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World needs to learn from nation's digital ecosystem

By Jesse Ketonen | China Daily Global | Updated: 2024-11-26 09:19

As a Finn, I have been fortunate enough to witness China's dynamic landscape up close. My journey began with a semester at Fudan University in Shanghai as part of a master's program of Aalto University in Finland. That experience left an indelible mark on me.

The vibrant streets of Shanghai, the endlessly fascinating mix of tradition and innovation, and the warmth of the people all inspired me. Living in Shanghai as an international student, traveling around China and experiencing its rich culture and cuisine — thanks to my local friends who introduced me to restaurants I'd never have discovered on my own — have been nothing short of eyeopening.

After my time at Fudan University, I cofounded Nordic Friend, a strategic marketing and communications agency dedicated to bridging the gap between Chinese and international businesses, helping promote Finnish education, tourism, food and other industries in the Chinese market.

Over the past 10 years, we have seen the rising interest of Finnish universities to build partnerships with Chinese institutions and attract more Chinese students. In the tourism sector, more and more Chinese tourists are flying to the Finnish Lapland to appreciate the northern lights and enjoy winter fun at the hometown of Santa Claus.

While we use social media platforms such as WeChat, Weibo and Douyin to help brands connect with their consumers, each day I am astounded by the rapid development of China's digital ecosystem and how seamlessly people's daily life is integrated with mobile experiences. This integration is something I believe the rest of the world can learn from.

Today, I see growing opportunities for collaboration between Chinese and non-Chinese companies. With Chinese brands increasingly entering global markets, there is a need for deeper cultural understanding on both sides. Just as European companies have spent years learning how to reach Chinese consumers and decisionmakers, Chinese brands must now learn to adapt to foreign markets.

In recent years, many Chinese consumer brands have made significant inroads in Europe. From mobile technology to consumer electronics, Chinese products are gaining popularity. To continue this trajectory, Chinese companies should consider building local teams in European markets to implement their strategies with a local touch for better adaptability. Integrating European professionals into these organizations can help Chinese brands better align with local preferences, values and business practices.

At the same time, I would urge non-Chinese companies to look further into China for opportunities. China's economy, still growing rapidly, remains a crucial player on the global stage despite recent economic instability worldwide.

Times of economic uncertainty can be pivotal for companies willing to invest strategically. Historically, businesses that continued to invest during recessions have grown faster once the economy rebounded. Now, perhaps more than ever, companies need to actively "earn" their place in the market.

In addition to business growth, we should aspire to use cross-border opportunities to address shared challenges. The world is facing complex issues — climate change, biodiversity loss, economic inequality and challenges in international trade — that demand collaborative solutions. International trade and shared commercial success can foster meaningful relationships between nations and pave the way for a sustainable economic future. Businesses have always played a crucial role in building global communities and complementing diplomatic efforts.

Finnish President Alexander Stubb made a state visit to China at the end of October, engaging in fruitful dialogues with Chinese leaders and boosting further exchanges between the two nations in areas such as academics, trade and tourism, among others.

Through joint efforts, Finland and China can leverage each other's strengths in technology, culture and economic growth, creating a world where collaboration drives solutions for pressing global issues.

In this interconnected world, China plays a pivotal role, and now, perhaps more than ever, we need strong alliances based on mutual benefit. Win-win partnerships can bring China, Europe, the United States and other countries and regions together to address shared challenges. By encouraging such collaboration, we can not only strengthen economic ties but also build a foundation for understanding and peace.

As someone who has experienced firsthand the potential of China's economy and the openness of its people, I am hopeful that more international companies will recognize the immense opportunities within China. Likewise, I hope that Chinese businesses will continue to seek out partnerships across borders. By embracing a global perspective, we can build a future where economic success goes hand in hand with social and environmental progress. And perhaps, in the process, we can all work together toward a more united and hopeful world with more understanding.

The author is cofounder and chairman of Nordic Friend, a marketing, communications and advertising agency. The views do not necessarily reflect those of China Daily.

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