The “2024 Finland-China Business Summit” themed “Fostering Sustainable Development,” took place in Shanghai on October 31. Co-hosted by M31 Capital, the Confederation of Finnish Industries (EK), Business Finland, and the Finnish Consulate General in Shanghai, the summit aimed to identify strategic opportunities for energy transition and sustainable growth amid today’s complex economic environment. Finnish President Alexander Stubb and Agriculture and Forestry Minister Sari Essayah joined nearly 200 influential entrepreneurs, investors, and policymakers to develop actionable pathways toward sustainable development.
The summit represented the highest level of commercial engagement between private entrepreneurs, investors, and senior government officials from China and Finland during President Stubb’s visit to China. It brought together over 40 prominent Chinese business leaders from major companies, including Tsingshan Group, JD.com, Cainiao, Ctrip, BYD, Geely Auto, Foxconn, Mingyang Smart Energy, Sungrow Power Supply, LONGi, SAIC Motor, Juneyao Group, Inovance, FoxESS, REPT Battero Energy, SUS Environment, Hesai Technology, Boyu Capital, Juss Sports, Tuya Smart, King & Wood Mallesons, and others. They engaged with Finnish counterparts from companies such as Nokia, Finnair, KONE, the Finnish Minerals Group, Marimekko, Wartsila, and more.
Participants engaged in robust discussions on energy transition, smart manufacturing, and emerging technologies—key pillars of M31 Capital’s investment strategy, highlighting a shared commitment to sustainable growth.
In his keynote address, President Stubb underscored the potential for Finnish and Chinese innovations to address critical global challenges exacerbated by the climate crisis. He stressed the urgency of international cooperation in combating climate change.
As of 2023, China has been Finland’s largest trading partner in Asia for 21 consecutive years, with Finland positioned as China’s third-largest Nordic trading partner. Key sectors driving this partnership include clean energy, green technology, and high-tech industries.
“Climate change is a long-term trend and an area we need to take very seriously. There is significant business potential here,” said Patrick Zhong, Founding Managing Partner of M31 Capital. “Finland possesses a competitive edge in clean energy and technology, complemented by a favorable business environment. China’s strengths lie in its extensive market demand and robust industrial capabilities.”
Patrick emphasized that sustainability has dual dimensions: the collective responsibility to protect the environment and the imperative to forge sustainable partnerships.
During the summit’s roundtables, participants explored successful Sino-Finnish cooperation models with potential global implications. The first session, moderated by Patrick and titled “Successful Cooperation Models Between Finland and China” featured speakers including Jussi Herlin (Vice Chair of KONE), Antti Salminen (CEO of Kemira), Lin Wan (CEO of Cainiao Network), and Ye Zhou (Group VP at JD.com), who shared their strategies and outlooks.
The second session, led by Jukka Maksimainen of McKinsey & Company, tackled “How the World Will Benefit from Strong Finland-China Collaboration” . Panelists such as Kai Oistamo (CEO of Vaisala), Matti Hietanen (CEO of Finnish Minerals Group), Haijun Wang (President of Tsingshan Group), and Chuanwei Zhang (Chairman of Mingyang Smart Energy) discussed how collaboration between Finland and China can drive global growth and sustainable development.
Reflecting on KONE’s entry into China in the 1990s, Jussi Herlin stated, “China is KONE’s largest single market globally. We believed in integration with the local community and the power of partnership.” Matti Hietanen highlighted China’s key role in the energy transition, while Haijun Wang emphasized that genuine business collaboration is critical for broadening market access and deepening mutual understanding.
The investment landscape between China and Finland has evolved significantly in recent years, marked by numerous strategic ventures. This summit reinforced that legacy, with entrepreneurs focusing on green technology, energy transition, and advanced manufacturing. Chinese executives acknowledged Finland’s leadership in sustainable construction and clean water, while Finnish leaders recognized China’s vital contributions to emerging technologies and climate action.
As the summit concluded, Patrick Zhong remarked on the value of the discussions, stating, “This is not just about networking; it’s about establishing a foundation for meaningful collaboration and impactful outcomes. The synergy between Finnish innovation and China’s expansive market presents significant investment opportunities, especially in the energy transition and sustainable development sectors.”
