Reader's Digest > 24 September - 14 October

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Reader's Digest, 24 September - 14 October

Swiss and Chinese Business Related News in Switzerland and China

BILATERAL RELATIONS

Switzerland and China Strengthen their Dialogue on Work
Published by admin.ch, 22nd September 2016
Following the Memorandum of Understanding signed between Switzerland and China in the field of work safety and health that came into force in early April 2016, a Swiss delegation participated in the 8th China International Forum on Work Safety in Beijing on 27 September. The Head of the Labour Division of the State Secretariat for Economic Affairs SECO, Boris Zürcher, visited China from 26 to 29 September 2016 for a series of bilateral meetings on labor and employment, and to mark the cooperation between Switzerland and China on work safety and health. Therefore, Boris Zürcher favorably accepts the invitation to Switzerland by the Chinese authorities in charge of work safety and health (State Administration of Work Safety, SAWS) and participated in the 8th China International Forum on Work Safety. The Forum was co-organized by China and the International Labour Organization (ILO). The central theme of the Forum was dedicated to the culture of prevention for work safety and health. The Forum brought together professionals in the field of work safety and health, businessmen and senior government officials from several European countries, the USA and Russia.
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BUSINESS NEWS

The Global Competitiveness Report 2016–2017
Published by weforum.org, 28th September 2016
The Global Competitiveness Report 2016-2017 assesses the competitiveness landscape of 138 economies, providing insight into the drivers of their productivity and prosperity. This year’s edition highlights that declining openness is threatening growth and prosperity. It also highlights that monetary stimulus measures such as quantitative easing are not enough to sustain growth and must be accompanied by competitiveness reforms. Final key finding points to the fact that updated business practices and investment in innovation are now as important as infrastructure, skills and efficient markets. Switzerland, Singapore and the United States remain the three world’s most competitive economies. “Declining openness in the global economy is harming competitiveness and making it harder for leaders to drive sustainable, inclusive growth,” said Klaus Schwab, Founder and Executive Chairman, World Economic Forum. The Report series remains the most comprehensive assessment of national competitiveness worldwide.

China Construction Bank Appoints SIX for Swiss Renminbi Clearing
Published by leaprate.com, 28th September 2016
China Construction Bank (CCB), China’s second largest commercial bank and the only authorized Renminbi Clearing Bank in Switzerland, announced its plans to work more closely with SIX Securities Services, the Swiss post-trade infrastructure. This cooperation has so far led to CCB and its Zurich Branch working with SIX Securities Services entities: Swiss Interbank Clearing (SIC) for Swiss Franc clearing; Swiss Euro Clearing Bank (SECB) for Euro Clearing; and SIX SIS AG for global custody & asset servicing. CCB Zurich Branch will soon carry out repo trading activities on the new Repo trading platform from SIX Repo AG which is also run by SIX Securities Services. In the future, CCB Zurich Branch also plans to seek direct membership of the SIX Swiss Exchange, lead to the potential for direct issuing in Switzerland for mainland Chinese companies to raise capital. SIX Securities Services actively supports CCB, one of the main drivers of the RMB Internationalization, in providing the Swiss financial industry with comprehensive financial products which can act as a gateway to China.

MSC Cruises Ups its Game in China with MSC Splendida
Published by seatrade-cruise.com, 28th September 2016
In a substantial boost to its China capacity, MSC Cruises is going to deploy one of its biggest ships there in May 2018. MSC Splendida joins the smaller MSC Lirica, adding the MSC Yacht Club concept and butler service to its China offerings. The 2009-built MSC Splendida, at 137,936gt, will become one of the largest ships operating in the region. The vessel can carry up to 4,363 passengers in 1,637 staterooms. Some 76% of accommodations have balconies. MSC Splendida will join MSC Lirica, which has been serving—to great success, MSC Cruises said—the Chinese market since May. The ship recently moved to Tianjin to capture the North China market during the winter season. Announcing the news in Beijing on Wednesday, MSC Cruises ceo Gianni Onorato said the ship has been one of the most popular in the fleet with Chinese and other Asian passengers cruising the Mediterranean with MSC. MSC has opened an office in Shanghai and appointed a new management and operations team based in the region as it moves to solidify its presence in the growth market.

