Category Archives: Business

business news from China, Sweden and the world.

Nordea lanserar gröna företagslån(Nordea launch green company’s loan)

STOCKHOLM, July 2(Greenpost) —Nordea lanserar nu gröna företagslån – lån som främjar hållbara investeringar. På så vis kan våra små och medelstora företagskunder ta sitt hållbarhetsarbete till nästa nivå.

 

Magnus Montan, Nordenchef Business Banking på Nordea.

Nordea lanserar nu gröna företagslån – lån som främjar hållbara investeringar. På så vis kan våra små och medelstora företagskunder ta sitt hållbarhetsarbete till nästa nivå.

Fenomenet gröna obligationer har funnits en längre tid, främst för stora fastighetsföretag. Nu kan Nordea som första aktör erbjuda gröna lån till små och medelstora företag inom flera branscher.

– Vi har över en halv miljon små och medelstora företag som kunder, och för samtal med dem regelbundet. Hållbarhet lyfts ofta fram, vilket visar att efterfrågan på en produkt som exempelvis gröna lån är stor och kommer att växa, säger Magnus Montan, Nordenchef Business Banking på Nordea.

Den första kunden att använda vår produkt gröna lån är K2A, som arbetar med miljövänlig produktion av bostäder.

– För oss är det viktigt att vara hållbara i så stor del av vår verksamhet som möjligt. Att vi nu tecknar gröna lån gör att vi kan bli gröna även i vår finansiering, vilket är en viktig del vid bostadsutveckling. Det är spännande att se att begreppet hållbarhet hittar in i nya aspekter av företagande såsom finansiering, säger Johan Knaust, vd K2A.

Nordeas gröna obligation som emitterades i juni 2017 blev startskottet, och genom nära dialoger med kunder har Nordea nu utvecklat en modell för gröna företagslån.

– Hela kedjan är grön, det vill säga vi använder vår gröna marknadsupplåning. Kunden förbinder sig också att använda lånet till en hållbar investering, och måste kunna redovisa den positiva påverkan som investeringen har, till exempel på el- och vattenkonsumtion, säger Magnus Montan.

Med andra ord blir både kundernas investering och finansieringen för investeringen grön. Exempel på investeringar är energieffektiva fastigheter, vindkraft, vattenrening, elbilar och solenergi.

För de gröna lånen får kunderna också något mer fördelaktiga kommersiella villkor jämfört med de icke gröna lånen.

De gröna lånen kan få betydande positiv effekt på miljön. Vad gäller exempelvis gröna lån till fastighetskunder kräver Nordea minst 25 procent bättre energieffektivitet än svenska byggnadsregler (BBR) för nya byggnader. Nordea ger också ut gröna lån till investeringar i förnybar energi som har ännu större positiv effekt på minskade utsläpp.

– Vi tror att gröna lån är här för att stanna och kommer att etableras som standard på marknaden. Vi tror också att vår egen kreditportfölj kommer att växa sig starkare eftersom de mest hållbara företagen är framtidens vinnare – det ser vi redan nu i studier, säger Magnus Montan.

Först görs en intern utvärdering för att se om lånet kan klassas som grönt. Sedan följer en extern utvärdering där väl etablerade miljöcertifieringar används, godkända av Oekom Research som är oberoende granskare av Nordeas gröna låneramverk.

Source: Nordea.se

   SCEA and China-Sweden Startup Forum encourage young entrepreneurs to come to China

By Xuefei Chen Axelsson

STOCKHOLM, May 29 (Greenpost) – Sweden-China Entrepreneur Association sponsored China-Sweden Startup Forum has encouraged Swedish young people to come to China to establish their businesses.

Being held in Stockholm’s KTH on May 25, over a hundred Swedish students and overseas Chinese students attended a forum titled Dragon Slide meaning that people are afraid of going to Chinese market, but the Chinese Dragon will actually bring a lot of opportunities for entrepreneurs.

Zhang Qiaozhen, President of Sweden-China Entrepreneur Association opened the forum and explained the mission of her association.

Zhang Qiaozhen said her association has held various summit between China and Sweden. For example, they held Nordic exhibition gallery during China International Cultural Fairs in Shenzhen in early May. In November they will participate in the China International Technology Achievement Fair (High-tech Fair) and host Nordic exhibition gallery to build up bridges in science and culture between Nordic countries and China. She called on young entrepreneurs to participate in her Nordic exhibition gallery in November this year.

She said under the leadership of President Xi Jinping, China has lowered its development speed and sought for high quality and efficiency. China is stepping on the green and low carbon and sustainable development road. This will not only be conducive to Chinese people but also contribute to the global development. Sweden has a lot of good experience worthwhile for China to learn.

Zhang Qiaozhen’s speech won a lot of response from the young entrepreneurs.

Juan Mauritz, founder of Swedish Startup Forum and SISP Chinese regional director Ulf Borbos also introduced their responsibilities at the opening of the forum.

Daigang, Counselor of Science and Technology of the Chinese Embassy in Sweden also attended the forum. He discussed the startups with Zhang Qiaozhen during the forum.

During the forum, Swedish entrepreneurs and professionals explained why people should go to China to develop with their own experiences and the difficulties and lessons.

The forum also arranged a program called Explore China meaning that they will arrange students to visit China and 777 students registered. Finally 16 were selected to have the chance to go to China to visit enterprises.

Many people are interested in exploring China, but they have language and cultural difficulties and that is what Sweden-China Entrepreneur Association likes to serve for them.

