China seeks closer business ties with Europe as Wang meets Wallenberg

China welcomes deeper cooperation with Swedish and European businesses and sees closer commercial ties as beneficial for all parties, Foreign Minister Wang Yi said during a meeting with Investor AB Chairman Jacob Wallenberg in Stockholm, Bloomberg reported.According to China’s Foreign Ministry, Wang said the Wallenberg family was among the first European business groups to invest in China following the country’s reform and opening-up policies, helping strengthen economic relations between China and Sweden over several decades.    The foreign minister said he hopes the Wallenberg family and Sweden’s broader business community will continue supporting efforts to improve bilateral relations. He added that Beijing and Stockholm are working to rebuild mutual trust, expand practical cooperation, and return relations to what he described as a healthier path. Wang also reiterated China’s commitment to boosting domestic demand, expanding high-level opening-up, and supporting free trade and market-based economic principles. He said these policies would create additional opportunities for foreign companies operating in the Chinese market.

The comments come as Beijing seeks to reassure international investors following several years of slowing economic growth, weak consumer demand and heightened geopolitical tensions with Western countries.    Chinese policymakers have increasingly emphasized measures to stabilize foreign investment and encourage multinational companies to expand their presence in the world’s second-largest economy.      Relations between China and the European Union have also shown signs of renewed engagement in recent months despite ongoing disagreements over trade, electric vehicles and technology exports.   European business groups have continued to call for improved market access and more predictable regulatory conditions for foreign companies operating in China.   The meeting took place ahead of a China-EU leaders’ summit expected later this month, where trade, investment and economic cooperation are expected to feature prominently alongside broader geopolitical issues.