Following the invitation by the Chinese Minister of Finance, Lou Jiwei, the Danish Minister of Finance, Bjarne Corydon, paid a visit to China on 23 – 26 June 2013.
Minister Corydon was the first ever Danish Finance Minister to visit China. During his visit he exchanged views with his Chinese counterpart on the general economic situation in China and Denmark, including an exchange of views on the economic challenges in both countries.
The Danish government has for the past year enacted several economic reforms as well as budget consolidation to secure long term fiscal sustainability, and recent growth-promoting initiatives. These initiatives are all done in order to embrace the Danish welfare society for future social, demographic, and economic challenges.
The three big credit rating companies as well as the European Union have all praised Denmark for its sound economy and its willingness to reform. Denmark is today one of the few countries in the world that still holds a triple-A rating from all three credit rating companies.
During his visit Minister Corydon met with Minister Lou Jiwei the 24th of June as well as Vice Minister Liu Jieyi from the International Department of the CPC Central Committee. The Minister also had meetings with the People’s Bank of China and China Development Bank.
The 25th of June Minister Corydon travelled to Suzhou by high-speed train in order to visit Danish companies in the Suzhou area.
After the visit to Suzhou, the Minister was in Shanghai the 26th of June. In Shanghai the Minister visited several Danish companies as well as financial institutions and economic experts.
Denmark is a part of the European Union but not a part of the Eurozone. Denmark therefore has its own currency called “Danish krone”. The Danish krone is pegged to the Euro through the EU’s exchange rate mechanism.
The total Danish GDP in 2012 was 313.6 billion USD according to the International Monetary Fund (IMF). According to IMF the Danish GDP will grow 0.8 per cent in 2013, which is higher than the euro area, which according to the European Central Bank (ECB) will have its GDP fall by 0.6 per cent.