The forum attracted one than a hundred students and young entrepreneurs and they also commended the forum is very interesting and informative.

Text/Xuefei Chen Axelsson,

Photo/ provided by Sweden-China Entrepreneur Association.

Editor/ Xuefei Chen Axelsson

 

contact: chenxuefei@greenpost.se

Minister Antti Häkkänen: International community must work harder to stop financial flows to terrorism

By Xuefei Chen Axelsson
Stockholm, April 27(Greenpost)–In order to fight terrorism we need to intervene in its financing, and international cooperation is required to achieve this, Minister of Justice Antti Häkkänen said when speaking at a high-level conference in Paris today.
The conference dealt with measures to be taken by the international community to combat the financing of terrorism.

Around 80 states from all over the world and several international organisations attended the conference, which was convened by French President Emmanuel Macron.

“Criminalisation of financing of terrorism, firmly anchored in human rights, is an important and necessary means to prevent terrorist offences. However, this alone is not enough. The 80 countries from all over the world and the international organisations represented in this conference can together change the world by blocking the flow of money to terrorism. One of the most important ways to fight terrorism is to find the sources and channels of funding and then close them down as effectively as possible,” Häkkänen said.

Terrorism cannot be stopped without intensifying the international cooperation. According to Häkkänen, more effective international exchange of information is required to be able to trace financial flows all the way to their final destination.

“For instance, information requests on suspected terrorist financing should be processed by all states much faster than at the moment. In addition, we need to keep up with the constantly changing operating environment. Various unofficial, often anonymous and digital money transfer services make detecting and preventing terrorist financing very challenging,” Häkkänen said.

“Furthermore, we need more efficient and more extensive legal cooperation in criminal matters. Competent authorities in all states should respond to international requests for legal assistance without delay and cooperate as widely as possible. It is crucial that all countries present here today are committed to stepping up our collective efforts to fight the financing of terrorism.”

“An enormous amount of work is being carried out within the European Union to create a safe living environment for ordinary citizens. I also consider it important that the EU continues to be an active global actor that strives to deepen the international cooperation to fight terrorism,” Häkkänen said.

SCEA signs MOU with Foshan Business Bureau

By Xuefei Chen Axelsson

STOCKHOLM, April. 23(Greenpost)—Swedish-Chinese Entrepreneur Association’s Vice President and Executive Manager Zhang Luping signed a Memorandum of Understanding  on cooperation with Su Yan, director of Foshan Business Bureau in Stockholm on April 20.

The signing came upon Foshan Mayor Zhu Wei’s visit to Sweden with a business and official delegation. SCEA Vice President Zhang Luping gave a brief introduction of the hosts.

David Lindblom from SCEA gave a brief introduction about Sweden saying that Sweden is an innovative country which has invented many products ranging from match to safety belt, from heart rescue machine to Skyppe and GPS locating system.

Joana Wang gave a brief introduction about SCEA aiming at serving as a bridge between Sweden and China.

Ulf Borbos gave an introduction about science park with one of the project is to find Chinese cooperation partners. Ms Wang serves as interpreter.

Mayor Zhu said he is very much interested in medical care cooperation with Karolinska Institute because in his city, they have achieved full scale urbanization meaning all the people enjoy the same urban medical care system. So they have enough patients for medical research while the medical  research environment is very good.

Retired Karolinska Institute Associate Professor in tumor Hu Lifu who is still very active in promoting Sino-Swedish medical cooperation introduced briefly about Karolinska Institutet.

The meeting also involved in two young startup forum founder who aims at helping young people to exchange between China and Sweden. They plan to take Swedish young people to China to visit Shenzhen, Guangzhou or Foshan.

Mayor Zhu welcome all to visit Foshan, the third largest city in Guangdong province, the vanguard of China’s reform and opening up begun in 1978.

Finally Zhang Luping and Su Yan signed the MOU on bilateral cooperation in exchanging business and trade information and providing assistance for each other when needed.

Zhang Yi, vice president of Swedish Chinese Federation was also present at the meeting.

中文链接:

今日头条:瑞中企业家协会与佛山市商务局签署合作备忘录

Historiskt trendbrott: Kina större exportmarknad än USA för företag i Stockholm

För första gången är exporten från Stockholms län till Kina större än till USA.

Det visar en ny analys från Stockholms Handelskammare.

– Kinas starka tillväxt har bidragit till att man nu gått om USA som Stockholms viktigaste exportmarknad. Paradoxalt nog kan Donald Trumps tullar göra så att USA försvagas ytterligare då dessa kommer göra Kina än mer intressant. Det är bra när Sverige och Stockholm handlar med Kina men vi skulle tjäna på att fördjupa den transatlantiska relationen. Därför bör Trump lägga ned sina tullar och Sverige borde driva på för att EU fortsätter samtalen om ett frihandelsavtal med USA, Andreas Hatzigeorgiou, chefsekonom på Stockholms Handelskammare.

Analysen, som bygger på statistik från SCB, visar att företag från Stockholms län i allt högre grad exporterar till Kina. Detta samtidigt som exporten till USA minskat över tid.

År 2007 värderades Stockholms varuexport till Kina endast till omkring fyra miljarder kronor samtidigt som varuexporten till USA hade ett värde på 26 miljarder.

Tio år senare uppgår varuexporten från Stockholm till Kina till omkring 16 miljarder, vilket är cirka en miljard kronor mer än varuexporten till USA.

