China signaled a renewed commercial outreach to Sweden and the broader European business community during a meeting in Stockholm between Foreign Minister Wang Yi and Jacob Wallenberg, chairman of Investor AB. According to a statement from China's Foreign Ministry, Wang framed deeper business engagement as beneficial for all parties and noted the historical role of the Wallenberg family among the first European investors in China after the country's reform and opening-up.
Wang said he expects the Wallenberg family and Sweden's business sector more generally to remain supportive of efforts to strengthen bilateral ties. He described ongoing work between Beijing and Stockholm to restore mutual trust, broaden practical cooperation, and guide relations back to what he called a healthier trajectory.
During the exchange, Wang reiterated several policy priorities Beijing says are designed to make the country more attractive to foreign firms: measures to shore up domestic demand, steps to broaden high-level opening-up, and continued support for free trade and market-oriented economic principles. He said such policies will generate additional openings for foreign companies operating in China.
The comments arrive as Chinese authorities seek to reassure international investors after several years characterized by slowing economic growth, subdued consumer demand, and elevated geopolitical tensions with Western governments. Policymakers, the Foreign Ministry's account said, have placed greater emphasis on stabilizing foreign investment and encouraging multinational companies to increase their presence in the world's second-largest economy.
At the same time, relations between China and the European Union have shown signs of renewed engagement in recent months, even as disagreements persist over trade, electric vehicles and technology export controls. European business groups continue to press for improved market access and more predictable regulatory conditions for foreign firms operating in China.
The Stockholm meeting occurred in the run-up to a China-EU leaders' summit expected later this month. Trade, investment and economic cooperation are slated to be prominent items on the summit agenda, alongside broader geopolitical issues.
Summary of the interaction
- Wang Yi met Jacob Wallenberg in Stockholm and praised the Wallenberg family's early investments in China following reform and opening-up policies.
- Wang emphasized Beijing's desire to rebuild trust with Sweden, expand practical cooperation, and return bilateral relations to a healthier course.
- He reiterated Beijing's commitment to boosting domestic demand, opening markets at a higher level, and supporting free trade and market-based principles to create opportunities for foreign firms.
Context and timing
The meeting takes place ahead of a China-EU leaders' summit scheduled later this month, where trade, investment and economic cooperation are expected to be major discussion points alongside geopolitical concerns.