Helena Hedblom, president and CEO of Epiroc

Epiroc's factory in Nanjing, Jiangsu province.

Swedish company Epiroc remains confident in China's economic outlook and is dedicated to furthering its contributions to the country's development, and the friendship between China and Sweden.

On May 9, 1950, Sweden became the first Western country to establish diplomatic relations with the People's Republic of China. Helena Hedblom, president and CEO of Epiroc, which specializes in mining and infrastructure equipment and solutions, said this pioneering move broke the diplomatic deadlock at the time, building an important bridge for exchange between China and the Western world.

"As early as the 18th century, the Gotheborg had already forged trade and cultural ties between China and Sweden, driving mutual trade and deepening the friendship and cooperation between the two nations," she said.

Gotheborg of Sweden, an 18th-century wooden merchant ship, made three voyages to China before sinking near Gothenburg in 1745. A full-size replica, now the world's largest oceangoing wooden sailing ship, continues to visit Chinese cities to enhance friendship between the two countries.

Hedblom highlighted Epiroc's pivotal role in China-Sweden economic and trade cooperation. "With more than 150 years of history, Epiroc was among the first multinational companies to enter the Chinese market. As a Swedish enterprise with more than 30 years of operations in China, we have witnessed and participated in the economic rise and industrial development of China," she said.

In recent years, Epiroc has increased its presence in China. In 2022, the company moved its production and research and development operations from Yokohama, Japan, to Nanjing, China. It also upgraded and expanded its factory in Zhangjiakou, Hebei province, to boost drill tool manufacturing capacity. In 2024, the company registered a new sales company of GIA in Nanjing to fully support the needs of Chinese customers.

"These actions demonstrate Epiroc's strong confidence and long-term commitment to the Chinese market," Hedblom said. "With advanced technology, high-quality products and comprehensive after-sales services, Epiroc has strongly supported the rapid development of China's mining and construction industries and injected momentum into China-Sweden economic and trade cooperation."

She emphasized that Sweden's culture of innovation and China's fast-paced development have provided a powerful driving force for Epiroc's growth in China. The annual Epiroc China Innovation Day, for instance, sees the launch of numerous products and solutions.

Amid uncertainties in global trade, Hedblom remains confident in China's economy. "Even though the world is facing uncertainties and challenges, China's economy has shown great resilience and stability," she said, adding that the government's continuous efforts to open up the market and optimize the business environment are encouraging.

Hedblom pointed out that China is not only the most dynamic member of the global economy but one of the most important markets for Epiroc.

"As China's economic structure upgrades, the demand for efficient and environmentally friendly equipment continues to grow, providing us with development opportunities.

"We are very optimistic about the future development of China's economy, especially with its strong innovation capabilities and resources," she said.