– För Sverige är Kina fortfarande en mindre marknad än USA, men förändringen vi ser i Stockholm under de senaste åren är exceptionell. Det kan mycket väl vara en fingervisning om framtiden, för Stockholm går inte sällan i första ledet för förändringar. Om Donald Trumps tullar leder till en eskalerande handelskonflikt skulle jag inte bli chockad om Kina går om USA som Sveriges viktigaste exportmarknad utanför Europa, säger Andreas Hatzigeorgiou.

Handelskrig skulle skada världsekonomin. Samtidigt finns vissa möjligheter för svenska företag.

– Donald Trump har undantagit svenska och europeiska företag från sina tullar. Det innebär att vår konkurrenssituation i USA faktiskt på marginalen kan förbättras. Dessutom innebär Kinas motåtgärder mot USA drabbar amerikanska företag, vilket i sin tur kan gynna våra svenska företags kamp om kontrakt i Kina. Världen behöver med frihandel, men om nu världens stormakter vill införa tullar måste Sverige se till att utnyttja situationen till vår fördel, säger Andreas Hatzigeorgiou.

Om Stockholms Handelskammare
Stockholms Handelskammare är den ledande organisationen för företag och företagare i huvudstadsregionen som omfattar Stockholms län och Uppsala län. Vår verksamhet spänner från det lokala till det internationella planet och vi är engagerade i allt som kan förbättra företagens villkor; från bostadsmarknaden i regionen till internationell frihandel. Vi är en populär mötesplats för våra 2 000 medlemsföretag som har en halv miljon anställda. Handelskammaren är också en betrodd tredjepart med ett av världens ledande skiljedomsinstitut. Läs mer om Stockholms Handelskammare

Analysis: Trump and Chinese farmers

By Xuefei Chen Axelsson

US President Donald Trump recently announced that he has endorsed the order to increase tariff for imported steel and aluminium. As a result, a lot of Chinese products that are exported to the US will face a higher tariff.

Chinese Ministry of Commerce immediately responded that China will increase its tariff against the America grain exported China.

Why was China responding so quickly? Because China has imported American grain or corn at a so low price that it affected the Chinese farmers’ interest. Why?

Because Chinese farmers earned more money before China imported American grain.  My brother Shemin whose name means a member of the socialist commune is a farmer.  He was both happy and sad when I talked with him over the phone.  He was happy to tell me that he harvested 40 tons of corn marking the highest production over the years.  But he was not very happy when talking about how much he earned.

He said that he earned just about 60 thousand yuan or 10 thousand dollars for the whole year. Compared with a couple of years ago,  when the price of the corn was at one yuan or 1.2 yuan, he could have earned 80 thousand yuan with the current harvest amount.  But now the price was only 70 percent of the previous one.  although the productivity increased, the profit decreased.

Why? Because Chinese government said the market is deciding the price and China is open to allow import of grain from America.  Those pig raising entrepreneurs or farmers spend large amount of dollars imported grains from America with much lower prices.  So the American cheap grain actually make the Chinese small farmers lower their income.

This will be very bad for Chinese agriculture because then the Chinese farmers or peasants will leave their land and go to the city to find jobs to earn a salary instead of labouring in the farms with so low income.  In the long run, the peasants are forced to be out of their land and larger contractors will come to the countryside to contract the land, then the monopoly of the larger business people will have right to decide the price and the price will be getting higher, either due to the cost or due to the monopoly. But then the ones who complain will not only be farmers, but the urban citizens.

So far, Chinese government has get rid of agricultural tax and also give a little subsidies.  But that subsidies are so little compared with the French farmers’.  That is only 200 yuan per mu or 30 dollars per acre.  That is too little.

I hope the Chinese government should consider this issue and really care about farmers’ interest.

芬兰外长表示美国决定限制钢铁和铝的进口非常不幸

北欧绿色邮报网报道(编译陈雪霏)– 芬兰外交部长Virolainen3月9日表示,美国决定限制钢铁和铝的进口很不幸。

Minister Virolainen: The United States’ decision to restrict imports of steel and aluminium is very unfortunate

美国总统特朗普签署命令限制从加拿大和墨西哥进口的钢和铝。对来自欧盟国家的产品加收钢的关税为25%, 铝的关税为10%。 2018年3月23日正式生效。个别国家可能要协商减免关税。

外贸发展部长Virolainen 认为特朗普的政策很不幸,她强调在欧盟和美国之间应该保持磋商减免可能的关税。“欧盟正在认真研究特朗普的决定,欧盟团结一致很重要。” 欧盟高专属署长Malmström说。欧盟和美国是最大的贸易投资伙伴,在安全问题上也是同盟。我们相信从欧盟进口钢铁和铝不会威胁美国安全。

她说,加收关税将大幅度减少从欧洲到美国的钢铝进口。美国是芬兰最重要的贸易投资伙伴之一。芬兰给企业的资助津贴为美国提供了34000多分工作,如果非直接因素也考虑进去的话,是为7万人提供了就业。

芬兰担心欧洲和美国之间工作和竞争力的争夺可能产生后果。2016年芬兰和美国的贸易额达116亿美元。芬兰主要出口森林产品,测量一起,电机和设备,矿油等到美国。2017年芬兰对美国的钢出口占总出口的2.4%,铝产品占0.5%

The President of the United States, Donald Trump, signed orders to restrict steel and aluminium imports with the exception of imports from Canada and Mexico. Tariffs of 25% are to be placed on steel and 10% on aluminium imports from the EU to the US. The tariffs are to take effect on 23 March 2018. Countries may negotiate exemptions to the tariffs.

