Chinese Embassy to Switzerland Held a Visit for Swiss College Students

The Chinese Embassy to Switzerland held a visit for Swiss students and invited close to 50 teachers and students from 6 Swiss universities of Applied Science and Artsto the Embassy as guests. The Chinese Ambassador Mr. GengWenbing attended the event and delivered a speech. During his speech, Ambassador Geng warmly welcomed the guests. He briefly […]

Major Chinese Bank Opens Branch in Zurich
Industrial and Commercial Bank of China has opened a branch in Zurich, making it the second major Chinese bank after China Construction Bank to establish a presence in the Zurich financial centre. The branch of Industrial and Commerce Bank of China (ICBC) was officially opened in Zurich on Thursday evening. In addition to ICBC president [...]
Zurich Insurance’s Asia Plans

Switzerland’s largest insurer has blown hot and cold in Asia and China in recent years. The insurer’s top man in Asia, Jack Howell, has made clear that Zurich is keen to jump back into the mainland China market, a full five years after offloading New China Life. The remarks represent a pledge to remain in Asia, after reports that Zurich was seeking a partial or full exit. Does Zurich view the 2013 sale as a mistake, then? Not exactly, according to Zurich Chairman Michel Lis. ÒIf you have an outstanding portfolio, but you can’t establish or deepen contact with your clients, then a sale is an option,Ó he told Swiss daily Neue Zuercher Zeitung. Zurich has been a quiet acquirer, snapping up Macquarie’s retail life insurance protection arm in Australia, MAA Takaful Berhad, a sharia insurance business in Malaysia, and Cover-More, an Australian travel insurer. Last year, Zurich posted a more than 42% drop in pre-tax profit in property and casualty insurance to USD 155 million when reserves from previous years fell away. Its life business hiked profit by more than 73% to USD 132 million. For comparison, Zurich’s overall pre-tax profit is USD 3.8 billion. While Howell told the South China Morning Post in January that Zurich would love to get back into China, Lis said that Asia is more than the economic juggernaut. ÒChina is a key part of our strategy in Asia, but it isn’t the only market we’re looking at.Ó

Major Chinese Bank Opens Branch in Zurich

Industrial and Commercial Bank of China has opened a branch in Zurich, making it the second major Chinese bank after China Construction Bank to establish a presence in the Zurich financial centre. The branch of Industrial and Commerce Bank of China (ICBC) was officially opened in Zurich on 21 June. In addition to ICBC president Shu Gu and a representative from the China Embassy in Switzerland, Peizhong Chen, other dignitaries to attend the opening included Federal Councillor Ueli Maurer and Swiss National Bank president Thomas Jordan. The business development unit of the Office for Economy and Labour at the Canton of Zurich assisted the bank in establishing its new branch. The move Òstrengthens the importance of the Zurich financial centre and is a further highlight of the cantonÕs commitment to promoting trade relations with China,Ó said Carmen Walker SpŠh, Head of the Department for Economic Affairs. ICBC is the largest and highest valued bank in the world with over 450,000 employees. The Swiss ICBC branch will be headed by Peichen Chen, who previously served as vice chairman of the bankÕs operations in Pakistan. After China Construction Bank (CCB), ICBC is the second Chinese financial institution to establish itself in the Greater Zurich Area. CCB opened a branch in Zurich in October 2015, where it now has around 33 employees.

Swiss Designers Eye Chinese Market With Their Unique Style

While Switzerland is mostly known in China for its luxury watches, young Swiss designers are also looking to build their names here. So, InnoFashion 2017, an event that celebrates fashion, design and textile innovation in China and Switzerland, was recently held at the Swiss embassy in Beijing. As for the growing links between the two […]

Clariant Starts Up New Additives Production Facilities in China

Published by plasticsnewseurope.com, 20th Jun 2018 in category Engineering / Manufacturing in English
Clariant AG has opened two new additives facilities in Zhenjiang, China, the Muttenz, Switzerland-based chemicals company announced 20 June. The new facilities, which will be producing synergistic additive solutions AddWorks and micronised waxes Ceridust for plastics, coatings & ink industries, are part of a multi-million-franc investment Clariant announced last year. These will add to the company’s offerings of customised solutions for the plastics, coatings & ink industries. “This completed investment… marks our commitment to expand capability and capacity in China, one of the most important strategic markets for Clariant,” said Christian Kohlpaintner, member of Clariant’s executive committee, at the opening ceremony. According to Kohlpaintner, the Swiss chemicals giant is now pursuing “a dedicated strategy” aimed at increasing and sharpening the focus on China. The additional local production capacity in China, said Clariant, will allow to provide “more tailored solutions at shortened lead times”.