Swiss Financial Centers Slip in Global Ranking
Published by swissinfo.ch, 27th September 2016
Geneva has dropped eight places in a ranking of financial centers and Zurich has slipped three positions but remains the second leading centre in Europe after London. London, New York, Hong Kong, Singapore and Tokyo remain the five leading global financial centers, according to the Global Financial Services Index (GFCI), published on Monday by the Z/Yen Group in London and the China Development Institute in Shenzhen. Geneva, however, fell eight places to 23rd in the survey, which is completed by financial services professionals worldwide. In Western Europe, it is fifth behind London, Zurich, Luxembourg and Frankfurt. Zurich fell from sixth to ninth position. The authors said Western Europe remained a region in flux, especially after the British vote to leave the European Union in June. The survey authors also highlighted the rapid rise in importance of the financial centers on the Chinese mainland as the power of global financial markets shifts from North America and Europe to Asia. Five Chinese cities are included in the GFCI top 50, with Shanghai, Shenzhen and Beijing ranked as the top three Chinese centers on the mainland.

How to Avoid Business Bumbles in China
Published by finews.com, 26th September 2016
A slew of Swiss banks and other foreign businesses are jockeying for business with wealthy Chinese clients. A Chinese professor reveals to finews.ch the most common mistakes in dealing with clients from the People's Republic. With heady economic growth of well over 5%, the Chinese market remains a target for foreign businesses – including Swiss banks. While most new entrants know the ins and outs of doing business in a Chinese market which isn't fully liberalized to outside investment, they tend to fall down on the soft factors, according to a well-known Chinese professor in Singapore. “You have to really get yourself not just to understand but integrate in the Chinese environment and I think most of the failure experienced by foreign business is mainly that 'I just want to do business here, but I don’t really enjoy life here,” said Jing Huang, Professor at Lee Kuan Yew School of Public Policy and ad-hoc advisor to Swiss bank UBS.

EU Approves Chinese HNA's Acquisition of Swiss Gategroup
Published by cri.cn, 23rd September 2016
The European Union (EU) regulators have greenlighted the acquisition of Swiss Gategroup by Chinese conglomerate HNA Group, the EU said on Wednesday. The European Commission, the bloc's executive body, in a statement said that the acquisition would "raise no competition concerns because of its limited impact on the market structure." HNA Group, founded in 1993, is a Chinese conglomerate encompassing core divisions of aviation, holdings, capital, tourism and logistics. Gategroup provides catering services and retail on-board aircrafts and other related ancillary activities such as on-board service equipment and supply chain and logistics solutions or management of airport lounges.
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CULTURE & SOCIETY

Uli Sigg Traces the Arc of Chinese Contemporary Art at VIFF
Published by straight.com, 29th September 2016
Chinese contemporary art has made a big impact in Vancouver over the past decade, thanks to public work by Ai Weiwei and prominent exhibitions like the Vancouver Art Gallery’s Unscrolled in 2014. It’s so well known these days, in fact, that it’s easy to forget how closed a society China was just a few decades ago, and how far underground the artists now celebrated once were. German filmmaker Michael Schindhelm puts the pieces together by focusing on one crucial westerner who helped usher the art out into the world. The Chinese Lives of Uli Sigg is the story of a Swiss businessman, and later ambassador, who was able to gain rare access to a country once as closed off as North Korea is today. Sigg went on to collect thousands of seminal works by the likes of Ai, Fang Lijun, and Zeng Fanzhi, donating most of them in 2012 to the soon-to-be-built M+ museum in Hong Kong. But the film is also the story of modern-day China, a portrait of almost unimaginable change that speaks personally to Schindhelm, who was born and raised in East Germany.