Minister for Foreign Trade and Development Anne-Mari Virolainen considers President Donald Trump‘s announcement on import tariffs very unfortunate and emphasises that it is important to maintain continuous consultations on possible exemptions between the European Union and the United States.

“The EU is now carefully reviewing the situation in light of the content of President Trump’s decision, and I will be in close contact with Commissioner Cecilia Malmström. It is now important that the EU stands united,” Virolainen notes.

The European Union is the biggest trading and investment partner of the United States and a close ally in security questions.

“We believe that imported steel and aluminium from the EU does not threaten US national security. Moreover, these actions will not resolve the excess capacity problem, which must be addressed in international forums despite what the US is doing”, Minister Virolainen emphasises.

Imposing tariffs would markedly reduce steel and aluminium imports from the EU to the USA. For Finland, the United States is among the most important trading and investment partners after the EU countries. Finnish subsidiaries in numerous business sectors provide employment for approximately 34,000 persons in the United States and, if indirect effects are taken into account, work is provided to as many 70,000 persons.

她说,加收关税将大幅度减少从欧洲到美国的钢铝进口。美国是芬兰最重要的贸易投资伙伴之一。芬兰给企业的资助津贴为美国提供了34000多分工作,如果非直接因素也考虑进去的话,是为7万人提供了就业。

芬兰担心欧洲和美国之间工作和竞争力的争夺可能产生后果。2016年芬兰和美国的贸易额达116亿美元。芬兰主要出口森林产品,测量一起,电机和设备,矿油等到美国。2017年芬兰对美国的钢出口占总出口的2.4%,铝产品占0.5%

“Finland is worried about the possible repercussions on the jobs and competitive capacity of companies both in Europe and in the United States,” Minister Virolainen says.

The volume of trade between Finland and the United States was USD 11.6 billion in 2016. Finland exports mainly forestry products, measuring instruments, electrical machines and devices, and mineral oils to the United States. In 2017, of Finland’s total exports, the United States’ share was 2.4% for steel and 0.5% for aluminium goods.

Swedish PM Lofven was interviewed by CGTN Tian Wei in China

STOCKHOLM, March. 21(Greenpost) – Swedish Prime Minister Stefan Lofven was interviewed by CGTN’s Tian Wei  to find out about his personal story, and how Sweden and China can better cooperate during his visit to China participating the World Economic Forum.

According to him, Sweden values the work and cooperation on climate change and clean energy with China. As the first western country to establish diplomatic relations with the PRC, Sweden is also eagerly looking at other potential points of cooperation on security, trade, and other global issues. Prior to becoming prime minister, Lofven worked as a welder before becoming an active trade unionist. He rose to become chairman of the trade union IF Metall from 2006, until being elected leader of the Social Democrats in 2012. The hard days of being a welder gave him a deeper appreciation for the conditions of grassroots people, and, in his own words, made him more pragmatic and down to earth.

2018 Win in Suzhou Venture Contest for International Entrepreneurs Launched in Sweden

By Xuefei Chen Axelsson

STOCKHOLM, Feb. 10(Greenpost)—2018 Win in Suzhou Venture Contest for International Entrepreneurs(European Life Science) was launched on Thursday(Feb.8) in Stockholm, capital of Sweden.

Dai Gang, Counselor of Science and Technology from the Chinese Embassy in Sweden attended the launching ceremony. He encouraged students, scholars both Chinese and Swedish to actively participate in the contest because Suzhou city is a good place to live and work. The living and working environment there is very good and the local government gave a lot of preferential policies in attracting talented people.

Lin Yingbo, Executive Director of Nordic Chinese Innovation and Startup Association said 2018 Win in Suzhou Venture Contest for International Entrepreneurs  will be organized by Suzhou City. This is the first time when a field specific event is included in the contest, which is one of the ten Venture Week  in Suzhou.

The contest including the Venture Cup and the Innovation Track, will be held on May 26 this year at Karolinska Institute in Stockholm, Sweden.

The contest focusing one the field of life-science including pharmaceuticals and biotechnology, diagnostics, medical devices, health care IT, precision medicine, health care services, ageing as well as all other aspects related to healthcare.

This year’s prize is much bigger than the previous one. The first prize will be 50 thousand yuan or about 6000 Euro plus 200 thousand yuan or about 24 thousand Euro Angel Investment. Moreover, all the participants can get the chance to participate in Venture Week in Suzhou(July 10 to 12th). The organizers also encourage entrepreneurs in other fields than Life Science to join the competition for the 2018 Win in Suzhou Venture Contest for International Entrepreneurs (European region) held in May 27th 2018 in Frankfurt, Germany.

 

Luo Hui, Hu Zhiyu, Baojin, Zhang Shouting, Daigang, Lin Yingbo, Yinchang and other three staff in the association. 

All innovative entrepreneurs and projects are welcome to the contest. Additionally, we provide a parallel Innovation Track. This track is open to projects with clear commercial potential but still require further development or to companies looking to collaborate with domestic companies in the Chinese market. There will also be technical upgrade intentions raised by life-science companies in Suzhou published on the official website (www.LSciVentureCup.com) and call for technical solution proposals.

