advantages of each country," he said.
