Prospects for Sino-Finnish Cooperation - Outlook for Renewable Energy Industry

The aim of this research-based thesis is to evaluate the prospects of Sino-Finnish cooperation in the renewable energy industry in light of current global events and the looming energy crisis and identify how the opportunities are utilized successfully. Also assessing the potential role of services export as a key driver of growth through cooperation. An extensive literature review will build a solid foundation for the research, investigating how the unique characteristics of China as well as the various current challenges will reflect in the operating environment for Finnish entities in China long term. Over the years, China has managed to capture the attention of foreign enterprises seeking momentum in new markets. To date, numerous Finnish companies have built a lasting presence in Chinese markets and have simultaneously generated prosperity in Finland. The Chinese business environment presents several distinct challenges. Therefore, cooperation with Chinese entities and operating in the country requires an adequate understanding of the country's political landscape and its evolving role in the global economy. This will be covered through academic discussion to generate a more thorough picture of the volatile operating environment. The importance of an up-to-date understanding of global dynamics and their direct and indirect consequences on business activity stands out for a country like Finland, which has established particularly cooperative relations with China. This expanded cooperation has exposed the country to both growth opportunities and volatility caused by the threat of geopolitical conflicts. Moreover, the last few years have introduced unprecedented challenges to the global economy, with the COVID-19 outbreak, of which recovery is still ongoing, and soon after, the world was already facing a new humanitarian and economic crisis caused by the Russian invasion of Ukraine. While the short-term impacts of these crises have become more apparent to companies, long-term uncertainty has on the other hand increased significantly, especially for foreign companies operating in China. As the main aim of this thesis, the in-depth analysis regarding the above-mentioned matters provides useful, comprehensive insights and practical tools that Finnish renewable energy companies seeking growth and innovation from Chinese markets can utilize. Further investigating development of the renewable energy industry, Finland’s expertise in the industry, and China’s future objectives with its green transition strategy will help accurately assess the outlook and provide reliable suggestions. To conclude, the author will also reflect on the thesis process and evaluate the reliability and validity of the work and its results. Recommendations for future research will also be put forward