The contest is open for registration from February 1st to April 15th, 2018. Application forms are available on the official website (www.LSciVentureCup.com), you can either register online or email the forms to contact@LSciVentureCup.com or ncaie@hotmail.com . The ones submitting earlier can be reviewed earlier.

Contact: 0046700226288

For details, you can look at the following carefully.

  1. PROGRAM

 

  • Evaluation Period (Feb 1st to Apr 15th, 2018)

Applications will be reviewed continuously by the organizing committee. Projects selected will be offered the opportunity for mentorship and one-on-one counseling for the competition event.

  • Paired Challenge (Mar 1st to Apr 15th, 2018)

Projects selected and their mentors will be invited to participate in online company-company presentation challenge event.  Companies will be paired and take turns challenging each other’s business plans at this event. One company challenges the other, then the other way around. Company performance at this challenge event will form the basis for further selection.

  • Presentation and Award (May 26th, 2018)

The top 10 projects will be invited to participate the presentation and award event in Stockholm. A panel of external judges will evaluate plans and presentations with the prices awarded at the event.

 

  • Innovation Track

In the innovation track, participants are invited to submit project proposals no later than Apr 30th, 2018. Brief summaries of all project proposals will be distributed to relevant life science enterprises and research organizations in Suzhou by Suzhou Human Resources and Social Security Bureau (SHRSSB). ​​ There will also be technical upgrade intentions raised by life-science companies in Suzhou published on the official website and call for technical solution proposals. The Organizing Committee will assist with negotiations and provide the platform for both parties to establish cooperation.

 

  1. Awards and Policies

 

  • For all registered participants for both venture competition and innovation fair track.

All applicants will be registered by the Suzhou City in their Human Resources Bank.  Qualified projects will be invited to attend the Venture Week in Suzhou July 2018, when the participates will have an opportunity to visit different business incubators in Suzhou and be introduced to local venture capital investors. The government of Suzhou will provide accommodation free-of-charge together with a subsidy of USD 500 dollar towards travel expenses.

  • Winners of the Venture Cup

The European Life-Science Venture Cup competition will award 10 prizes together with certificates of participation to all presenting companies. One representative for each project will be invited to attend the final competition in Stockholm, Sweden. The organizers will provide a travel subsidy of EUR 200 for participants from the Nordic countries, and no more than EUR 300 euros for participants from other countries, food and accommodation will also be covered by the organizers.

  • First, second and the third prize winners

The European Life-Science Venture Cup Competition prizes are:

First prize: 50 000 CNY (awarded to one project)

Second prize: 30 000 CNY (awarded to two projects)

Third prize: 10 000 CNY (awarded to three projects)
First, second and third prize winners have an opportunity to apply for up to 10 million CNY of government-controlled venture capital investment; up to 5 million CNY of secured financing loans; and an allowance of 300,000 CNY for R&D. Winners who choose to reside in Suzhou will be granted residence permit. They and their family members will also receive the same privileges as citizens for medical care, housing and school enrollment for their children.
Winners of the first, second and the third prizes are qualified to attend the “Win in Suzhou” Venture Contest for International Elites Final (July 2018 in Suzhou during “Venture Week in Suzhou”) competition.

More information is available on the official website: www.LSciVentureCup.com

Again,

To register, click  www.LSciVenetureCup.com,  Or you can download the form, fill in and send to contact@LSciVentureCup.com  , or  ncaie@hotmail.com.

Telephone: 0046700226288.

 

Text/Photo by Xuefei Chen Axelsson

2018“赢在苏州”国际创客大赛(全欧生物医药专场)启动仪式在斯京举行

H & M Hennes & Mauritz AB Full-year report

Full-year (1 December 2016 – 30 November 2017)

  • The H&M group continued to grow globally in 2017. Sales including VAT increased by 4 percent to SEK 231,771 m (222,865) in the financial year. Sales increased by 3 percent in local currencies. Sales excluding VAT amounted to SEK 200,004 m (192,267).
  • Gross profit increased to SEK 108,090 m (106,177). This corresponds to a gross margin of 54.0 percent (55.2).
  • Profit after financial items amounted to SEK 20,809 m (24,039). The group’s profit after tax amounted to SEK 16,184 m (18,636), corresponding to SEK 9.78 (11.26) per share.
  • A total of 479 (497) stores were opened and 91 (70) stores were closed, resulting in a total net addition of 388 (427) new stores.
  • During the year eight new H&M online markets and five new H&M store markets were opened.
    At the end of the financial year the H&M group had 69 sales markets of which 43 with online.

Fourth quarter (1 September 2017 – 30 November 2017) 

