The Chinese market is full of opportunities and challenges. It is Sweden's largest trading partner in Asia and a key market for many Swedish companies. But doing business in China is not a walk in the park. The market is facing a number of challenges caused by geopolitics and a weak economy, and some of China's industrial policies make it challenging for foreign companies to compete. It is, however, not a market to ignore. In order to stay competitive in Asia and the world, China will, for many companies, remain a key to success also moving forward.
The Chinese economy is facing a number of post-pandemic challenges, with the growth trajectory being less certain than before. Foreign companies are also expressing concerns related to a more challenging and volatile business environment, with factors such as decoupling and a buy-domestic push affecting sales while also increasing cost of doing business. At the same time, the Chinese market is evolving rapidly, and has undergone a significant change within areas such as technology, sustainability and quality.
China is Sweden's largest trading partner in Asia. Notably, over 600 Swedish companies have established local subsidiaries in the Chinese market. As China's influence extends globally through its companies venturing abroad, international enterprises also seek insights and inspiration from its development. Thus, a comprehensive understanding of the Chinese market and its role in a regional and global context is imperative for businesses operating on the international stage.
In this Market Outlook, Joakim Abeleen, Sweden's Trade Commissioner to China and Vice President at Business Sweden, will share insights on the current market situation and the business climate for Swedish companies. He will also discuss China's role in a regional context and how companies can navigate the increasing geopolitical challenges.
NB: This is an in-person event.
Sweden's Trade Commissioner to China & Vice President East Asia and Pacific at Business Sweden - The Swedish Trade & Invest Council