China's trade with Nordic countries maintains steady growth momentum

BEIJING, Sept. 29 (Xinhua) -- China's economic and trade ties with the Nordic countries have maintained steady momentum, marked by stable trade growth, robust bilateral investment and burgeoning cooperation in green sectors, the Ministry of Commerce said on Monday.

From January to August this year, trade between China and the five Nordic countries -- Denmark, Norway, Sweden, Finland and Iceland -- totaled approximately 38 billion U.S. dollars, up 7.1 percent year on year, ministry data shows.

Pharmaceuticals and precision machinery are the Nordic countries' main exports to China, and the export share of high-value-added products such as electrical equipment and vehicles has risen steadily, the ministry said.

Nordic companies have continued to increase their investment in China, with cumulative direct investment from the five countries exceeding 15 billion U.S. dollars, according to the ministry.

Looking ahead, ministry official Wang Yupeng said that electric vehicles (EVs) and power batteries are emerging as new areas of cooperation.

"The Nordic countries have become a key market for Chinese EV and battery companies to enter Europe, and to accelerate production and supply chain cooperation," Wang said.