  • The H&M group’s sales including VAT amounted to SEK 58,481 m (61,098), a decrease of 4 percent. In local currencies, the decrease was 2 percent. Sales excluding VAT amounted to SEK 50,407 m (52,720).
  • Gross profit amounted to SEK 27,929 m (30,027), corresponding to a gross margin of 55.4 percent (57.0).
  • Profit after financial items amounted to SEK 4,873 m (7,409). The group’s profit after tax amounted to SEK 3,993 m (5,914), corresponding to SEK 2.41 (3.57) per share. The weak sales development within the H&M brand’s physical stores lead to increased markdowns and handling costs which had a negative impact on the result in the quarter.
  • The board of directors proposes an unchanged dividend of SEK 9.75 (9.75) per share for the 2016/2017 financial year, to be paid out on two occasions in 2018. In view of continued high investments in areas such as digitalisation, the board of directors is to investigate the possibility of offering all shareholders an opportunity to reinvest the dividend received in newly-issued H&M shares.
  • Sales including VAT in the period 1 December 2017 to 31 January 2018 are expected to increase by 1 percent in local currencies compared to the corresponding period the previous year.
  • A continued roll-out of H&M’s online store is planned to another four markets during the financial year 2017/2018: India, and via franchise to Saudi Arabia and the United Arab Emirates. Kuwait was opened in December 2017 via franchise.
  • In 2018 the H&M group plans to open approximately 390 new stores and approximately 170 store closures are planned, resulting in a net addition of approximately 220 stores. New planned H&M store markets are Uruguay and Ukraine.
  • Afound – new brand in 2018. Afound will be an off-price marketplace offering products from well-known and popular fashion and lifestyle brands, both external brands and those from the H&M group. It will be launched in Sweden, with a first store in Stockholm opening in parallel with a digital marketplace in Sweden.
  • H&M and H&M Home will open on Tmall, the world’s largest e-commerce platform, in March 2018

Comments by Karl-Johan Persson, CEO

Accelerating our transformation in a rapidly changing industry
The fashion industry is changing fast. At the heart of the transformation is digitalization and it is driving the need to transform and re-think faster and faster. This is presenting many challenges but we believe we are well-placed to adjust to the new dynamics and take advantage of the opportunities in front of us.

Part of this opportunity is to do with the size of the market. While the H&M group is a big player, our market share is still relatively small. It is also a growing market. So, while the H&M group has come a long way, we are most excited by the distance we still have to go and our fitness for the opportunities ahead.

Our performance during 2017 was mixed, with progress in some areas but also difficulties in others. We delivered growth of 3 percent in 2017 which is clearly below our expectations. In the fourth quarter our sales overall decreased by 2 percent in local currencies. Our online sales and our newer brands performed well but the weakness was in H&M’s physical stores where the changes in customer behaviour are being felt most strongly and footfall has reduced with more sales online. In addition, some imbalances in certain aspects of the H&M brand’s assortment and composition also contributed to this weaker result.

But our performance does need to be seen in the wider context of the transformation that the industry is going through. Underneath the disappointing recent performance, we see reasons for optimism and good learnings but we need to accelerate the transformation even more.

We have three main action areas:

Be restless around the core

  • We must always have the best across product assortment and mix, look, value for money and sustainability. The best customer offering always wins.
  • Our physical stores must offer a more inspiring and convenient customer experience, and be more customized to local needs.
  • The digital store is a process that should never settle. The offering needs to be constantly improved and broadened to ensure it maximizes engagement and sales.
  • We are integrating our physical and digital stores to offer our customers a great shopping experience with services ranging from Click and Collect to Scan and Buy and online returns in store.

Invest in the enablers – new technology and ways of working

  • The efficiency of our supply chain has always been a strength but it must mirror our customers’ fast-changing needs. We are investing further to get even faster, more flexible and more responsive.
  • We will invest even more in analytics and intelligence. We see huge potential across the board from assortment planning to supply chain and sales.
  • We will continue to invest in our tech foundation. This includes: building scalable, robust platforms; faster development of consumer-facing apps; and broadening our use of technologies like Cloud, RFID and 3D.

Drive growth – both traditional and new

  • The H&M group is developing new brands for new needs and new segments – we now have eight brands that are all scalable – and we will soon launch our ninth brand, Afound.
  • Our expansion across digital will accelerate. We will be broadening our assortments, rolling out digital to new markets and linking to new platforms, like Tmall for mainland China.
  • We will continue to open new stores – there is still significant growth capacity in physical stores in many regions and countries.
  • We will constantly optimize and refine our physical store portfolio. There is still potential for strong growth in some regions whereas in others we can get a better balance by reducing store space.
  • We constantly work on new ideas and innovations that will drive us forward – and there are many in our pipeline for 2018 and the years to come.

All in all, we feel 2017 was a year where we made more steps forward and did more groundwork for the future, but we have also made some mistakes that have slowed us down. The industry changes are challenging everyone and this will continue in 2018. The new fashion landscape requires skills and resources to adapt and seize the new opportunities. In particular the ability to take a long-term view and to navigate through some inevitable turbulence. By long-term investments, we have built a solid platform for many years of continued growth.

On our Capital Markets Day February 14, 2018, we will tell you more about our transformation and what we see going forward for the H&M group and our continued growth.

Contact
Nils Vinge, head of IR +46 8 796 52 50
Karl-Johan Persson, CEO +46 8 796 55 00 (switchboard)
Jyrki Tervonen, CFO +46 8 796 55 00 (switchboard)

Invitation to press and telephone conference in conjunction with the full-year report is available on about.hm.com.

H & M Hennes & Mauritz AB (publ)
SE-106 38 Stockholm
Phone: +46 8 796 55 00, Fax: +46 8 24 80 78, E-mail: info@hm.com
Registered office: Stockholm, Reg. No. 556042-7220

Information in this full-year report is that which H & M Hennes & Mauritz AB (publ) is required to disclose under EU Market Abuse Regulation (596/2014/EU) and Sweden’s Securities Market Act. The information was submitted for publication by the abovementioned persons at 8.00 (CET) on 31 January 2018. This full-year report and other information about H&M, is available at about.hm.com.

