商务部当天举行专题发布会，介绍中国—北欧经贸合作论坛以及中国与北欧经贸合作的有关情况。 新华财经北京9月29日电（记者谢希瑶）商务部欧洲司副司长王宇鹏9月29日说，近年来，中国同北欧国 家经贸合作保持良好发展势头，贸易规模稳步扩大，双向投资热度不减，绿色合作方兴未艾。 王宇鹏介绍，2024年，中国与北欧五国贸易额达到531.7亿美元，同比增长8.5%。今年1至8月，中国与 北欧五国贸易额达到379.6亿美元，同比增长7.1%，增速是同期中欧贸易的两倍多。其中，药品、精密 机械是北欧国家对华出口的主力军，电机电气设备、车辆等高附加值产品占比稳步提升，双边贸易结构 持续优化。 这一论坛是中国首个也是目前唯一专门面向北欧国家的经贸合作长效机制，是"投资中国"的重要活动安 排，由商务部和湖北省人民政府共同主办。 （文章来源：新华社） 记者从发布会上获悉，为推动中国与北欧国家经贸关系高质量发展，第七届中国—北欧经贸合作论坛拟 于10月14日至16日在湖北武汉举办，将以"支点湖北智链全球"为主题，举办1场开幕式、5场重大活动， 12场专题活动。 湖北省商务厅厅长龙小红介绍，活动首次设置主宾国，丹麦作为主宾国将组织数十家企 ...

Group 1: Trade Negotiation Progress - The US has reduced tariffs on Chinese goods from 145% to 30%, with 24% of the tariffs suspended for the first 90 days[2] - After the suspension, the average tariff rate imposed by the US on China will be 51%, which is higher than the average non-MFN (Most Favored Nation) tariff rate of 42%[2][16] - The negotiations indicate a willingness to communicate, moving from an irrational tariff level to a more rational one, suggesting the start of substantive trade discussions[3][18] Group 2: Impact on Trade and Exports - During the 90-day suspension period, China's export growth to the US may decline by 21.6% to 27.6%[4][21] - In April, China's export growth to the US was -21.03%, indicating that further deterioration is unlikely within the year[4][21] - High price elasticity industries, such as optical and medical instruments, are more sensitive to tariff changes, with significant impacts expected from tariff adjustments[5][23] Group 3: Market Sentiment and Future Outlook - The positive outcome of the trade talks is expected to enhance market risk appetite and support domestic economic improvement[6][24] - The Chinese government is adopting a more proactive policy stance, which may lead to accelerated implementation of existing policies in the second quarter[6][24] - Future negotiations may still face uncertainties, reflecting the historical behavior of the Trump administration regarding trade policies[3][26]

Financial Data and Key Metrics Changes - The company reported a record adjusted EPS of $2.72, up 13% from the prior year [8] - Organic growth accelerated to 9% from 6% in the prior quarter, with segment margins reaching 23.9% [8][13] - Total company orders increased by 3% compared to the prior quarter, resulting in a book-to-bill ratio of 1.1 [8] Business Line Data and Key Metrics Changes - **Electrical Americas**: Organic sales growth accelerated to 13%, with an operating margin of 30%, up 80 basis points year-over-year [14] - **Electrical Global**: Organic growth increased from 5.5% to 9%, with a 2% FX headwind impacting results [16] - **Aerospace**: Organic growth reached 13%, with a strong operating margin of 23.1% [19] - **Vehicle Segment**: Revenue declined by 15%, including an 11% organic decline, but maintained a margin of 15.5% [20] - **eMobility**: Revenue increased by 2%, with a 3% organic growth [20] Market Data and Key Metrics Changes - The U.S. data center construction backlog increased to nine years based on 2024 build rates, up from seven years [11] - Strong activity was noted in EMEA and APAC regions, with double-digit organic growth reported [16] Company Strategy and Development Direction - The company is focused on leveraging megatrends in its end markets to drive growth, particularly in data centers and utilities [10][25] - The acquisition of Fiberbond is seen as a strategic move to enhance capabilities in the data center market [10][11] - The company is committed to maintaining a localized sourcing and manufacturing strategy to mitigate tariff impacts [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth prospects despite current economic uncertainties, raising the organic growth outlook for 2025 to a range of 7.5% to 9.5% [28][30] - The company reaffirmed its adjusted EPS guidance for 2025, projecting an 11% growth over the prior year [28] Other Important Information - The company has implemented measures to control costs and limit discretionary spending in response to dynamic market conditions [23] - Management highlighted the importance of strong relationships with customers and suppliers to minimize disruptions [23] Q&A Session Summary Question: Data center performance and expectations - Management noted strong double-digit growth in the data center market and expressed optimism for continued high levels of orders and negotiation activity [35][37] Question: Competitive positioning in the U.S. market - The company emphasized its strong local presence and ongoing investments to expand capacity, which positions it favorably against competitors [39][41] Question: Electrical Americas order outlook - Management expects strong order performance in Electrical Americas, supported by a robust backlog and negotiation pipeline [48][50] Question: Implications of data center backlog increase - The increase in backlog is expected to drive demand for modular solutions and enhance the company's competitive position [99][102] Question: Tariff impact on margins - Management discussed the dynamic nature of tariffs and the company's strategy to mitigate cost pressures through pricing and operational efficiencies [72][74] Question: Opportunities in data center orders - Management indicated that the transition to higher power density in data centers will benefit the company's offerings and drive growth [120][122]