ECAL Graphic Design China Tour
Published by prohelvetia.cn, 26th September 2016
From September 2016 to March 2017, supported by Pro Helvetia Shanghai, ECAL/University of Art & Design Lausanne presents an exhibition of projects created by students of the Bachelor Graphic Design and the Master Art Direction on the occasion of the Beijing Design Week in Beijing, West Bund Art and Design Fair in Shanghai, and then travel to Hong Kong Design Institute. The Swiss university ECAL has long been recognised as a world reference in terms of, amongst others, graphic design. Be it in designing books, catalogues, magazines or posters, typography or digital projects, ECAL students are able to embrace all fields of this discipline and to masterfully perform a wide variety of assignments. This success is largely based on a policy of workshops allowing them to learn from the best Swiss or international graphic designers directly on the school premises. With this in mind, ECAL has had the good fortune of welcoming in recent years leading figures such as Ludovic Balland, Bibliothèque, Mirko Borsche, Thomas Buxo, Veronica Ditting, Europa, Johann Kauth, Jürg Lehni, Ari Marcopoulos, Maximage, Young Na Kim, NORM, OK-RM, Brian Roettinger, Hansje van Halem, Cornel Windlin and Job Wouters aka Letman.

VR Workshop with Sonja Zagermann
Published by prohelvetia.cn, 26th September 2016
The Swiss designer Sonja Zagermann shared her expertise in the field on VR in printed matters from 27 to 30 September and on 2 October in Beijing. The workshop wishes to explore and create together with Chinese experts and creative multiple ways of working on publishing in a world of new media art and digital exhibition making. Supported by Pro Helvetia Shanghai, the workshop is part of the launch of Tria – an independent publishing house based in Zurich for contemporary art. Virtual Reality is the hot new buzzword in design. Long considered the dream of geeks and techno dreamers, VR burst onto the scene in the late 1980s. Back then the technical capabilities did not match the aspirations of aficionados and it quickly died. In the intervening years the USA military, the NASA project and Walt Disney kept VR alive. Now it's back: companies like the Facebook-owned Occulus Rift and their Story Lab, Nokia, Microsoft, Samsung and a host of others are investing majorly into Virtual Reality and making it available to a the public.

Beijing Design Week 2016: UNCOVER – Independent Fashion for Independent Minds
Published by temper-magazine.com, 22nd September 2016
UNESCO in 2012 awarded the captivating capital that is Beijing the label of “international design capital”. Basked in that guiding light, Beijing Design Week serves to raise public design awareness as well as help develop a stronger design infrastructure and discourse across the city. The 2016 edition is scheduled to take off on 23 September, incessantly cutting the edge under the creative direction of Beatrice Leanza. One newbie this time around is UNCOVER, a platform for independent fashion design from and within China. A platform promoting contemporary independent fashion and apparel labels, designer collections and lifestyle products from and within China, UNCOVER links brands and designers with a broader audience through the trinity that is media, retailers and consumers. The UNCOVER LAB will be unveiled for the first time during Beijing Design Week 2016, establishing a showcase hub to bring innovation to the market via sustainable measures. UNCOVER is the brainchild of Beijing-based German designer and consultant Markus M. Schneider (of MMS, The Product Republic), Beijing-based Swiss eco-preneur Hans Martin Galliker (of the Beijing Fashion Collective and the breathtaking want-need-buy-repeat NEEMIC label), English fashion designer Stephanie Lawson (of denim brand Zodiac) and Anglo-Swiss designer and consultant Kevin Tallon (of Capitale Nord).
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GENERAL INTEREST

The FDFA is Launching an Online Desk for Swiss Nationals Residing Abroad
Published by eda.admin.ch, 5th October 2016
Since the beginning of October, Swiss nationals residing abroad have had access to various consular services via an online desk on the website of the Federal Department of Foreign Affairs (FDFA). Swiss nationals residing abroad can use the online desk to enter and modify their data or register with the Register of the Swiss Abroad, notify a change in civil status or address at any time or place. With this innovation the FDFA makes it easier for Swiss nationals residing abroad to contact and stay in touch with Swiss representations abroad. Half of humanity is expected to have access to the internet by 2020, and around 90% of data traffic will take place via the mobile devices. In light of these anticipated trends, the Federal Council adopted Switzerland's first e-government strategy as early as 2007. The strategy is designed to ensure that user-friendly and secure electronic interactions and transactions facilitate communication exchanges between government offices on the one hand and between the authorities and citizens on the other. At the same time, communication and business transactions among the federal government, cantons and communes are to be simplified.