H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M’s business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands COS, Monki, Weekday, Cheap Monday, & Other Stories and H&M Home as well as ARKET. The H&M group has 44 online markets and more than 4,700 stores in 69 markets including franchise markets. In 2017, sales including VAT were SEK 232 billion. The number of employees amounts to more than 171,000. For further information, visit about.hm.com.

China International Import Expo CIIE to be held in Shanghai on Nov. 5-10

By Xuefei Chen Axelsson

STOCKHOLM, Jan. 30 (Greenpost) — China International Import Expo is to be held in Shanghai during November 5-10, 2018, said Wang Dongtang, Deputy Director General of Department of Foreign Trade of Ministry of Commerce.

He made the remark during a presentation in Stockholm about the November expo.

Wang said it was Chinese President Xi Jinping proposed the expo during last year’s belt and road summit in Beijing. The purpose is to provide chances for foreign exporters to sell in China.

China will invite all the buyers home and abroad to attend the expo and buy the products and services in order to balance the Sino-foreign trade.

Wang said the expo will provide a good platform for the important exporters and importers to make a deal efficiently to balance the world trade.

Han Xiaodong, Chinese counselor of Commerce at the Chinese Embassy in Sweden said it was for the first time that Swedish export to China to reach surplus in 2017.  This means Swedish products are welcomed in China.

Elizabeth Soderstrom, Secretary General of Sweden-China Trade Council also attended the presentation and express good luck to the expo.

Over a hundred entrepreneurs, CEOs and government attended the route presentation of China International Import Expo.

Photo&Text  Xuefei Chen Axelsson

Air China to launch direct Beijing–Copenhagen route

STOCKHOLM, Jan.23(Greenpost) — Air China Limited (Air China) will begin non-stop flights between Beijing and Copenhagen from May 30, 2018. Once the new route launches, passengers will be able to arrive comfortably in Andersen’s dreamlike fairy tale Kingdom in 10 hours.

Copenhagen is the capital of Denmark, and is filled with fairy-tale innocence and lively, idyllic charm. Following the official start of the “China-Denmark Year of Tourism”, Chinese tourists are becoming increasingly excited about travelling to Denmark, with 260 thousand tourists visiting the country in 2017. Following its launch, the Beijing-Copenhagen direct route will become a strong supplement to the Beijing-Stockholm route, further improving Air China’s network of routes to Northern Europe. Once the route launches, domestic passengers will be able to enjoy travel in Northern Europe by flying to two destinations, Copenhagen and Stockholm. Passengers from Denmark and Sweden will also be able to enjoy 144-hour via free transit in Beijing when travelling to a third country.

For many years, Air China has been establishing a global route network with Beijing as its hub. The network of routes spreads throughout the world, covering six continents. The addition of this non-stop route between Beijing and Copenhagen is the latest development in Air China’s strategy to transform Beijing into an airport hub with a truly global reach, and improve network coverage in the Europe. Air China offers the largest selection of routes between China and Europe. The new Beijing–Copenhagen service will bring the total number of routes to 27, with an offering of 300 flights per week to 20 major European destinations, including London, Paris, Frankfurt, Munich, Vienna, Rome, Moscow, Barcelona, Madrid, Zurich and Stockholm, all serviced by wide-body aircraft.

Flight information:

The Beijing -Copenhagen route number is CA877/8 and has four flights per week, scheduled for Mondays, Wednesdays, Fridays and Sundays. The outbound flight departs Beijing at 02:55 and arrives in Copenhagen at 06:45; The inbound flight departs Copenhagen at 13:15 and arrives in Beijing at 04:10 (all times are local). All flights use the Airbus 330-200. Business class offers 180 degree fully flat seats, with personal entertainment systems throughout the cabin, so you can either stretch out comfortably or enjoy the entertainment, giving each passenger an even better personal flying space.

The specific launch time for the route will be determined by when tickets go on sale.

今日头条:太棒了!国航将开通北京—哥本哈根航线

China welcomes Sweden to cooperate in ice sports:Chinese Ambassador Gui

By Xuefei Chen Axelsson

STOCKHOLM, Jan. 14(Greenpost)–Chinese Ambassador to Sweden Gui Congyou has said China warmly welcome Sweden to cooperate and exchange with China in ice and snow sports.

He made this remark at Sweden-China Cultural Economic Sports Summit Forum held on Saturday in Stockholm.  The forum was sponsored by Sweden-China Entrepreneurs Association and supported by the visiting China International Communication Center and Beijing Kunlun Red Star Ice Hockey Club delegation and the Chinese Embassy to Sweden.

“I am very grateful for the visit with my invitation within a short time because it shows China’s great enthusiasm in ice hockey and paying great attention to bilateral exchange in ice sports with Sweden. It is well-known that Sweden is a strong country in ice hockey and other ice sports. I sincerely hope Swedish friends to seize this precious chance to actively conduct ice and snow sports exchange with China, jointly push Sino-Swedish relations in ice and snow sports to further develop and make great contribution to international Olympic Sports and world’s sports cause.” said Gui.

Zhang Qiaozhen, President of Sweden-China Entrepreneurs Association said her association likes to make their contribution to promote Sino-Swedish Ice sports cooperation.

“As Sweden-China Entrepreneurs Association, we’re willing to serve as a good bridge between Sweden and China in Sports and Cultural exchanges. We’re going to have detail discussions in this field.”

K-G Stoppel, Vice CEO of Swedish Djurgardens IF Hockey Club said that as a representative from the Ice Hockey circle, he thinks it is very important to promote and spread ice hockey.

