SHANGHAI (Xinhua) – As China unleashes huge market potential, Swedish companies have quickened their pace in exploring Chinese market via the annual China International Import Expo (CIIE).
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“China is a major destination of Swedish mechanical products, but Swedish food and farm produce companies still have a long way to go so as to gain larger market shares in China,” said Per Linden, director of the Swedish Chamber of Commerce in China.
Per Linden said the commerce’s training programmes on localisation strategy and on-site tours are especially popular among small and medium-sized Swedish companies as they are more eager to adjust their product lines to cater to Chinese customers.
“For example, vodka in European markets usually contain 40 percent of alcohol, but Chinese people are prone to buy the liquor with higher percentage of alcohol and stronger fragrance,” Mr Per said.
Nordmarkens, a famous vodka maker, then created several hot sellers on the Chinese market with tailored vodka products containing 55 percent of alcohol.
Meanwhile, more Swedish companies are turning to the annual CIIE to launch their new products in China.
Natural food supplier Plantamed AB, Volvo and Ikea have recently signed up for the coming second CIIE slated to take place this November.
A total of 15 Swedish companies attended the first CIIE last year with industries including intelligent equipment, automobile, consumer electronics and home appliances, food and agricultural products, medical equipment, healthcare as well as service trade, according to the organizer of CIIE.
In northern Europe, Sweden is China’s biggest trading partner. In 2018, the bilateral trade volume between the two countries increased by 15 percent.