News

  • Published by www.businesswire.com, 21st Jul 2017 in category Bank / Finance / Insurance in English

    UBS Asset Management today announced that its wholly foreign-owned enterprise (WFOE), UBS Asset Management (Shanghai) Limited, has been granted a Private Fund Management (PFM) license from the Asset Management Association of China (AMAC). The license allows the WFOE to offer onshore fixed income, equity, and multi-asset private funds to both institutional and high net worth investors in China. "China is a key growth market for UBS Asset Management. Our goal is to be a leading asset manager in China for both onshore and offshore investors and a strong partner to Chinese clients investing overseas," said Ulrich Koerner, President of UBS Asset Management. "UBS Asset Management is the first international manager with a QDLP quota to receive a PFM license in China’s onshore market. Securing the license expands the breadth and depth of our domestic offering, complements our offshore capabilities and, importantly, demonstrates our continued support of China in its efforts to open its capital markets to the world," said Rene Buehlmann, Group Managing Director, Head Asia Pacific at UBS Asset Management. "UBS Asset Management has been serving China investors since the 1990s. With the addition of the PFM license, augmented by our other platforms in China, we can provide a broad range of services to onshore and global clients. It also allows us to work more closely with subsidiaries of global firms in China to meet their domestic investment needs," he added.

  • Published by abb.com/cawp/seitp, 18th Jul 2017 in category Engineering / Manufacturing in Chinese

    Recently, ABB and the China national machinery and equipment Corporation (CMEC) signed a strategic cooperation agreement "ABB power and automation world" activities held in Hangzhou,  to further deepen bilateral relations and cooperation, and work together to explore the global market. Under the agreement, both sides will give full play to their advantages and jointly explore the global power infrastructure projects, expand "one Belt one Road” overseas Engineering Procurement Construction (EPC) market. Dr. Chunyuan Gu, Senior Vice President of ABB Group, Chairman and President of ABB (China) Limited, said: "The 'one Belt one Road' initiative brings new opportunities for ABB and Chinese enterprises to further cooperate. Relying on ABB's leading technology advantages and rich experience in project management,  We are providing products, technologies and services that meet international standards for a growing number of Chinese companies, including CMEC. In the future, we will help our clients enhance project management and implementation through ABB Ability digital solutions, to create greater value, to achieve the win - win cooperation.”

  • Published by sina.com/news, 18th Jul 2017 in category General Interest in English

    China bagged three more medals to finish in second position behind South Africa at the World Under-18 Athletics Championships that ended in Nairobi on 16 July. By the end of day four, China lay in third position out of over 160 nations that featured in the event with four gold medals, two silver medals and one bronze medal behind first-placed South Africa which had four gold medals, two silver medals and two bronze medals. The IAAF Council in 2016 decided to discontinue the youth aid and will instead work with area associations to find a more appropriate competition structure for assisting the career development of U18 athletes. The event was highly successful despite the USA, Britain, New Zealand, Australia, Canada and Switzerland having pulled out, citing security concerns.

  • Published by jingdaily.com/swiss-fashion-designers-gain-china-market, 15th Jul 2017 in category Culture & Society in English

    Swiss watches have always been at the top of the shopping list for Chinese overseas tourists, but would they be as passionate about niche designer brands from Switzerland? China is reported to be the fifth largest market for Switzerland tourism and its status is rising. However, Swiss brands overall have yet to establish themselves among Chinese customers. “At the moment, it (the presence) is not huge. It could be bigger. The market here is more and more important for them,” said Yannick Aellen, director of Mode Suisse. For example, Julian Zigerli, known for his avant-garde designs, had a short collaboration with Paris department store Galeries Lafayette’s outpost in Beijing three years ago. He says that communication has been difficult for small designer brands in China. While Swiss fashion brands are still a minority in China, they are on the radar of Chinese fashionistas who are avid social media users. Like Zigerli, Reichmuth found the street style in China to be unexpectedly inspiring. “They are very open,” she said. “I was amazed at the extravagant, crazy pieces you can find in the shops here. In Switzerland, people are very understated and simple. You want to fit in. Here people want to stand out with their outfit.”Meanwhile, Chinese designers are also tempted to test the waters overseas. “We want to make a good first impression,” said a Chinese designer, “to see how we can develop in each other’s country.”

  • Published by www.nytimes.com/reuters, 12th Jul 2017 in category BUSINESS NEWS in English

    The World Economic Forum (WEF) in the Chinese city of Dalian last week for the so-called Summer Davos came at a time when China is assuming a greater global profile, including on issues such as climate change and trade. This forum is not the first time this year that China has used the WEF to position itself positively on the world stage. In January, Xi Jinping became the first Chinese president to give a speech at Davos in Switzerland, making an impassioned defense of economic globalization in the face of protectionist rhetoric. China has been a big beneficiary of globalisation, with International Monetary Fund data since 2014 showing that the Chinese economy is now larger than the US on a purchasing power parity basis. But the consequences of China’s strong economic growth have been more than financial. In terms of perceptions, many believe the global economic and political balance of power has swung significantly, and this has been reinforced by major Chinese trade and diplomatic forays such as the “One Belt, One Road” initiative.