“I think there is no better cooperation than with China. I fully agree that Beijing’s 2022 Winter Olypics will be a great chance for Chinese to increase their interest in ice sports. Considering Swedish Ice Hockey’ long history and our expertise in ice hockey and other ice sport training, I think we can cooperate with Chinese side in providing training for Chinese players, I look forward to further cooperation.  ”

But he warned that ice hockey is a sport that needs a lot of time, energy and sweat. It takes a long time to make breakthrough.

Long Yuxiang, CEO of China International Cultural Communicaiton Center expressed his gratitude to the Ambassador’s invitation and the hospitality of Zhang Qiaozhen, President of Sweden-China Entrepreneurs Association and the Swedish friends. He said his center was founded in 1984 and has become an important window for China’s cultural exchange with other countries. It has cultural exchanges with 130 countries in the world. He stressed that Chinese President Xi Jinping has paid great attention to 2022 Beijing Winter Olympics which will provide a lot of opportunities for Ice Hockey players.

“Sweden is our dreamed country in ice sports. I believe we will establish deep friendship through cultural and sports in particular ice hockey. I sincerely welcome Swedish Ice Hockey Association to visit us. We have established eight Ice hockey clubs in China within just one year, we plan to establish 20 Ice Hockey Clubs this year. Chances are equal for everyone, but if Sweden comes first, we prefer to cooperate with you.”

Kunlun Red Star Ice Hockey Club also presented their ice jersey to their Swedish counterparts while Sweden-China Entrepreneur Association also presented their presents to the honorary guests.

Goran Tidstrom, Vice Chairman of the Board of Djurgardens IF Hockey Club and Swedish Ice Hockey Association Board Member, Mickael Tellqvist, Former Goal Keeper and Martin Lundby from Swedish Ice Hockey Association were also present at the forum.

The forum was organized by Sweden-China Entrepreneurs Association and supported by China International Cultural Communication Center and the Chinese Embassy in Sweden.

Han Xiaodong, Counselor of Commerce and Pu Zhengdong, Counselor of Culture of the Chinese Embassy, Shouting Zhang, President of Nordic Sustainable Development Association, Zhang Shaobin, President of Shenzhen Kong-wah Real Estate Group, Zhang Shenhua from Shenzhen Xinyu Fund and Zhang Luping, General Manager of Rongtai Investment AB were also present at the forum.

Photo/text  Xuefei Chen Axelsson

今日头条:中瑞文化经济体育高峰论坛在斯德哥尔摩举行

 

 

SIPRI Expert on chances and challenges on cooperation of Ice Silk Road

By Xuefei Chen Axelsson

STOCKHOLM, Jan. 11(Greenpost)– Chinese President Xi Jinping has put up forward a proposal about cooperation in Ice Silk Road along arctic routes as the ice in the arctic is melting faster and faster.

Greenpost has a chance to have a  written interview with Ekaterina Klimenko, Researcher and SIPRI expert on Arctic Security. The following is the Q & A.

1.     What are the chances and challenges in the cooperation of this ice Silk Road, or Northern Sea Route for China?

 Traditionally, Russia has been reluctant to allow non-Arctic states to play a strong role in Arctic region, including in economic projects. However, a number of factors have shifted Russia’s policies, among them significant shifts in the world energy markets and sanctions. This allowed for great China’s involvement, first of all, into oil and gas development in the Russia Arctic zone. Moscow and Beijing has significantly expended Chian’s investments in to the joint project on the Yamal peninsular, Yamal LNG.

 The Russian government officials and the President Putin personally have on a number of occasions encourages Asian partners, and China in particular, to look at the Northern Sea Route as a possible alternative shipping route. However, over the last couple years China, and other Asian states, is also seen as investors into the construction of the NSR infrastructure. E.g. in a Joint Statement signed by Chinese Premier Li Keqiang and Russian Prime Minister Medvedev in December 2015, it was highlighted that the two sides would cooperate in developing the NSR into a competitive commercial sea route in the future. On several occasions Dmitry Rogozin, the head of Russia’s State Commission for Arctic Development, has mentioned that Russia and China are discussing cooperation on the NSR.

 Among the major challenges at the moment remains the fact that the Russian Government has still not defined the future of many infrastructure projects along the NSR. It is therefore unclear whether any of the projects will actually be implemented. Thus, despite the evident enthusiasm of Russian officials for fostering Chinese participation in infrastructure projects, this type of cooperation remains ‘on paper’ and does not go further than official statements and signed MOUs.

2.     How will this affect the Arctic countries?

It is too early to say at the moment how Russia China cooperation on the Northern Sea Route would affect the other Arctic states, as there is not much progress with it. I think we will see much more in the next 5-10 years.

 3.     How will it affect the environment?

Expansion of any economic activity in the Arctic brings the risks for environment. Growing shipping along the NSR, especially shipping of hydrocarbons creates significant risks for oil spills.

 4.     How can China participate in projects along the route?

 We have already 2 examples of how China can participate in the projects: the construction of the Belkomur railway and the deep-water harbour in Arkhangelsk. In 2015 Chinese Poly Technologies Inc. signed an agreement to invest in the development of the Belkomur railway and in the future to be responsible for its operation. . The project is believed to have a cost frame of more than 200 billion roubles (€2.67 billion). Poly Technologies has reportedly also expressed an interest in participating in construction of the new deep-water harbour in Arkhangelsk.[1]

I think we will see more of this type of partnerships.

Thank you.