A Finnish company is looking to expand into the Chinese Market since the world’s second biggest economy has quickly recovered after containing the COVID-19 Outbreak domestically.
China has become the first major economy to show growth since the coronavirus started sweeping across the globe earlier this year, according to reports from the International Monetary Fund and the Organization for Economic Co-operation and Development.
Marko Kurvinen, CEO of Suomen Biathlon Oy, which is a world-class pioneer in biathlon target and range systems, said China’s recovery from the coronavirus is impressive after attending the World Winter Sports (Beijing) Expo this September.
“Other countries are suffering from COVID-19 so deeply. Then still China’s inside market is working. China is recovering faster than any other side of the world,” said Kurvinen.
His company plans to increase cooperation with its Chinese partners, and in his opinion, the target of getting 300 million Chinese involved in winter sports as part of China’s successful bid for Beijing 2022 is gaining traction.
“Chinese ice and snow industry is developing now quite fast. Everybody can see what is this ice and snow sport. And I believe Chinese ice and snow sport have a good, great future. We’ve been also planning to start a joint-venture company when we see how the market is starting to develop then we can make more and more decisions,” he said.
Independent consultant David Ramirez with London-based think tank International Institute for Strategic Studies is also optimistic about China’s promising market
In his report titled COVID-19: “Global trade and supply chains after the pandemic” Ramirez said that reliability will replace low costs as the main objective of global supply chains after the pandemic wanes. China will be a reliable production and trading platform for transnational enterprises for its complete infrastructure, large economic volume and vast consumer market in the post-COVID-19 world.
“China plays a key role in the global supply chain. For example, if we talk about industry, manufacturing, it represents about 25 percent of the manufacturing supply chain in the world.
From April, there has been an import growth of 22 percent, that means that China is demanding more from the rest of the world. And undeniably, that is going to help the rest of the world to recover also from this situation,” he said.
Ramirez said China will accelerate its development initiatives including the Belt & Road Initiative after this pandemic is over, which undeniably could help drive the world economy.