Reader's Digest > 11 October - 24 October

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Reader's Digest, 11 - 24 October 2014

Swiss and Chinese Business Related News in Switzerland and China


PRC Deputy Foreign Minister Visited Switzerland for a Political Consultation
Published by China Embassy in Switzerland, 16th October 2014
The Deputy Foreign Minister of People’s Republic of China, Mr. WANG Chao paid a visit to Switzerland and met State Secretary of the Ministry of Foreign Affairs of Swiss Confederation, Mr. Yves Rossier, in order to hold a vice-minister level political consultation. The two sides exchanged views on bilateral relations and regional and international issues of common concerns.
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China Again Hosts ITMF
Published by, 21st October 2014
After 2009 in Shanghai, this year’s ITMF Annual Conference, organized by the International Textile Manufacturers Federation (ITMF) based in Switzerland, was held again in China, this time in Beijing on October 16-18. Over the last few years, China has become an increasingly important key market. Textile World talked to ITMF Director General Christian Schindler, Ph.D., about the conference, ITMF and its role in the global textile industry.

Venture Leaders China – Couldn’t Be Better as the First Edition
Published by, 18th October 2014
Inspired by 13 years of success with the venture leaders USA program, venturelab decided to expand its offer and give new market opportunities to the most innovative Swiss startups. For Swiss startups, China is a key market to explore. With growing opportunities and exciting market prospects, as well as the necessity to strengthen the visibility of Swiss high tech in China, swissnex was thrilled to collaborate for this first edition of the Venture Leaders China. As part of the program, the venture leaders were required to face local entrepreneurs in pitching competitions in Beijing and Shanghai. The Global Pitchfest on September 10th attracted around 200 participants and 18 local start-ups. A summary of the event is now available under the above link.
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Ruedi Nützi Wins China Friendship Award
Published by, 15th October 2014
Prof. Dr. Ruedi Nützi, Director of the FHNW School of Business was honoured with the Chinese Friendship Award in Beijing. The award is conferred upon foreign experts who have contributed to China’s economic and social development in the areas of economics, technology, education and culture. The Award, representing the highest honour China bestows upon foreign experts, was presented to 100 recipients from 25 nations in a formal ceremony by Vice President Mai Kai. Ruedi Nützi – the only Swiss recipient of the award – received it for his engagement in education conducted as part of the focus of the FHNW School of Business, which receives support by the FHNW and its four supporting Cantons. “Receiving this Award will open up new doors in China and is a recognition of my employees and of the FHNW”, Ruedi Nützi said after the ceremony.

Federer Wins 4th Title of Year at Shanghai Masters
Published by China Daily, 13th October 2014
Shanghai Masters winner Roger Federer was so rusty in his first match back this week after a month-long break that he was close to packing his bags and heading home. The Swiss star had racked up 57 unforced errors against Leonardo Mayer in the second round and fought off five match points before finally pulling through well after midnight. Four days after his narrow escape, however, he captured his fourth title of the year with a 7-6 (6), 7-6 (2) win over France's Gilles Simon in Sunday's final. "I got very, very lucky," Federer said. "I know what a privilege it is to be here today." It's been a banner year for Federer despite the fact he's fallen just short at the majors, including a heart-breaking loss to Novak Djokovic in the Wimbledon final. Federer leads the tour this season in match wins (61), top-10 wins (13) and final appearances (nine). And on Monday, he will leap past Rafael Nadal to No. 2 in the rankings for the first time in more than a year.

Ugo Rondinone: Breathe Walk Die
Published by China Daily, 11th October 2014
With the support of Pro Helvetia Shanghai, the Rockbund Art Museum is thrilled to introduce the very first exhibition in China of the internationally acclaimed artist Ugo Rondinone. The exhibition will be opened from 13 September 2014 till 4 January 2015. Ugo Rondinone’s oeuvre takes up a unique position in the contemporary art scene and his contribution in revisiting the codes and the histories of the visual arts has been exceptional.

Nantong Hosts Fiber Art Biennale
Published by China Daily, 10th October 2014
The city of Nantong, Jiangsu province, held an opening ceremony for the eighth “From Lausanne to Beijing” International Fiber Art Biennale and Symposium on Sept 30. The exhibition, co-hosted by the Nantong government and Academy of Arts and Design of Tsinghua University, will last until Oct 18 and have over 270 works from 43 countries on display. The event, originating from the International Biennial of Tapestry at Lausanne, Switzerland, initially started in Beijing in 2000. It is held every two years in different cities in the country. Zhu Jin, deputy mayor of the city, and Han Jingyang, deputy Party secretary of Tsinghua University, attended the ceremony.
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Swiss Bliss: Switzerland Tops List of Expats' Favourite Destinations
Published by, 22nd October 2014
Switzerland is the world's favorite destination among expats, followed by Singapore and China, a poll on quality of life for bank HSBC found on Wednesday. "Many Switzerland-based expats mentioned the better work-life balance, availability of outdoor activities and the family-centric culture as the reasons they enjoy the Swiss lifestyle," the British bank said. The poll questioned 9,300 people working in various sectors and mostly aged between 35 and 54. They were asked about their financial situation, such as salary, savings and the local economy, as well as their quality of life and family issues such as education opportunities for children.

