Dr. Borje Ljunggen, Swedish ambassador to China, said here Tuesday that China has replaced Japan as Sweden's largest business partner in Asia.

The economic exchanges between two nations have developed quickly in these years and so far about 250 Swedish companies have invested in China, said the ambassador at the opening ceremony of "Sweden Day" in Shenyang, capital of northeast China's Liaoning province.

Because many of the Swedish investments were implemented through overseas subsidiary companies, it's difficult to calculate the exact number in China, but it should be more than 10 billion US dollars, said foreign trade experts.

Telecommunications and auto manufacture are the most vigorous parts in the bilateral economic cooperation. Ericsson and Volvo have achieved noticeable results on Chinese market, said experts.

"Sweden Day" was also held earlier this year as a way to build up public image and economic relations in major Chinese cities such as Wuhan, Chengdu and Chongqing.