Sino-Swiss Business News
Every year, Lausanne-based IMD business school publishes its global competitiveness ranking. Switzerland climbed from 5th last year to 4th behind Singapore, Hong Kong and the US. Venezuela (63rd) was last. The ranking, established in 1989, incorporates 235 indicators and takes into account a wide range of “hard” statistics such as unemployment, GDP and government spending on health and education, as well as “soft” data from a survey of business leaders covering topics such as social cohesion, globalization and corruption. This information is used to calculate economic performance, infrastructure, government efficiency and business efficiency measures to give a final score for each country. Switzerland made the top 5 for government efficiency (2nd) and infrastructure (2nd).
Chinese telecoms giant Huawei plans to invest heavily in research in Switzerland, it says. This would create about 1,000 new research jobs, Huawei deputy director for Switzerland Felix Kramer told Swiss television SRF. He said discussions were under way and there was no timetable yet. Kramer said the focus would be on skills where Switzerland is a leader and which are relevant for Huawei in the medium term. “We are particularly looking for this expertise in the fields of physics, IT, nanotechnology, science of materials and other sciences,” he told SRF, adding that the firm also envisages “forms of interdisciplinary cooperation”.
Swiss Re’s Beijing arm has partnered with WeBank, an online lender owned by Chinese investment comglomerate Tencent, to research the potential application of new artificial intelligence (AI) models in reinsurance, according to Shine. The parties signed a Memorandum of Understanding (MoU) to cooperate on federated learning, a new encrypted and distributed machine learning approach that enables training for joint machine learning on decentralised data. Swiss Re and WeBank will work together to explore how the technology can help address the efficiency challenges imposed by data silos, where only one group in an organisation can access a set of data.
From February 4th to 20th, 2022, the next Winter Olympic Games will take place in Beijing, followed by the Winter Paralympics from March 4th to 13th. To capitalize on the events, the Swiss Federal Council has decided in a recent meeting to promote Switzerland in China through this platform, according to the Swiss Embassy in China on May 1st. As part of a one-year campaign beginning in 2021, the House of Switzerland (HoS), which is a mobile exhibit of Swiss design, will travel to various cities across China to showcase the diversity of Switzerland with partners from business, tourism, science and culture.
Global insurance and reinsurance giant Swiss Re has signed a new Cooperation Framework Agreement with China Pacific Insurance (Group) Co., Ltd., deepening ties within the important country. Swiss Re has long highlighted China as the likely source of significant growth in insurance and reinsurance premiums for the firm and has been active there for many years. During that time the company has cooperated with Chinese domestic market insurer China Pacific Insurance a number of times, on initiatives ranging from education to specific parametric insurance products.
Swiss President Ueli Maurer has been received by the Chinese president, Xi Jinping, for a state visit at the end of a week-long visit to China. The talks on Monday focused on strengthening relations, notably on economic and finance matters, according to a government statement. Bilateral ties are at a “historic high in terms of frequency of visits and the range of common topics” covering finance, taxes, science and human rights, stated Maurer. Both sides signed a declaration of intent to boost cooperation on trade, investment and finance under the so-called Belt and Road Initiative (BRI).
Swiss exchange operator SIX and its Shanghai counterpart have agreed to intensify their cooperation during a visit of Swiss Finance Minister Ueli Maurer to China. A Swiss delegation led by Ueli Maurer, the finance minister of Switzerland, visited the stock exchange of Shanghai on Tuesday. SIX, the Zurich-based stock exchange operator, and Shanghai Stock Exchange renewed a memorandum of understanding with the intention to further their collaboration which was initiated in 2015. The document underpins the relationship between China and Switzerland that has intensified since the signing of a free trade agreement in 2013 and currency agreement between the central banks of the two countries in 2014, SIX said in a statement on Tuesday. The memorandum of understanding envisages to further intensify the cooperation between the two financial centers and to assess the feasibility of listing securities such as depository receipts on respective markets in the near future. This would allow companies listed at either exchange to tap into each other’s liquidity pools.
The Asian country is once again the top export market this year, as the ranking by Switzerland Global Enterprise in cooperation with the KOF Swiss Economic Institute at the ETH Zurich shows. Joining China on the winners’ podium are the USA and Germany, who retain second and third place respectively. Alberto Silini, Head of Consultancy at Switzerland Global Enterprise, maintains: “These three countries are already among the most important target countries for Swiss exporters. The ranking of the top export markets in 2019 underscores their attractiveness and great potential for Swiss companies.” Nevertheless, he advises not rushing into these countries and preparing thoroughly: “It is essential to carry out a rigorous market and competition analysis, and also to familiarize oneself with cultural particularities. This is obvious in culturally distant countries such as China – in the USA or Europe, on the other hand, this challenge is often underestimated. We support Swiss and Liechtenstein SMEs in this process and help them to successfully master and expand their market entry throughout the world.”
Dr. Jean-Jacques de Dardel, Switzerland’s Ambassador to the People’s Republic of China, Mongolia and the Democratic People’s Republic of Korea (DPRK), bid farewell to his counterparts, partners and colleagues at his Beijing residence on February 22nd. His departure in early March follows five years of ambassadorship in the capital. Taking office in March 2014, Ambassador […]
Published by shine.cn, November 7th 2018 The Swiss National Pavilion, with its “LiveMap” concept especially designed for the China International Import Expo, was unveiled on Tuesday at the National Exhibition and Convention Center Shanghai. Secretary of State for Economic Affairs Marie-Gabrielle Ineichen-Fleisch, and Swiss Ambassador to China Jean-Jacques de Dardel, who are leading a high-level […]