Chinese Future Innovators Learn about Swiss Innovation
Published by, 15th October 2014
The big lecture hall was completely full during Pascal Marmier’s (CEO of swissnex China) presentation on the Innovation Landscape of Switzerland at the Jiao Tong University on Thursday, 9 October. The audience, a group of "special" students, who are considered to become the future Innovators from China - they are the students of all three years from the SJTU-ParisTech Elite Institute of Technology (SPEIT), which is established under the cooperation of Shanghai Jiao Tong University and Paris Tech. Their demanding curriculum at the Institute starts with 6 months of intensive language classes before the rest of the classes continue to be held in French or English. The studies at SPEIT also include a compulsory stay in France, which should be at least three months.

Testing Times for English Teaching Firm as it Taps Examination Market
Published by China Daily, 10th October 2014
English learners in China who want to test their language proficiency for free can now look to Switzerland-based English training organization EF Education First, which announced on Wednesday that it will offer a standardized English test it claims is the first of its kind. After four years of research and development, EFSET, as the test is called, is designed to stand on par with such proficiency tests as TOEFL and IELTS. The test is being offered for free in order to "support ongoing tracking of a student's learning". A 50-minute EFSET can be delivered online to a tablet or a desktop device. The online test will adjust its content in response to the individual candidate's language proficiency. The results will be saved when the test ends and can be accessed anytime with a user account and password.

List of Countries under 72-hour Visa-free Transit Policy in Guilin
Published by China Daily, 10th October 2014
The 72-hour transit visa exemption policy is applicable to the following countries at Guilin Airport in China (51 in total): I. 24 Schengen countries in Europe: Austria, Belgium, Czech, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxemburg, Malta, Holland, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland. II. 13 other European countries: Russia, Britain, Ireland, Cyprus, Bulgaria, Romania, Ukraine, Serbia, Croatia, Bosnia, Montenegro, Macedonia and Albania. III. 6 American countries: America, Canada, Brazil, Mexico, Argentina and Chile. IV. 2 Oceanian countries: Australia, New Zealand. V. 6 Asian countries: Korea, Japan, Singapore, Brunei, The United Arab Emirates and Qatar.
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Engineering / Manufacturing
ABB Showcases Smart Technology at EP China 2014
Published by China Daily, 22nd October 2014
ABB showcased its full power portfolio, featuring reliable, smart and environmental-friendly specifications at the 15th International Exhibition on Electric Power Equipment and Technology (EP China 2014), the largest power and electrical exhibition in China. Among the exhibits one highlight is ABB microgrid system and energy store system, Microgrid Plus™ System and PowerStore. These systems are proven technology with more than 15 years’ stabilization in worldwide market. Microgrid is an integrated energy system intelligently managing interconnected loads and distributed energy resources and capable of operating in parallel with, or independently, from the existing utility’s grid. It has become an important developing trend in modern smart grid.

Company Special: Energy Group Diversifies and Grows Amid Market Stabilization
Published by China Daily, 17th October 2014
Mercuria Energy Group is diversifying its business in China and around the world and cooperating with Chinese partners in the renewable energy sector, according to Marco Dunand, chief executive officer and co-founder of the Swiss energy commodity trading company. Mercuria was founded on the basis of sourcing, supplying and trading crude oil and refined petroleum products 10 years ago. Now, the company is expanding its business to biofuels, natural gas and liquefied natural gas, carbon trading and base metals. In China, the company has diversified and experienced double-digit growth during the past few years.
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Bank / Finance / Insurance

UBS Opens Beijing Huamao Sub-Branch
Published by China Daily, 16th October 2014
UBS (China) Limited, UBS AG's locally-incorporated wholly foreign-owned bank, on Wednesday opened its Beijing Huamao Sub-branch - UBS's first ground-floor presence in Asia Pacific. UBS's business strategy is centered on its pre-eminent global wealth management businesses backed by its position as a leading Swiss bank, complemented by its Global Asset Management business and its Investment Bank. As the world's second-largest and Asia Pacific's largest wealth management market, China is an important market for UBS and offers many business opportunities. "UBS sees great potential for its China wealth management business and building a strong domestic franchise remains a priority for UBS," said Kathryn Shih, Head of UBS Wealth Management Asia Pacific.

