2023 China-Nordic Economic and Trade Cooperation Forum Opens in Wuhan, Hubei

On November 14, the 2023 China-Nordic Economic and Trade Cooperation Forum opened in Wuhan. Co-hosted by the Ministry of Commerce and the People's Government of Hubei Province, this forum aims to continuously build a platform for China-Europe dialogue, inviting global merchants to share in new open opportunities and explore new international routes.

2023 China-Nordic Economic and Trade Cooperation Forum Opens in Wuhan[Photo Via the Department of Commerce of Hubei Province]

In recent years, the Nordic countries have achieved fruitful cooperation with China in trade, investment, and other fields, forming a multi-level, wide-ranging pattern of collaboration. According to data, the trade volume between China and the five Nordic countries reached USD 60 billion in 2022, nearly 1.5 times the amount in the inaugural forum in 2018, and the scale of bilateral direct investment approached USD 33 billion.

Ling Ji, Deputy Director-General of the Ministry of Commerce, stated that Hubei has become the first and currently the only province in China to establish a long-term mechanism for economic and trade cooperation with the Nordic countries. It plays a significant role as a key participant, contributor, and beneficiary of China's cooperation with the Nordic countries.

In the current year, Hubei's economy has continued to improve, with a total economic output surpassing CNY 5 trillion, ranking seventh nationwide. The GDP growth for the first three quarters of this year is 6 percent, 0.8 percentage points higher than the national average. "This data reflects the development potential and economic reality of Hubei Province as a major economically developed province in central China. Our cooperation with Wuhan, Hubei, began eight years ago, and we will continue to support Hubei's sustainable development," said Wu Bolong, CEO of the Swedish Dellner Group, introducing Hubei to guests from home and abroad.

Concurrently with the forum, Hubei-Nordic (Europe) Business Cooperation Conference was held, focusing on areas of common concern for China and Europe, such as carbon neutrality, new energy, and cross-border e-commerce. This provides an important platform for multinational companies to deepen their roots in China and expand into the large market of central China.