  • Published by bloomberg.com/news/articles/2017-07-18, 09th Jul 2017 in category BUSINESS NEWS in English

    Forster is co-chief executive officer of Forster Rohner AG, a 113-year-old company in the eastern city of St. Gallen that produces fabric that can cost thousands of dollars per yard—including material he says was used in the dress British socialite Pippa Middleton wore at her wedding in May. Forster Rohner is among dozens of Swiss textile producers that have managed to survive, and even thrive, despite wages that are among the world’s highest and a currency that’s risen 50 percent against the euro since 2008. “It’s clear that we don’t think the strong franc is great,” says Forster, a great-grandson of the company’s founder. “But our creative brainpower really comes from our site in Switzerland.” The key is combining the country’s history of quality workmanship with its tradition of innovation: automating where it makes sense and doing only the most intricate pieces by hand—while exporting lower-value work to less expensive locales. The company employs 250 people in St. Gallen—where unemployment is just 2.5 percent—and has 640 workers in factories in China and Romania crafting material for lower-cost clothing. “It is encouraging to produce something unique in Switzerland that you can’t find elsewhere,” Forster says. “You can’t have China without St. Gallen, and vice versa. It’s a system in which each part has its own function. And the function of Switzerland is clear: driving innovation and design.”

     

  • Published by rts.ch/info/economie/8789524, 06th Jul 2017 in category BUSINESS NEWS in English

    Swiss export has reached a record of CHF 109, 6 billion during the first semester whilst import hit CHF 90.7 billion, the highest in 8 years. In terms of industry, chemistry/pharmacy shows an increase in export of 7% or CHF 32 billion, reaching a historical level. Export to North America and Asia has increased by 6%. With a raise by a fifth, the turnover with China has reached a new peak. But the Middle East has fallen by 16%. The European continent has increased by 4%. After a bounce back in May, Swiss horology continues to recover. Its deliveries abroad are of 5.3% in June at CHF 1.7 billion. In the first semester, it stagnated (+0,1% at 9,5 billion). China (+21,7%) and the United Kingdom (+16,3%) particularly contributed to the performance. Hong Kong is slightly higher (+0,5%). However, the United States shows a clear fall back (-5,9%).
     

  • Published by fmprc.gov.cn/ce/cech/chn/dssghd/, 03rd Jul 2017 in category Bilateral Relations in Chinese

    The Chinese Embassy to Switzerland held a visit for Swiss students and invited close to 50 teachers and students from 6 Swiss universities of Applied Science and Artsto the Embassy as guests. The Chinese Ambassador Mr. GengWenbing attended the event and delivered a speech. During his speech, Ambassador Geng warmly welcomed the guests. He briefly introduced the development history of China, the achievements China has made in economy and society, also the good momentum of the rapid development of Sino-Swiss relations. He encouraged the students profited the opportunity of visiting China, to better understand China, strengthen exchanges with Chinese youth, build friendship and make Sino-Swiss friendship continue.The teacher representative thanked the Embassy for organizing the event and providing a valuable opportunity for the students to communicate with Chinese diplomats.

  • Published by bystronic.com.cn, 30th Jun 2017 in category Engineering / Manufacturing in Chinese

    During a festive ceremony on 18 May 2017, Bystronic inaugurated its new sales and service center in Shanghai. The new premises offer Bystronic an enhanced infrastructure with modern offices and a demo center. During his opening address at the inauguration of the new business location, Dr. Song You, President of Bystronic China, emphasized that the new center will allow Bystronic to offer even more comprehensive support to its Chinese customers with sales advice and services relating to all the steps of sheet metal processing. In addition to Shanghai, Bystronic has two other Chinese business locations in Shenzhen and Tianjin that act as centralized points of contact for the sales and service of its sheet metal processing systems. The goal of this infrastructure is to be a competent and reliable local partner for all the customers’ concerns.For Bystronic, China is one of the most important individual markets worldwide. As Dr. Song You explained, ever since Bystronic took up its sales activities, it has been able to continuously expand its range of solutions in China. Today in China, Bystronic is one of the top 3 international manufacturers of machines for the cutting and bending of sheet metal.

  • Published by news.xinhuanet.com, 24th Jun 2017 in category Bank / Finance / Insurance in English

    Singapore and Hong Kong will attract wealth from abroad at more than twice the pace of Switzerland over the next four years as Asia’s economic expansion draws cash from millionaires, Boston Consulting Group predicts. For decades, wealth hubs including Switzerland and Singapore have benefited from political and economic instability elsewhere that prompted rich people to move money abroad in search of investment returns. Asia’s biggest wealth centers are attracting clients from within the region who are becoming richer in tandem with its rising economic output. “Relative to Switzerland, Hong Kong and Singapore are growing faster because of the economic growth from China to India,” said Mariam Jaafar, a Singapore-based BCG partner and one of the authors of the report. Still, China’s restrictions on investment outflows may slow some of the movement of assets from the nation, Jaafar said. China ranks above Taiwan, Hong Kong and Indonesia as the largest source of offshore wealth in the Asia-Pacific region, according to BCG. It contributed almost USD 12 billion in revenue pools for private banks last year, the most in the region, the report showed. Banks from UBS Group AG to Credit Suisse Group AG and DBS Group Holdings Ltd. have been adding wealth management staff to service global clients as assets grow.
     

     

Pages