News

  • Published by swissinfo.ch, 13th Feb 2018 in category Business in English

    According to a survey, 72% of Swiss business leaders in China expect “higher” or “substantially higher” sales of goods from Switzerland to China and Hong Kong in 2018 than in 2017, when exports reached a record CHF16.7 billion (USD 17.9 billion).Just 5% of business leaders anticipated lower export figures this year, according to the preliminary results of the 2018 Swiss Business in China Survey.According to the Swiss Centers China press release, in 2017Switzerland exported CHF16.7 billion worth of goods to China and Hong Kong, which is an increase of 13.8% on the previous year and represents a new record. China and Hong Kong bought CHF7.2 billion (USD 7.7 billion) worth of watches and precision instruments from the alpine nation in 2017, making China the largest world market for this category of Swiss products. “While Swiss exports in 2017 to key markets such as Germany, Italy and France did not yet rebound to their pre-crisis 2008 levels, exports to China and Hong Kong grew by 66%” from 2008 to 2017, said Swiss Centers China co-founder Nicolas Musy.After watches and precision instruments, the most important export sectors from Switzerland to China and Hong Kong in 2017 were pharmaceuticals and chemicals (+13% growth), as well as machinery (+12.8%).

  • Published by technode.com, 29th Jan 2018 in category Business in English

    Ant Financial Services Group today announced that Alipay is soon to be made available to most local businesses in the Swiss town of Davos, thanks to a partnership with SIX Payment Services, a pan-Europe payment service provider based in Switzerland. Restaurants, bars, supermarkets and hotels in Davos will be offering Alipay, all with merchant information available in Alipay’s in-app overseas traveller service platform. Alipay, along with its arch-rival WeChat Pay, has aggressively expanded globally in recent years. Data from research institution iResearch shows that the value of China’s mobile payments market tripled to more than RMB 38.5 trillion (USD 5.6 trillion) in 2016 and is projected to reach RMB 55 trillion in 2017. Comparing the marketshare, Alipay accounted for over 80% of transaction value just three years ago, however, it held a 54% share of mobile transactions by value, while WeChat Pay claimed 40%, in the first quarter of 2017. With around 40 flights between the two countries every week, China has become the fourth largest source of tourists to Switzerland and the two nations experienced over 1.2 million two-way visits between China and Switzerland in 2017, up 12% year-on-year. Holiday is the peak season, as Alipay overseas transaction grew by eight times over National Holiday Golden Week in 2017.

  • Published by xinhuanet.com, 24th Jan 2018 in category Bilateral Relations in English

    China and Switzerland Tuesday pledged to further promote bilateral relations, at a meeting here between senior officials of the two countries. Liu He, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and director of the General Office of the Central Leading Group for Financial and Economic Affairs, met with Ueli Maurer, vice president of the Swiss Confederation and head of the Finance Department. Thanks to the joint efforts of the presidents of both countries, China and Switzerland have further strengthened mutual trust and deepened economic and trade cooperation and the two sides should implement the consensus reached by leaders of the two countries, further strengthen bilateral cooperation in all areas, and advance the innovative Sino-Swiss strategic partnership, Liu said. Maurer admired the progress made by China, saying that Switzerland is very interested in China's opening up and is ready to further strengthen cooperation with China in various fields. Switzerland is ready to encourage more Swiss companies to invest in China and also supports Chinese investment in Switzerland, and Switzerland plans to coordinate cooperation with China within the context of the Belt and Road Initiative, and to promote the continuous development of bilateral relations of friendship and cooperation in all fields, Maurer said.

  • Published by scmp.com, 07th Jan 2018 in category Bank / Finance / Insurance in English

    Zurich Insurance, Switzerland’s largest insurer, is seeking a joint venture partner in China, as the country’s recent easing of financial sector rules, tempts it to return to the mainland’s life insurance market which it quit five years ago. “We have ambitions to grow in mainland China, which is a very big market with huge business opportunities,” Jack Howell, chief executive for Asia-Pacific at Zurich Insurance, told the South China Morning Post in an exclusive interview. The insurer previously had a 20% stake in New China Life Insurance, which it sold in 2013. It currently operates a wholly owned general insurance company, Zurich General Insurance Company (China), which offers property, corporate and other commercial risk insurance. “We have ambitions to grow in mainland China, which is a very big market with huge business opportunities,” Jack Howell, chief executive for Asia-Pacific at Zurich Insurance, told the South China Morning Post in an exclusive interview. In November 2017, China announced that it would relax the 50% cap on foreign ownership in life insurance joint ventures so that overseas investors could own a majority 51% stake in three years’ time, with the cap completely removed two years later.

  • Published by nzz.ch, 06th Jan 2018 in category General Interest in English

    In Beijing, the 18th Swiss School abroad, which will be recognized by Bern, has opened its doors. The values there, such as independent learning, self-initiative and creativity are expected from China's rulers.So few ones have been so honest: “I am a crazy chicken” said Cécile Ottiger about herself. This primary teacher has not experienced a classic life path. Though she had under her wings the first and second year classes of a primary school in Oberuzwil in Saint-Gall during 36 years until last summer. But then she moved into the wide world. Since a few month ago, she teaches in the Swiss School in Beijing, which has been officially inaugurated on 30 October. “Every day is a new adventure.”, says Ms.Ottiger, who has never experienced China before. In seek of change in her life, she was almost forced to anticipate this step with attention and curiosity.

