Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Sept. 30 (Xinhua) — China's economic and trade ties with northern European countries are developing at a steady pace, as evidenced by stable trade growth, active bilateral investment, and promising cooperation in green sectors, the Ministry of Commerce said Monday.
According to the agency, China's foreign trade turnover with five Northern European countries: Denmark, Norway, Sweden, Finland, and Iceland, amounted to approximately $38 billion from January to August of this year, up 7.1 percent year-on-year.
The main export items from Northern European countries to China were pharmaceuticals and precision equipment, while the share of Chinese exports of high-value-added products, such as electrical equipment and vehicles, grew steadily, the ministry noted.
Companies from Northern European countries continue to increase their investments in China. Thus, the combined FDI in China from the five aforementioned countries has exceeded USD 15 billion.
Electric vehicles and batteries are emerging as new areas of cooperation, according to Wang Yupeng, a spokesman for China's Ministry of Commerce.
“Northern European countries have become a key market for Chinese electric vehicle and battery companies to enter Europe, as well as for accelerating cooperation in production and supply chains,” he concluded. -0-
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