Sino-Swiss Women's Forum
Published by sinoswisswomenforum.com, 1st October 2016
The Sino-Swiss Women Forum is a one-of-its kind event aiming at connecting women entrepreneurs, political organizations, corporations, financial institutions and communities from China and Switzerland. Taking place every year, alternately in Switzerland and China, the Sino-Swiss Women’s Forum is a non-for-profit initiative founded by women entrepreneurs with an authentic and global vision to connect people beyond cultures and empower female entrepreneurship. After the successful first 2015 edition, the Sino-Swiss Women’s Forum is proud to inform you on its further activities as the first platform for Sino-Swiss professional women. The Sino-Swiss Women’s Forum is honored to offer you the possibility to participate to the “International Summit of Women entrepreneurs 2016” jointly organized by our official partner in China, the Chinese Association of Women Entrepreneur (CAWE) together with the National School of Development at Peking University (NSD). This two-day event will gather renowned scholars, businesswomen and organization leaders from China and around the world to discuss about: Innovation, Transformation and Upgrading — Create a New Future with "She" Power. Entrepreneurs and women leaders from Switzerland are generously invited by the CAWE to participate to this event and have the exclusive chance to deliver keynote speeches about innovation in Switzerland, their experience as woman leader as well as introducing their company to the audience.

CEO Susan Horváth Leaves The SCCC to Pursue Other Interests
Published by sinoptic.ch, 28th September 2016
Ms. Susan Horváth, CEO of the Swiss-Chinese Chamber of Commerce (SCCC), will leave her position effective the end of March, 2017. Susan Horváth has been CEO of the SCCC since 1995. She has been the public face of the SCCC for 21 years as well as the driving force within the Chamber. Having steered the Chamber under several Presidents, she represented stability and continuity and it is due to her that the SCCC was able to build an excellent reputation. Ms. Susan Horváth says “The SCCC has been an important part of my life and I feel very privileged to have been able to contribute to the bilateral economic relations during the historically unique rise of the People’s Republic of China into the 21st century. Now, the time for me is right to move on and pursue other interests and to vacate my seat for a new generation.” The President and the Board of the SCCC sincerely thank Ms. Susan Horváth for her outstanding engagement and her commitment to her role as CEO. She will officially be seen off at a special event before leaving the Chamber. On the basis of its new strategic orientation, the SCCC will appoint a General Manager in due course.

TAG Heuer New Official Referee Board for Chinese Super League
Published by worldtempus.com, 27th September 2016
The new official referee board for the Chinese Super League marks another support extended to the utmost by TAG Heuer to the Chinese football development since the Swiss Avant-Garde watch maker TAG Heuer became the Official Timekeeper & Official Watch of the Chinese Super League in March this year. In order to celebrate this historical moment, TAG Heuer General Manager of Greater China Leo Poon, Brand Ambassador Li Yifeng, Chairman of the board of Chinese Football Association Super League Co., Ltd. Mr. Ma Chengquan and the Chinese football international referees Ma Ning gathered in Beijing. Li Yifeng, was wearing a TAG Heuer Aquaracer 300M Ceramic watch, completes the symbolic challenge of TAG Heuer. As the ball runs into the net, the brand-new key visual of Li Yifeng and TAG Heuer is unveiled, which, in harmony with the vibrant sports environment, perfectly reflects the spirit of “Don’t Crack under Pressure”.
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INDUSTRIES

Engineering / Manufacturing

ABB to Support Industrial Upgrading
Published by ecns.cn, 12th October 2016
ABB Group, the Swiss power and automation company, will optimize its resources to support China's industrial upgrading and take new opportunities from the digital sector in the long term, said its top executive. ABB announced earlier this month that it will shape the company's divisions into four units-electrification products, robotics and motion, industrial automation and power grids-to enhance its earning ability, as well as realizing its full potential in digital technologies. These divisions will start operating as entrepreneurial units within ABB on 1 January 2017, reflected in an enhancement of its performance and compensation model focusing on individual accountability and responsibility. Ulrich Spiesshofer, ABB's chief executive officer, said China has always been a strong and important market for ABB. The company will continue to invest in China, especially in digitalization, automation and power supply sectors.