Rich Have Their Eye on Structured Financial Products
Published by China Daily, 15th October 2014
Structured products will be the most popular financial instrument, and the United States will be the investment destination of choice for China's wealthy in the coming 12 months, according to a report co-released by Julius Baer Group and Bank of China Co Ltd on Tuesday. A structured product is commonly defined as a prepackaged investment strategy based on derivatives, such as a single security or securities, a basket of stocks, options, commodities, debt issuance or foreign currencies. In June, a survey was conducted, fielding 200 responses from Bank of China private banking's client base, in the form of face-to-face interviews. Their locations ranged from large metropolitan centers like Beijing, Shanghai and Shenzhen, to the central economic hub of Chongqing, to the western province of Qinghai.
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Hospitality / Tourism / Retails

Nestlé Research Symposium: Nutritional Approaches for Cardiovascular and Metabolic Health
Published by China Daily, 20th October 2014
The 25th Great Wall International Congress of Cardiology (GW-ICC) and Asia Pacific Heart Congress (APHC) 2014 are now being held in Beijing. To coincide with these important events, the Nestlé Research Centre Beijing has organized a joint symposium with GW-ICC. The symposium focuses on nutritional approaches for cardiovascular and metabolic health. Diet plays an important role in cardiovascular and metabolic diseases and dietary interventions are a complement to a therapeutic regimen. As such, experts have been invited from China and abroad to highlight the importance of nutrition and exercise in the management of cardiovascular and metabolic risks and to promote cardiovascular health. Prof. Dayi Hu, the president of the GW-ICC is giving the opening speech. The symposium is being chaired by Prof. Zhaosu Wu, the president of the China Hypertension League and Prof. Zhiming Zhu, the director of the Center for Hypertension and Metabolic Disease, the Third Military Medical University.

Nestlé Inaugurates Major Dairy Farming Institute in China
Published by, 15th October 2014
Nestlé has inaugurated the Dairy Farming Institute in Northeast China, in one of the company's biggest dairy investments that will help modernize Chinese dairy farming practices to enable farmers to meet the country's fast-growing milk demand in a sustainable manner in the years ahead. The institute, located in Shuangcheng in Heilongjiang Province, is part of Nestlé's long-running efforts to share its technical knowhow and to improve dairy farming around the world through training, responsible practices and partnering with stakeholders, including governments and universities. "We have a history of developing milk districts and the Nestle Dairy Farming Institute is an extension of this," said John Cheung, Nestle China Chairman and Chief Executive.

Grand Hyatt Beijing Wins Best Business Hotel Award
Published by, 11th October 2014
Grand Hyatt Beijing at Oriental Plaza recently clinched the highly coveted ‘Best Business Hotel’ in Beijing award at the Business Traveller Asia-Pacific Awards 2014. Regarded as one of the travel industry's most anticipated events, the annual Business Traveller Asia-Pacific Readers' Poll surveys readers mainly in Asia Pacific, both frequent business travellers and leisure travellers, voted for what they considered the world’s best business hotels and airlines. According to Mr Malcolm Zancanaro, the General Manager of Grand Hyatt Beijing, “We are thrilled to be named the ‘Best Business Hotel’ in Beijing for the fifth time by the readers of Business Traveller Asia-Pacific. These awards are highly regarded as the pinnacle of achievements recognising luxury hotels with exceptional service worldwide, and since this award is based on the direct feedback of our guests, this is truly a special recognition. It is a testament to the consistency of our service standards, and demonstrates that we are the hotel of choice for business travellers coming to Beijing. We have also embarked on a comprehensive guestroom remodelling programme, further raising our guestrooms to an exceptional standard”.
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Legal / Trade / Consulting / Services

New Chapter for KPMG’s Business Development In China
Published by, 20th October 2014
The Ministry of Finance of the People’s Republic of China (MOF) has recently approved the opening of three offices by KPMG Huazhen (Special General Partnership) in Chengdu, Xiamen and Qingdao. Localisation has been one of the basic strategies of KPMG China’s operations. The approval for the opening of the three offices shows that the localisation transformation programme has accelerated KPMG Huazhen’s development and that our perseverance and active promotion of localisation have again borne results.

Global Data & Analytics Survey 2014: Gut & Gigabytes
Published by, 19th October 2014
Modern internet and social media usage is generating more data than ever in China, with as much as 90% generated within the last two years. An increasing number of companies in China have placed big data and analytics as the corner stone to their decision-making process in order to gain and sustain a competitive edge. Read the China focus report based on the 2014 PwC Global Analytics Survey to find out the challenges executives are facing and the opportunities that are awaiting them.

Intellectual Property in China: Another Approach?
Published by, 28th September 2014
In collaboration with the Chamber of commerce and industry of the canton de Vaud and the Swiss Chinese Society (section romande), the Swiss Chinese Chamber of Commerce section romande organized a conference on the topic “Intellectual Property in China” in Lausanne on Wednesday 3 September 2014. Invited by the Chamber, Mr. Jean-Christophe Liebeskind, Head of Chinese Desk at Meyerlustenberger Lachenal and Counsel at Global Law Office, a Chinese law firm with offices in Beijing, Shanghai and Shenzhen, gave a presentation on intellectual property in China followed by a Q&A session.
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