On 20 May, 2025, Chinese Ambassador to Sweden Cui Aimin attended the working lunch hosted by Sweden-China Trade Council and delivered a keynote speech entitled：”Joining Hands to Meet Challenges, Embracing the Future, And Taking China-Sweden Economic and Trade Cooperation onto a New Journey”. The full text is as follows：

Distinguished Chairman Ulf Pehrsson, 
Dear members of the Sweden-China Trade Council,
Ladies and gentlemen, 

Good afternoon!

It gives me great pleasure to attend the working lunch with SCTC again. On the occasion of the 75th anniversary of the establishment of diplomatic relations between the People's Republic of China and Sweden, I would like to exchange views with you on China's economy and the economic and trade cooperation between China and Sweden.

1. China's economy has remained stable and has got off to a good start.

The world has now entered a new period of turbulence and transformation. Despite rising unilateralism and protectionism as well as other challenges, China's economy has forged ahead, achieving a 5% GDP growth in 2024, and it continues to serve as an important engine of global economic development. At the "Two Sessions" held in March, China set this year's GDP growth target at 5%, a figure that aligns with the country's reality and development trajectory. Since the beginning of this year, China's economy has continued the momentum of recovery shown in the fourth quarter of last year, marking a positive and promising start.

Firstly, GDP growth rate exceeded expectations. According to preliminary estimates, China's GDP grew by 5.4% year-on-year in the first quarter, continuing to lead among the world's major economies. Secondly, solid progress has been made in promoting green transition. China has been vigorously developing green and low-carbon industries, and established the world's largest and most complete new energy industry chain. China is the world's biggest renewable energy equipment manufacturer, including for wind and solar power generation. This March, the installed capacity of wind and solar power surpassed that of thermal power for the first time. Thirdly, innovation vitality is fully unleashed. In the first quarter of this year, added value of high-tech manufacturing industries over the designated size grew by 9.7% year-on-year. Companies such as Unitree Robotics and DeepSeek are leading the development of artificial intelligence. China's manufacturing industry is steadily advancing toward higher-end and more intelligent development. Fourthly, consumer spending has shown outstanding performance. Its fundamental role in driving economic growth has been further reinforced, with big-ticket consumer goods such as automobiles and home appliances gaining a new round of growth. The film Ne Zha II ranks fifth in global box office history now. During the May Day holiday, the number of travelers surged, showcasing the dynamism of a"China in Motion". Fifthly, high-standard opening up continues to advance. Despite headwinds in global trade, China's foreign trade has demonstrated remarkable resilience. China has eased and improved its visa-free transit policy, which has contributed to the booming tourism in China.

When meeting with global business leaders recently, President Xi Jinping pointed out that China has been a major contributor to and anchor of stability for global growth for many years. The country is on a Chinese path to modernization in all respects. China offers a vast stage for business development, vast market prospects, stable policy outlook, and a secure environment, making it a favored choice for foreign investment and business operations. Foreign businesses played an important role in promoting China's reform and opening-up and Chinese modernization. They are important participants in the Chinese modernization drive, in the country's reform and opening up and innovation, and in its interconnectivity with the world and integration into economic globalization. China is committed to promoting reform and opening up, and China's door will only open wider. The policy of welcoming foreign investment has not changed and will not change. China has been, is and will remain an ideal, secure, and promising destination for foreign investors. Embracing China is embracing opportunities, believing in China is believing in a better tomorrow, and investing in China is investing in the future.