Dec Showcasing Latest Containment Technologies at IPB 2016
Published by weixin.qq.com, 11th October 2016
Dec will be exhibiting during the IPB in Shanghai displaying its major products such as our Powder Transfer System PTS, Drum containment system DCS and our micronizer Jetmill MC One. Dec Group, will use the forthcoming IPB 2016 expo in Shanghai to showcase latest additions to its proprietary Powder Transfer and Drum Containment systems, PTS and DCS, as part of its on-going mission to help reduce risks in the pharmaceutical and fine chemical industries. The Dec stand, at Booth 1230 in the International sourcing Hall 5.0 at Shanghai Convention & Exhibition Center, will stage live demonstrations of the PTS Powder Transfer System flagship product, showing various ways in which it can provide cleaner and more contained links between different powder handling processes along with safe reactor loading.

Novartis Reshapes Research, Closes Some Swiss, Chinese Units
Published by reuters.com, 5th October 2016
Novartis is closing some of its research operations in Switzerland and China and cutting 175 jobs, part of the Swiss drug maker's effort to centralize control over its drug discovery programs and contain costs. Novartis, which employs 120,000 globally, is also relocating its tropical disease research arm from Singapore to California. The Basel-based company is consolidating research oversight within its Swiss headquarters and the Novartis Institutes for Biomedical Research (NIBR) near Boston, now headed by Jay Bradner. "The creation of a unified early discovery research group based in Basel, Switzerland and Cambridge, Massachusetts, will be closely integrated with NIBR's drug discovery teams around the world," Novartis said in a statement. Novartis also will shut down its Shanghai biologics group, shedding its 18 positions, but will continue with the bulk of activities at its newly opened USD 1 billion campus in the Chinese city where 500 people work in research and development. "The NIBR research and development center in Shanghai is established to discover and develop new therapies that address the unmet medical needs of patients in China," a spokesman said.

Chinese Takeover of Syngenta Awaits EU Clearance
Published by agriland.ie, 27th September 2016
Chinese state-owned Chemchina has sought approval from the European Commission for its USD 43 billion takeover of Swiss Company Syngenta. The Chinese state-owned chemical company filed papers with the European Commission on September 23 to give the take over the all clear. The decision on the proposed takeover is expected no later than 28 October, when the Commission will decide to clear the deal, with or without concessions or open it up for a full investigation. In February, the Chinese chemical offered to buy the company at USD 465 (EUR 421.6) per ordinary share, a move which Syngenta’s Board of Directors unanimously recommended to its shareholders. At the time, the Board said that the transaction would enable further expansion of Syngenta’s presence in emerging markets and notably in China. The takeover bid moved a step closer in August, when Chemchina received clearance from a US security panel on its USD 43 billion takeover of Swiss agri-business Syngenta. The Committee on Foreign Investment in the United States (CFIUS) gave clearance to Chemchina on the acquisition.

Sale of Factory Premises in China with Positive One-off Effect in 2016
Published by zehnder-systems.com, 24th September 2016
The Zehnder Group is expecting a positive one-off effect on its operating result (EBIT) for the 2016 financial year amounting to about EUR 40 million, after completing the sale of its former factory premises in China. The transfer of use and risk to the buyer is intended to take place before the end of 2016. The Zehnder Group took its new development and production plant in Dachang (Hebei Province) into operation at the end of 2013. A contract of sale was signed at the end of 2014 for the old factory premises in Beijing and the associated right to use the land; this asset was no longer required for production. Total payments amounting to about EUR 14 million had been paid in installments up to January 2015, although the remaining payments remained out-standing. New negotiations resulting from the payment delays combined with a positive trend in real estate prices in China led to the sale price being higher than originally agreed. It is expected that the transfer of use and risk as well as the authority to dispose can be passed to the buyer by the end of 2016. The positive one-off effect expected for the 2016 financial year on the operating result (EBIT) is about EUR 40 million, while the effect on the net profit will be around EUR 25-30 million (before minority interests).
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Bank / Finance / Insurance

