• Published by, 24th Apr 2018 in category Hospitality / Tourism / Retail in English

    Nestlé unveiled two manufacturing facilities in Taizhou of Jiangsu Province with a total investment of 1 billion yuan (USD 159 million) to strengthen its nutritional therapy and dermatology businesses in China. The two adjacent factories, measuring a total of 133,000 square meters, make up the 33rd Nestlé facility in China, underscoring the company’s confidence in the future of the Chinese market. The two factories share some supportive facilities and serve Nestlé Health Science, whose portfolio includes nutrition solutions, diagnostics, devices and drugs, and Galderma, which has a wide range of products treating dermatological conditions. Rashid Qureshi, chairman and CEO of Nestlé China, said that the new factories underscore Nestlé’s commitment to nutrition, health and wellness, "which is fully in line with the government’s priority to build a healthy China."

  • Published by, 19th Apr 2018 in category Engineering / Manufacturing in English

    Swiss pharmaceuticals company Novartis says net income jumped 12% in the first quarter, pointing to explosive growth in its heart-failure drug Entresto as its rollout continues, and powerful double-digit percentage growth for psoriasis drug Cosentyx. The Basel-based powerhouse, one of the world's largest drug companies, said that first-quarter net profit under new CEO Vas Narasimhan rose to USD 2.03 billion when accounting for currency changes, up from USD 1.67 billion a year earlier. Net sales rose 4% to USD 12.69 billion. Sales of Cosentyx jumped 35% to USD 580 million, and Entresto sales soared 126% to USD 200 million. Generics and biosimilars unit Sandoz saw U.S. sales drop 18% amid competitive pressures. Novartis experienced double-digit percentage growth in emerging markets, largely due to an 18% increase in sales in China.

  • Published by, 16th Apr 2018 in category Bilateral Relations in English

    On 16 April 2018, President Xi Jinping met with Chairman of the World Economic Forum (WEF) Klaus Schwab at the Great Hall of the People. Xi Jinping expressed that the cooperation between China and the WEF has almost synchronized with the process of China's reform and opening up. Both sides should keep up with the times, enhance cooperation, jointly strive to seek new driving forces for the world economic growth, and find out realistic and feasible solutions to address global challenges. Klaus Schwab expressed that President Xi Jinping's splendid speech at the WEF Annual Meeting last year was unforgettable and widely applauded by the world today. The WEF advocates promoting economic globalization and multilateralism, and opposes protectionism and unilateralism. The WEF is proud of the cooperation with China over the past four decades. It stands ready to reinforce long-term cooperation with China in such aspects as supporting the advancement of the "Belt and Road" construction and promoting innovative development, and make joint efforts to enhance the global governance system and push forward the settlement of global issues.

  • Published by, 10th Apr 2018 in category Legal / Tax / Consulting / Services in English

    Since 2010, China has been Switzerland’s most important trading partner in Asia and the third-largest globally. The growing number of subsidiaries set up in China is often accompanied by lack of understanding of China’s social and economic background from headquarters in Switzerland. The Swiss Centers China and the St. Gallen Institute of Management in Asia (SGI-HSG) will join forces to offer the second edition of the seminar “Subsidiary in China – Key to Success for the Headquarter” in Switzerland this summer. The first edition last year achieved a great success, offering a comprehensive view and practical approach on foreign investment in China to Swiss business leaders who manage a subsidiary in China or have plans to set up one. This year the seminar will maintain its high quality, aiming to inform participants on the investment environment on the basis of practical experience. It will also include a practical workshop session to provide answers to the concrete case studies the participants present.

  • Published by, 03rd Apr 2018 in category Bilateral Relations in English

    China and Switzerland vowed to further their innovative strategic partnership. The pledge was made between Chinese State Councilor and Foreign Minister Wang Yi, and Swiss Federal Councillor and Foreign Minister Ignazio Cassis when they held the two countries' first round of foreign ministerial strategic talks. In 2016, China and Switzerland established an innovative strategic partnership, the first of its kind between China and a foreign country. China is willing to boost its innovation cooperation with Switzerland in the new era to fulfill the important consensus reached by the two heads of states, Wang said. Earlier in the day, Yang Jiechi, member of the Political Bureau of the CPC Central Committee and Director of the Office of the Foreign Affairs Commission of the CPC Central Committee, also met with Cassis, calling for more progress in the two countries' innovative strategic partnership. Cassis said his country will push forward bilateral cooperation in various fields.