Clariant Starts Up New Additives Production Facilities in China

Clariant AG has opened two new additives facilities in Zhenjiang, China, the Muttenz, Switzerland-based chemicals company announced 20 June. The new facilities, which will be producing synergistic additive solutions AddWorks and micronised waxes Ceridust for plastics, coatings & ink industries, are part of a multi-million-franc investment Clariant announced last year. These will add to the companyÕs offerings of customised solutions for the plastics, coatings & ink industries. ÒThis completed investmentÉ marks our commitment to expand capability and capacity in China, one of the most important strategic markets for Clariant,Ó said Christian Kohlpaintner, member of Clariant’s executive committee, at the opening ceremony. According to Kohlpaintner, the Swiss chemicals giant is now pursuing Òa dedicated strategyÓ aimed at increasing and sharpening the focus on China. The additional local production capacity in China, said Clariant, will allow to provide Òmore tailored solutions at shortened lead timesÓ.

Switzerland Remains Biggest Offshore Wealth Centre

The stock market boom boosted personal financial wealth around the globe by 12% last year – to the benefit of Switzerland. It is still the world’s biggest centre for managing offshore wealth at USD 2.3 trillion (CHF 2.3 trillion). Figures revealed in a Boston Consulting Group report published on 14 June put the country ahead of Hong Kong (USD 1.1 trillion) and Singapore (USD 900 billion). The Swiss sum is the equivalent of almost one third of all global overseas wealth. The two Asian centres have grown at yearly rates of 11% and 10% respectively over the past five years, compared with the 3% rate of Switzerland. “Over the next five years, offshore wealth seems likely to continue growing at a (compound annual growth rate) of roughly 5% per year,” the report stated. Large wealth managers including Swiss banks UBS and Credit Suisse are increasingly looking into Asian market because Swiss banking secrecy has been weakened.

Switzerland Remains Biggest Offshore Wealth Centre

The stock market boom boosted personal financial wealth around the globe by 12% last year Ð to the benefit of Switzerland. It is still the worldÕs biggest centre for managing offshore wealth at USD 2.3 trillion (CHF 2.3 trillion). Figures revealed in a Boston Consulting Group report published on 14 June put the country ahead of Hong Kong (USD 1.1 trillion) and Singapore (USD 900 billion). The Swiss sum is the equivalent of almost one third of all global overseas wealth. The two Asian centres have grown at yearly rates of 11% and 10% respectively over the past five years, compared with the 3% rate of Switzerland. ÒOver the next five years, offshore wealth seems likely to continue growing at a (compound annual growth rate) of roughly 5% per year,Ó the report stated. Large wealth managers including Swiss banks UBS and Credit Suisse are increasingly looking into Asian market because Swiss banking secrecy has been weakened.

China and Switzerland Conduct Human Rights Dialogue

The 16th round of human rights dialogue between Switzerland and China took place from 11 to 12 June in Beijing. The discussions, held in confidential session, allowed an open and mutually critical debate to take place on national and international human rights issues. The focus was on the judicial and penal system and minority rights. The priority topics discussed in this year’s round of dialogue were the judicial and penal system and the rights of minorities. Switzerland expressed its deep concern over the criminal prosecution of lawyers and human rights defenders and the physical and psychological harassment and mistreatment of their family members. A number of individual cases illustrating these concerns were raised during the discussions. An extensive discussion was held on the death penalty. Women’s and disabled people’s rights were also discussed. The protection of minority rights in Tibet and Xinjiang were also raised critically. Switzerland specifically stressed the issue of the worsening human rights situation in Xinjiang and the serious human rights violations in ‘re-education camps’ where hundreds of thousands of Uyghurs are detained. The dialogue also covered both countries’ engagement at the multilateral level. Switzerland also recalled the mandates of the UN human rights mechanisms, in particular the UN Human Rights Council, and the importance of civil society participation in this and other international bodies.

 

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