Credit Suisse Hires Manager from UBS for China Investment Banking
Published by finews.com, 11th October 2016
Credit Suisse is adding more urgency to the development of its corporate banking in China. It has attracted a top manager from Swiss rival UBS for the purpose. Credit Suisse (CS), Switzerland's second-biggest bank, has appointed a new head of investment banking in China, the emerging economic superpower. Honggui Li has been put in charge of China investment banking and capital markets, according to an internal memo obtained by «Reuters». Honggui Li joins CS from UBS, the bank's biggest rival. The manager was deputy head of corporate client solutions in the People's Republic. His main brief will be to strengthen the relations to the bank's corporate clients in China and to improve the cooperation with other divisions within the company.

UBS Exited Wanda Deal over Compliance
Published by ft.com, 8th October 2016
UBS walked away from a USD 4.4 billion deal to take a Dalian Wanda unit into private ownership despite initially proposing the move, clearing the way for a rival Chinese bank to take the lead financial adviser role. UBS withdrew from the take-private of Wanda’s commercial properties business after it became uncomfortable with the structure of the transaction, according to people close to the matter. Hong Kong rules require banks to be satisfied with the sources and availability of funds when offers are made. Wanda also approached at least one other foreign bank about working on the deal but was turned down, leaving China’s CICC to run the process single-handedly.

UBS, JPMorgan Can’t Match China Bank IPOs
Published by sltribe.com, 27th September 2016
Jamie Dimon and Sergio Ermotti starred in the roadshow promoting Postal Savings Bank of China Co.'s share sale. Yet the executives' participation in this year's biggest initial public offering also serves as a reminder that investing in Chinese banks isn't what it used to be. When China's fifth-largest bank priced its USD 7.4 billion share sale last week, UBS and JPMorgan snared 5% paper gains on investments made nine months earlier. The shares will start trading in Hong Kong on Wednesday after being priced near the bottom of a marketed range. Bank of America Corp. and Goldman Sachs Group Inc. more than doubled their money with China Construction Bank Corp. and Industrial & Commercial Bank of China Ltd. stakes respectively in 2005 and 2006 before those firms' shares started trading. History is failing to repeat itself as investors fret at the risks weighing down Chinese lenders.
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Hospitality / Tourism / Retails

Nestlé Research Centers Create Custom China Restaurant Products
Published by China Daily, 6th October 2016
A skilled chef is hard to find and hire in China's culinary businesses. Nestlé's research team has been working on how to simplify and offer standard cooking procedures for Chinese restaurants that enable chefs, even those with less experience, to perform well in the kitchens. Chinese restaurants that aim for the mass consumers look for more efficient but less costly operations. High-end and luxury dining-out places have suffered from a sharp slowdown as a result of the government austerity campaign. Nestlé Professional, a business unit in the Nestlé Group, focuses on providing products, solutions and services for the out-of-home industry. It sees the industry's challenges as an opportunity and has opened its second customer engagement center in Shanghai recently, after its first one in Beijing. The new facility serves as a milestone for Nestlé Professional to further explore China's food and beverage market, said Nestlé's executive.
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Legal / Trade / Consulting / Services