  • Published by just-food.com, 01st Jan 2018 in category Hospitality / Tourism / Retail in English

    Nestle is weighing up the options for one of its dairy plants in China. The world's largest food maker is considering the future of a factory in Hulunbuir, a city in Inner Mongolia, a province in north-eastern China. The facility, one of four dairy sites Nestle has in China, manufactures raw milk powder. The China Daily newspaper claimed Nestle is planning to sell the plant and has held talks with local business Ningxia Saishang Dairy Co. Approached by just-food and asked if Nestle is looking to sell the factory, a spokesperson for the country's business in China said: "Due to market changes, Nestle Hulunbuir Dairy Factory is seeking a solution to make our dairy business continuously sustainable. We are reviewing different options in consultation with relevant stakeholders. There are no specific details to share at this stage. We hope to find a solution that is in the best interests of all concerned parties." The spokesperson added: "Dairy is an important component of Nestlé's product offering and business operations in China. We remain fully committed to building a healthy and sustainable dairy business, with significant investments made in support of this ambition."

  • Published by xinhuanet.com, 01st Jan 2018 in category Bilateral Relations in English

    Chinese President Xi Jinping on Monday sent a congratulatory message to Alain Berset on his election as president of Switzerland. In his message, Xi said that with joint efforts, the China-Swiss innovative strategic partnership becomes more energetic and effective, and the friendship has gained popular support in the two countries. Xi said he highly values the development of the relationship between China and Switzerland, and is willing to work with President Berset to develop bilateral cooperation in various fields to a new level, so as to better benefit the two countries and two peoples.

  • Published by https://www.pwccn.com, 24th Dec 2017 in category Legal / Tax / Consulting / Services in English

    PwC unveils key metrics highlighting the rapid rise of eSports – competitive video gaming events - in China.  Already the third largest market globally, PwC data shows that over the next four years, eSports in China is on course to extend by a compound annual growth rate (CAGR) of 26.4%, rising from USD 56 million in 2016, and is estimated to be worth USD 182 million by 2021. Figures from PwC chart the dynamic expansion of eSports in China, now the second largest market in Asia. Currently, only the Republic of Korea generates more value in the region, which itself is expected to reach USD 195 million by 2021, albeit with a lower CAGR of 13.9% over the next four years.  The U.S. is still the largest national market by value, anticipated to be worth USD 299 million by 2021, aided by a buoyant 22.6% GAGR.“The evolution of eSports is incredibly exciting and it’s unfolding at a staggering scale here in China. As a recent example, last week, the World Championship finals for League of Legends (LoL) - among the most popular video games in China - filled the national stadium in Beijing. And yet ticket sales are just the tip of the iceberg, with millions more watching the finals at home via live streaming, indicating the vast size and range of opportunities that await in this dynamic area.” Said Frank Cai, PwC China Assurance partner.According to the PwC Global Entertainment and Media Outlook 2017 - 2021 (E&M Outlook), the upward trend of eSports in China correlates with the nation’s booming video game market, which generated revenues of USD 15.4 billion in 2016, and is on track to rival the US – currently the largest market - by 2021, by which time a value of USD 26.2bn is predicted to have been reached.

     

  • Published by https://www.ft.com/content, 21st Dec 2017 in category Hospitality / Tourism / Retail in English

    A sales surge at luxury goods group Richemont has highlighted the recovery in top-end Swiss mechanical watches as the sector brushes off the threat posed by Apple and other makers of smartwatches. Richemont’s watch sales in the six months to September 30 were 15% higher than the same period a year earlier, the Swiss group reported on 10 November. Together with a stronger performance in jewellery, the rebound helped lift operating profits by 46% to EUR 1.17bn. Swiss watchmaking has been hit in recent years by sluggish global economic growth, excessive inventory, a clampdown on corruption in China — as well as the rise of the Apple Watch. But this year, the trends have largely gone into reverse. Richemont, whose brands include Cartier, Van Cleef & Arpels and Montblanc, said most of its markets were “in positive territory”, led by mainland China, Korea, the UK and “notably a return to growth” in Hong Kong, the largest export market for Swiss watches. Sales in the UK had been boosted by the weak pound since the country voted to leave the EU. The results were flattered, however, by exceptional measures a year ago to reduce excessive inventory, when Richemont bought back watches and destroyed them. Excluding the prior period’s one-time charges of EUR 249m, largely related to the buybacks, operating profits increased 11%.
     

  • Published by http://www.abb.com.cn, 17th Dec 2017 in category EM in Chinese

    ABB showcased its factory automation solutions and ABB Ability™ Connected Services including robotics, smart sensors, and energy efficient motors and drives systems at the 19th China International Industry Fair (CIIF). The company also showcased three new products and solutions at its 1,300 square meter exhibition booth (booth number: 8.1H-E001) at the National Exhibition and Convention Center, Shanghai. The company’s exhibit highlights the connectivity and integration of ABB automation technologies in smart factories, which support Chinese manufacturers at a critical time in the continued transformation of the industry. Under the "Made in China 2025" strategic plan, a new round of technological upgrades and industrial transformation will promote rapid changes in the industrial field. Smart manufacturing, featured with information technology and the accelerated integration of the manufacturing industry will, in turn, increase China’s economic development and growth. Chinese manufacturers are moving to highly flexible, increasingly digital intelligent production systems in their shift to the high end of the industrial value chain.

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