  • Published by, 27th Mar 2018 in category Culture & Society in English

    The watch industry is more reliant on digital than ever before as Chinese consumers take to their phones to research their wristwear. Digital Luxury Group released a tool that measures brands’ traction on Chinese social media just in time for Swiss watch show Baselworld 2018. The rankings on DLG’s “China Word of Mouth Index” are updated daily to reflect a watch brand’s word-of-mouth performance on WeChat, Weibo, and Baidu. The score is calculated based on the percentage of posts about luxury watches that mention the brand. Chopard, ranked number one, took more than 16% of the “share of voice” across the three platforms during the opening day of Baselworld. On WeChat alone, Rolex was ahead, with more than 25% of posts about luxury watches referencing the brand. Longines and Omega came second and third in the WeChat rankings, with 13% and 11% respectively. While social media plays a major factor in watch brand marketing in China, Swiss watchmakers are also seeing a major shift in the composition of traffic coming to their official websites. Chinese consumers have surpassed those from the United States as the largest group of visitors, making up 21% of the total traffic.

  • Published by, 26th Mar 2018 in category Engineering / Manufacturing in English

    New Novartis AG Chief Executive Officer Vas Narasimhan aims to more than double the pharmaceutical giant’s sales in China over the next five years and gain faster reimbursement for cutting-edge cancer drugs as the country speeds up approvals. Novartis hopes to win a “couple of” approvals for new medicines in 2018, Mr. Narasimhan said in a Bloomberg Television interview in Beijing. That follows agreements in China to pay for eight of its drugs. Talks with the Chinese regulator show the company’s ambition to accelerate the introduction of new technologies, such as CAR-T treatments for cancer. Global drug makers like Basel, Switzerland-based Novartis have benefited from a Chinese regulatory overhaul that has opened the market to a range of breakthrough therapies. Novartis is including China now in all late-stage trials on the back of regulatory changes that allow the company to get drugs to the market faster, Mr. Narasimhan said. The Swiss drugmaker last year filed for approval for 15 new products in China, which now accounts for about USD 2 billion in annual sales, he said.

  • Published by, 09th Mar 2018 in category Hospitality / Tourism / Retail in English

    Western Switzerland confirms its attractiveness with the establishment of 88 foreign companies in 2017. This positive result stems from the collaboration between the Greater Geneva Bern area (GGBa) and the economic development offices of its six member cantons. The investments coming from China and the United States experienced a record year.This outcome is the fruit of a long-term work of selective identification and prospection of potential targets that meet well-defined criteria, such as value added, jobs creation and innovation. Among the almost 240 companies that conducted assessment visits to the GGBa member cantons last year, some should get established in 2018 already.“Despite increased international competition, reinforced by the competition of the citiesthemselves, Western Switzerland did very well,” says Pierre Maudet, State Councilor of Geneva and President of the GGBa for two years. “But our lead is shrinking and requires highly attractive framework conditions. Taxation is a major issue that Switzerland must now be able to address without any further delay.” And a new office will soon be opened in Shenzhen, China.

  • Published by, 09th Mar 2018 in category Business in English

    Two Chinese banks have opened branches in Zurich so far. The representatives of the French-speaking financial markets in Switzerland now hope to convince the managers in China to soon set foot in the traditional home of private banking as well. The Greater Geneva Bern Area (GGBa), a business promoter founded in 2010, has Chinese business as its prime target – with a special emphasis on the banking industry. The talks about the opening of branches in Western Switzerland seem to be at an advanced stage. «I expect an opening in coming months, be it this year or in 2019» said Thomas Bohn, the director of GGBa, in an interview with «AWP» news agency (behind paywall). GGBa is in talks with several Chinese banks in connection with the opening of a branch, he added. Two Chinese banks have opened branches in Zurich so far. Industrial and Commercial Bank of China (ICBC) moved in last year, while China Construction Bank (CCB) had opened up shop in early 2016.

  • Published by, 23rd Feb 2018 in category Hospitality / Tourism / Retail in English

    Swiss watch exports saw their strongest growth in more than five years during 2017 according to a report by the Federation of the Swiss Watch Industry. Hong Kong and mainland China were the top two markets for Swiss watches, with sales in Hong Kong rising 21.3% to 15% of the market and mainland China sales skyrocketing by 44.3% to reach 10.9% of the market.According to Bloomberg, the 2012 crackdown on corruption that badly impacted the luxury watch market in China appears to have either played out or lost its teeth. Meanwhile, efforts by the Chinese government to bring luxury spending back to mainland China seem to be working.Independent of external factors, Swiss luxury watches remain hugely popular in China. A colloquialism illuminates how important they are to signaling success among Chinese elites.These are the five most popular Swiss luxury watch brands in China: Longines, Patek Philippe, Omega, Piaget, Rolex.