Minister Väyrynen: Southern China a significant stepping stone to Chinese markets
Press Release 298/2010
13 October 2010
Minister for Foreign Trade and Development Paavo Väyrynen considers Southern China a major locomotive for both the Chinese economy and the global economy, and sees it as an area with great potential for Finnish companies. Minister Väyrynen expressed his views after having visited Hong Kong and Shenzhen on 11–13 October.
“The special arrangements for economic development in Southern China have enabled rapid growth of the economy and trade, and Finnish companies have had a role in this. However, the possibilities offered by the Hong Kong Special Administrative Region and the Shenzhen Special Economic Zone have hardly been utilized to the full.”
Väyrynen pointed out that over half the world’s population is within five hours of flight time from Hong Kong. In addition, close economic cooperation between Hong Kong and Shenzhen creates extensive opportunities for cooperation to reach markets with tens of millions of people. Cooperation in the spheres of information technology and cleantech, in particular, rose to the fore in meetings with Rita Lau, Secretary for Commerce and Economic Development of the Hong Kong Government, and leaders of the City of Shenzhen. One of the prime examples Väyrynen mentioned was the establishment in Finland of the ‘Golden Bridge’ Chinese Innovation Centre now under preparation. This is the first Chinese Innovation Centre to be set up abroad.
“At the same time as Southern China offers impressive horizons for both Chinese and global markets, it is also good to remember Finland’s importance to Chinese businesses as a gateway to the rest of Europe – the shortest route from Asia to Europe is by way of Finland,” Väyrynen noted.
The minister also stated that Finnish companies in China must strive to work together as closely as possible.
“With a few exceptions, Finnish companies are small from the global perspective, and so the more effectively we are able to benefit from one another’s strengths through cooperation, the better our possibilities are,” Väyrynen emphasized. This also came up during the minister’s meeting with representatives of the Finnish Business Council in Shenzhen.
Minister Väyrynen is currently on an export promotion trip to China, which will last a little less than a week. Aside from Hong Kong and Shenzhen, he will also visit Shanghai. The minister is accompanied by a business delegation of 25 people, who mainly represent companies in the sectors of information technology and financing.
Additional information: Päivi Nevala, Adviser to the Minister for Foreign Trade and Development, mobile tel. +358 40 753 4375