Viewing posts categorised under: Business in English

Switzerland Heads Again the Ranking of the Most Innovative Countries

by eggplant in Business in English, Shanghai

Published by startupticker.ch

China broke into the world’s top 20 most-innovative economies as Switzerland retained its number-one spot in the Global Innovation Index (GII) ranking published annually by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO). Now in its 11th edition, the Global Innovation Index (GII) is a detailed quantitative tool that helps global decision makers better understand how to stimulate the innovative activity that drives ecomomic and human development. The GII ranks 126 economies based on 80 indicators, ranging from intellectual property filing rates to mobile-application creation, education spending and scientific and technical publications. Eleven of the top 20 innovating economies come from Europe, including the top three: Switzerland (1st), the Netherlands (2nd), and Sweden (3rd). Switzerland earns the top position in the GII for the eighth consecutive year. It ranked first in various patent and IP-related indicators, as well as second in high- and medium-high-tech manufacturing production. It is among global leaders in R&D spending and quality of local universities. China’s number 17 ranking this year represents a breakthrough for an economy witnessing rapid transformation guided by government policy prioritizing research and development-intensive ingenuity. While the United States fell back to number six in the GII 2018, it is an innovation powerhouse that has produced many of the world’s leading hi-tech firms and life-changing innovations.

Read more

Geneva Chamber of Commerce Partners with SRCIC to Consolidate Ties under B&R

by eggplant in Business in English, Shanghai

Published by srcic.com

On 5 July 2018, Geneva Chamber of Commerce, Industry and Services signed a strategic partnership MoU Thursday in Shanghai with Silk Road Chamber of International Commerce (SRCIC) for enhancing economic and innovative cooperation. Both parties agreed to forge a partnership to boost development in countries along the Belt and Road. Mr. Vincent Subilia, deputy director-general of the Geneva Chamber, said the agreement would feature a robust catalyst for growth to benefit the chamber members. “Geneva’ s and Swiss’ companies would play a more active role in the Belt and Road Initiative,” Subilia added. Ms. Tian Xiaohong, deputy secretary-general of SRCIC, said Geneva not only embraced many companies in high-end industries but gathered resources from all over the world as an important international city. The MoU was one of several agreements signed during a 10-day visit to China by a Geneva business delegation composed of government officials and entrepreneurs.

Read more

Major Chinese Bank Opens Branch in Zurich

by eggplant in Business in English, Shanghai

Published by s-ge.com

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 “strengthens the importance of the Zurich financial centre and is a further highlight of the canton’s commitment to promoting trade relations with China,” said Carmen Walker Späh, 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 bank’s 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.

Read more

Switzerland Remains Biggest Offshore Wealth Centre

by eggplant in Business in English, Shanghai

Published by swissinfo.ch

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.

Read more

Swiss Cities of Zurich, Geneva Remain World’s Most Expensive: Survey

by eggplant in Business in English, Shanghai

Published by xinhuanet.com

Zurich and Geneva are still the world’s two most expensive major cities, the annual rankings of 77 metropolitan areas by Swiss bank UBS showed. Egypt’s capital Cairo is the cheapest, the survey found. The two Swiss cities beat New York, Oslo and Copenhagen as revealed in UBS’s 2018 “Cost of living in cities around the world” survey. Zurich is also the most expensive place in the world to party on Saturday night and it has often been viewed as neck and neck with Geneva cost wise. But, “the biggest difference can be found in services, such as haircuts, an hour of household help, dry cleaning, language classes etc., where Zurich is 20% pricier on average than Geneva,” said the survey. UBS based its calculations on a basket of 128 goods and services representing the spending habits of a three-person European family — with separate data sets including and excluding rent, the single largest cost for most people. Zurich and Geneva topped both data sets, although the difference with basis city New York was greater when rent was excluded. In terms of price levels, Tokyo was the only Asian city in the top 10, coming in sixth, while its earning level ranked 17th and its purchasing power 20th. However, in a subset of data for 11 big cities (including Zurich but not Geneva), UBS looked at where millennials (those born after 1980) would be best off to buy a package of typical must-have goods including an Apple iPhone, a laptop and a Netflix subscription. Expensive Chinese city Hong Kong was the surprise winner for the study authors, but they said Zurich was another surprise.

Read more

Your Swiss Business Platform in China

SwissCham China has roughly 600 company members. Our Chamber maintains a strong relationship with the Embassy of Switzerland, Swiss Global Enterprise, Swissnex and Switzerland Tourism. As the representative of the Swiss companies established in China, our goal is to help you to increase your business and visibility, especially amongst the Sino-Swiss business community.

Become A Member

Sign Up For Our Newsletter

Latest News

August 15, 2019
Published By bloomberg.com in Engineering / Manufacturing
August 15, 2019
Published By mnetax.com in Bilateral Relations
August 14, 2019
Published By chinadaily.com.cn in Engineering / Manufacturing
August 7, 2019
Published By swissinfo.ch in Culture & Society
August 6, 2019
Published By telegraph.co.uk in Business