Finland's Prime Minister Petteri Orpo is on a four-day official visit to China, leading a delegation of executives from more than 20 Finnish companies seeking new business opportunities.
Christoph Vitzthum, president and CEO of the Finnish food company Fazer Group, is among the delegation. He said the trip to China has provided him a new insight into the development of Chinese consumer market.
"It's remarkable to see how the Chinese consumer has developed and how much we as a company can learn from the Chinese market. Needless to say, the market is vast, but you have to be able to be relevant in a market. And if you see one of the big consumer trends in China, it's the same that we have been seeing in Europe for some years. That's health and well-being - less sugar, less fat, more fiber, more healthy products. As the Chinese economy has developed, as the Chinese middle class has grown significantly, these themes are also now prevalent in the Chinese market," said Vitzthum.
Vitzthum said competition and consumer choice are beneficial for market growth and category expansion allows brands to differentiate themselves and strengthen brand positioning.
"The consumer in general loves choice. I don't see the competition as a problem. I see the category growth, be it in grain-based products or be it in chocolate, is a good thing. If you take for example milk chocolate, the Karl Futzer brand, which we have launched in China. In China, it's the only brand that is made from fresh milk. And when we have studied this with consumers, it resonates very well with the Chinese consumer. By comparing to alternatives, you can really promote your own brand and bring the things that we are standing for," he said.
As part of the agenda of Orpo's visit to Beijing, Chinese and Finnish enterprises signed multiple commercial agreements on Monday at the sixth meeting of the China-Finland Committee for Innovative Business Cooperation.
Business leaders of the two countries engaged in lively discussions on cooperation in many fields including innovation, green development and digitalization.
Fazer CEO sees new opportunities for business cooperation with China
