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China continues to attract Swedish companies

(Xinhua)
Updated: 2008-10-26 16:14

More and more Swedish companies are investing in China with an average one company entering the Chinese market each four days, the Swedish daily Dagens Industri reported Saturday.

From July 2007 to June 2008, almost 100 Swedish companies set up branches in China, according to a survey published on the newspaper.

Most of the newly-established firms in China are small companies, whose employees are usually less than 100, said the survey, conducted jointly by Swedish bank SEB and the Swedish Trade Council.

Swedish companies based in China have a tradition of producing export goods, but they begin focusing on the Chinese market now, it added.

"More and more Swedish companies become interested in China. Investing and coming to China is an obvious trend among Swedish businessmen now," Carl Christensson, the chief of SEB in Shanghai, told Dagens Industri.

Christensson said Swedish companies, whose business include service, medical care, environment and consumer goods, are attracted by increased Chinese middle-class recently, while the majority of big companies have achieved great success by merging and acquisition in Chinese markets.

A total of 550 Swedish companies have opened branches or offices in China and about 10,000 companies from Sweden are doing business with Chinese firms, the survey said.