Sino-Swiss Trade and Direct Investments and M&A in Switzerland
Published by VISCHER.com, 24th September 2016
While the main area of interest for the first generation of Chinese foreign direct investments ("FDI") had been natural resources, for the second generation access to industrial high technology and world-wide markets has become almost as important. This is where Switzerland comes into the picture. Accordingly, the number of Chinese controlled, considerably sized companies or branches in Switzerland has increased from 6 in 2004 to over 80 in 2015. Besides the fact that Switzerland has low tax rates in comparison with other European countries we have identified eight key factors which we believe make Switzerland a prime choice for Chinese second generation FDI in Europe: Factor 1: Switzerland is economically integrated in the European Union; Factor 2: Switzerland is the first and so far only continental European country that has concluded a Free Trade Agreement with China; Factor 3: Switzerland has excellent high tech industries; Factor 4: Switzerland has excellent conditions for Chinese European headquarters; Factor 5: Switzerland treats foreign investors almost as domestic investors; Factor 6: Switzerland imposes no restrictions on cross border movements of capital; Factor 7: Switzerland offers competitive tax rates in Europe; Factor 8: the new Sino-Swiss double taxation treaty and the 2012 Hong Kong-Swiss double taxation treaty.

3rd Swiss Theme Week opens in Zhenjiang on 15 October
Published by swisscenters.org, 30th September 2016
The third Swiss Theme Week is set to the dates 15th to 21st October this year, to open in the Sino-Swiss Zhenjiang Ecological Industrial Park (SSZEIP) in Zhenjiang, Jiangsu, with the year theme “Swiss Boutique Exhibition”. The SSZEIP has positioned itself as the gateway to China for high-quality Swiss products, with tremendous support from bilateral governments and partners. The dedicated cross-border e-commerce platform, BYREALS, along with offline experience stores, has successfully helped over 1000 different kinds of characteristic Swiss products to expand the Chinese market. For business participants and artists, it’s a unique opportunity to present products and works to a wide audience. The Development Zone Administrative Committee has also invited contemporary Chinese young artists with outstanding artworks, in an effort to facilitate mutual artistic understanding between the two countries.

Joint Event on Innovation by Swiss SME China and Zhejiang Province
Published by sim.biz, 30th September 2016
On 22 September 2016, the joint event on innovation was held at Franke Kitchen World Shanghai with over 60 participants. The event was organized by Swiss SME China and Zhejiang Provincial Department of Commerce Shanghai office to present the innovation developments and achievements both from Zhejiang, China and Switzerland, and to develop the network for both parties in the purpose of exploring new collaborations in innovation and incubation. It was opened by Mr. Michael Lehmann, General Manager of sim (selective international management) – the Representative of Swiss SME in China with a welcome speech. Mr. Ma Jianguo, Deputy Director-General of Zhejiang Provincial Department of Commerce and Mr. Pascal Marmier, Vice Consul General of Switzerland in Shanghai and CEO of Swissnex were invited to introduce the innovation developments in both Zhejiang Province, China and Switzerland.

sim to Launch After-Sales and Maintenance Service Hub
Published by sim.biz, 29th September 2016
Many Swiss and European SMEs struggle with their After-Sales and Maintenance Services in China. There was, up to now, never a fully satisfying solution: Fly-in Fly-out services are costly, slow and often disproportionate in effort and time involvement of a senior Engineer. Local employment of a dedicated person aims in many cases over the top, as the amount of service and maintenance interventions don't justify a 100% employment. sim now offers the pragmatic solution many companies were looking for: the ASM Hub, which operates with Swiss Engineers based in Shanghai, that can intervene for and on behalf of you on a hourly basis. This means, your company immediately can offer your clients ASM Services in China without your own legal structure or big investment.

A New Big Data Era for Tax Administration - What to Expect from China's Golden Tax III Project?
Published by pwccn.com, 24th September 2016
In 2016, the implementation of the Third Phase of the Golden Tax Project (Golden Tax III) in Beijing, Shanghai, Shenzhen and Guangdong, etc. has been completed and it is entering into an accelerated stage to cover the other locations in China. Under the plan of the State Administration of Taxation (SAT), the Golden Tax III will be rolled out nationwide within 2016. The Golden Tax III aims to achieve consistent tax administration backed by information technology and processing of tax data in a highly efficient manner nationwide. As such, it will not only transform the tax authority's operating system, but will consequently alter taxpayer's tax compliance procedures as well. Upon the implementation, an improved system and optimized procedure will help the tax authorities to tighten their administration of taxpayers. The Golden Tax III can automatically detect tax risks which were being ignored before and will result in penalty and impact the taxpayer's credit on tax collection.
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