For some time, global economic development has faced significant challenges and uncertainties. The U.S. has imposed tariffs on all its trading partners under various pretexts. This action seriously harms normal trade, severely undermines international economic and trade order, deals a heavy blow to the stability of global economic development, and runs against market rules and the overriding trend of openness. This has drawn widespread criticism and opposition from the international community. In response to these unjustified unilateral tariff measures, China has taken resolute and forceful countermeasures. China-U.S. economic and trade cooperation, which is vital to global economic and trade development, has come to a virtual standstill. Since then, China has conducted a thorough assessment of global expectations, its own development interests, and appeals from U.S. businesses and consumers, and on that basis, China has agreed to engage in dialogue with the U.S.. A week ago, the two countries released a Joint Statement on China-U.S. Economic and Trade Meeting in Geneva, which was reached through equal dialogue and consultation. Both countries significantly lowered bilateral tariff level by removing 91 percentage points of the additional tariffs, suspending 24 percentage points for 90 days, while retaining the remaining 10 percent. This measure serves the common interests of both countries and the world, and brings more certainty and stability to the world economy. Many international institutions have made positive predictions. Goldman Sachs, for example, lowered its U.S. recession forecast, while major banks such as UBS and Morgan Stanley raised their forecasts for China's economic growth. 

We have noticed that some economies are also negotiating with the U.S. It should be emphasized that only mutual openness, mutual respect and equal consultation are the right path of resolving differences. Trade protectionism will lead nowhere. China will work with all parties to deepen mutually beneficial cooperation, strengthen communication and coordination, jointly oppose unilateral protectionism, hegemony and bullying, jointly uphold free trade and multilateralism, and promote a universally beneficial and inclusive economic globalization.

2. The economic and trade cooperation between China and the EU and between China and Sweden has enjoyed stable growth and bright prospects.

Recently, President Xi Jinping exchanged congratulatory messages with leaders of the EU to celebrate the 50th anniversary of the establishment of diplomatic relations between China and the EU. In the half-century-long China-EU relationship, the most valuable asset is mutual respect, the most powerful impetus is mutual benefit, the greatest unifying consensus is multilateralism, and the most accurate characterization is partnership. A healthy and stable China-EU relationship will lift up both sides and make for a brighter world.

On the occasion of the 75th anniversary of China-Sweden diplomatic relations, President Xi Jinping and King Carl XVI Gustaf exchanged congratulatory messages, expressing their positive expectations for the continued growth of China-Sweden friendly relations. Over the past 75 years, China and Sweden economic and trade relations have achieved remarkable progress in various areas, including home goods retail, biopharmaceuticals, automotive manufacturing, information and communication, as well as low-carbon development and environmental protection. Although the bilateral economic and trade cooperation has faced some challenges, our two countries share a deep bond of traditional friendship, complementary industrial strengths, and bright prospects for practical cooperation.

Firstly, China-Sweden economic and trade cooperation is built on a solid foundation. China and Sweden are each other's largest trading partner in Asia and the Nordic region respectively. Currently, more than 10,000 Swedish enterprises have trade relations with China, and over 600 Swedish companies operate in China. Meanwhile, more and more Chinese people are studying, traveling, investing and starting business in Sweden. These two-way exchanges will further strengthen mutual understanding, friendship and mutual trust between the two countries and two peoples.

Secondly, China and Sweden share complementary industrial strengths. Sweden ranks among the world's top in the Global Innovation Index, and its innovations and inventions have a profound impact on global science and technology development. China is committed to promoting the transformation and upgrading of traditional industries, and to pursuing modernization through peaceful development. China boasts a complete industrial system, a vast consumer market, and significant "talent dividend". We hope that Swedish high-tech enterprises, especially small and medium-sized enterprises, wilI explore new business opportunities in China's vibrant market and achieve greater development.

Thirdly, practical cooperation between China and Sweden has maintained a positive momentum. In 2024, several Swedish senior officials visited China and engaged in constructive dialogues with relevant Chinese departments. Recently, a delegation from the Ministry of Commerce of China visited Sweden. The two sides restarted the China-Sweden Joint Committee on Economic, Industrial and Technical Cooperation, jointly held a series of economic and trade events, and established the Working Group on Green Transition Investments. Enterprises from both countries actively pursued cooperation opportunities. These achievements would not be possible without the support from the Swedish business community, including the deep engagement of SCTC and Business Sweden. I would like to take this opportunities to express my sincere gratitude.

Last but not least, it is hoped that we could stay true to the commitment we made when establishing diplomatic relations, and join hands to meet challenges, embrace the future, and take China-Sweden economic and trade cooperation onto a new journey. 

Thank you!