CPPCC Vice Chairman and ACFIC Chairman Wang Qinmin expressed hope that China and Norway will work side by side to push forward economic globalization and free trade and play a positive role in pursuing stable, balanced and sustainable growth of the world economy.
Wang made the remarks at the Norway-China Business Summit 2017 in Beijing on April 7, during which Chinese and Norwegian enterprises signed 13 agreements of cooperation in maritime produce import, shipbuilding, education, energy and other sectors.
Over 900 business elites held in-depth discussions under the theme of creating a sustainable solution and building a better future at the event, jointly hosted by the Norwegian Embassy, ACFIC, Innovation Norway, and the China Enterprises Confederation.
Norwegian Prime Minister Erna Solberg hailed the renormalization of Sino-Norwegian political and diplomatic ties, saying that it has created enormous opportunity for Norway’s business and employment. She said she looked forward to restarting free trade talks with China, Norway’s biggest trade partner in Asia.
Wang noted that business cooperation is the ballast stone of bilateral relations. The economies of China and Norway have strong complementarity and profound foundation for mutual benefit and collaboration; and cementing their bilateral ties is conducive to the fundamental interests of their people.
He said that the Chinese economy, following nearly four decades of reform and opening-up, is now deeply integrated into the global economy, and with over 30% of contribution to the global economic growth in 2016, China has become the top engine of world economic growth.
Norway, with its superior environment of innovation, strong research capability, and outstanding resource power, as well as unique advantages and characters in shipping, fishing, energy, environmental protection and oil and gas exploration, has expanded its business ties with China from trade to investment cooperation, technology transfer, engineering projects and other sectors.
By December 2016, Norway has had 495 investment projects in China with investment totaling 620 million USD, while China’s investment in Norway has amounted to 3.55 billion USD.
Wang noted that economic globalization and regional economic integration have been two important engines of rapid growth of the world economy over the past few decades, and China, as an active participant in economic globalization facing global situation changes and domestic development demands, will further improve its opening-up strategy, accelerating the construction of an open and new economic mechanism, and promoting profound and higher-level opening up.
Norway, one of the key nations in northern Europe, has a highly developed open market economy and is an advocate for free trade. China’s development will create even more opportunities to their bilateral cooperation, in both domestic and international markets development, he said.
Business delegates from both sides also held seminars on China-Norway oil and natural gas collaboration, green smart city and green transformation, start-up enterprises and innovation, healthcare and welfare technology, tourism, digital market and shared economy.