Bright prospects based on solid history

As China and Finland commemorate 74 years of diplomatic ties, the long-standing partnership between the two nations stands as a testament to mutual cooperation and shared prosperity.

Over the decades, China and Finland have forged strong bonds in various sectors, with a focus on economic collaboration, trade relations and investment ventures that have laid a solid foundation for continued growth.

In his recent article titled Join Hands Together on the Right Path, Usher in a Brighter Prospect for Humanity — In Commemoration of the 75th Anniversary of the Founding of the People's Republic of China published by Daily Finland, Chinese Ambassador to Finland Wang Tongqing said that over the past 74 years, based on the principles of mutual respect, equality and win-win cooperation, bilateral relations have consistently maintained solid momentum, leading to fruitful cooperation results in various fields.

"We are prepared to enhance our traditional friendship with Finland, increase exchanges at all levels, and deepen practical cooperation in areas such as the forest industry, agriculture and food products, information and communications, energy and environmental protection, science, technology, education, and winter sports, in order to bring more benefits to our peoples," Wang said.

In 1953, China and Finland inked a government-to-government trade and payment agreement, which was the first such agreement China signed with a Western country. Since then, Finland has become a pioneer and exemplar of practical economic and trade cooperation between China and Europe.

Ambassador Wang had previously said that over the past 70 years, China and Finland have brought tangible benefits to their peoples in trade, investment and connectivity. Furthermore, Finland's green economy and silver economy have unique advantages and will be the future direction of cooperation between the two countries.

As of 2023, China has been Finland's largest trading partner in Asia for 21 consecutive years. Finland is China's third-largest trading partner in the Nordic region. According to Chinese customs statistics, bilateral trade amounted to $8.2 billion last year, with China exporting $3.27 billion and importing $4.93 billion.

Wang said that bilateral investment between China and Finland is also becoming increasingly active. China's unique advantage lies in its vast market demand and comprehensive industrial system, while Finland boasts strong overall competitiveness, advanced technological levels and a top-notch business environment.

Finnish companies such as Valmet, a leading developer and supplier of process technologies, automation and services for the pulp, paper and energy industries, Stora Enso, a leading provider of renewable products in packaging, biomaterials and wooden construction, and escalator company Kone Corp have launched key investment projects in China.

On the other hand, Chinese enterprises, including Huawei, CATL, Anta, China COSCO Shipping and Tencent, have established a strong presence in Finland, primarily in the fields of information and communication technology, high-end manufacturing, clean technology, biopharmaceuticals, shipping, wholesale and retail, and services.