Sino-Swiss Business News
The Nasdaq and Hong Kong Stock Exchange-listed company is dedicated to becoming a global leader in the discovery, development and commercialization of innovative, molecularly targeted and immuno-oncology drugs for the treatment of cancer. From its new location in Basel, BeiGene will manage its European clinical trial operations and prepare for the potential launch of its drug candidates outside of Asia. The new presence marks another milestone for BeiGene on its way to becoming a leading global bio-pharma company. Access to a large and highly skilled talent pool, a business-friendly environment and close proximity to the European market were key drivers of BeiGene’s decision to establish operations in Basel. Basel is home to several of the world’s leading oncology companies and a vibrant biotech hub. Many global life sciences companies manage their commercial activities from Basel. BeiGene has a global team of over 1,300 employees, including more than 500 people in its clinical team in China, the United States and Australia. The company has offices in China in Beijing, Guangzhou, Shanghai and Suzhou; in the United States in Cambridge, MA, Ridgefield Park, NJ, and Emeryville and San Mateo, CA; and in Europe in Basel, Switzerland.
Mr. Philippe Praz, the new Consul General of Switzerland, has arrived in Guangzhou to start his tenure. In his welcome remarks, Consul General Philippe Praz emphasized that the relations between Switzerland and China are intense, diversified and expanding rapidly. For him and the entire team, it is a special privilege to facilitate exchanges between Switzerland and the dynamic southern China region, acting as a bridge between the land of the Panda and the land of the St. Bernard. Consul General Philippe Praz was the Director of the Swiss Business Hub Brazil before this posting. On September 14, 2021, Consul General Phillippe Praz inaugurated the opening of the Constructive Alps exhibition, organized by this Consulate General at V Park in Guangzhou. In his opening speech, he stressed that, the idea behind this exhibition was to acknowledge the efforts of architects and building-owners who took into consideration the impacts that construction has on the enviroment. The Consul General pointed out that innovation and sustainability are two of the most important characteristics of Switzerland and are in its DNA. Swiss architects integrate them into their architecture. To meet these environmental challenges, Swiss architects are actively seeking efficient solutions.
In response to increased demand, Enics announces expansion of its manufacturing site in Suzhou, China. The high-volume electronics manufacturing site serves both Chinese and international customers. Electronics Manufacturing Service company Enics is announcing expansion of one of its largest manufacturing sites in Suzhou, China. “Responding to increased demand, we are expanding our floor space by 50%, to over 22.000 square meters total still within 2021. The expansion space, adjacent to Enics’ currents manufacturing site in Suzhou, will house both warehouse space, as well as new assembly lines and certain function testers” tells Enics’ Vice President, Asia Jane Liu. “This expansion to a ready-constructed space enables fast increase of our capacity and smooth integration with our already existing operations in Suzhou.” Enics manufacturing site in Suzhou provides high-volume electronics manufacturing with new product introduction (NPI) and testing development services to both Chinese, as well as international customers. The highly automated manufacturing site currently employs 500 people, and takes pride in its high performance in delivery, quality and cost-competitiveness.
Worg Pharmaceuticals has opted to establish its European headquarters at the site Allschwil of the Switzerland Innovation Park Basel Area. The Chinese biopharmaceutical company develops innovative therapies to treat allergies and autoimmune diseases. The Switzerland Innovation Park Basel Area will become the hub for the European activities of Worg Pharmaceuticals AG. Founded in 2018, the Chinese biopharmaceutical company is headquartered in Hangzhou and specializes in the development of innovative therapies to treat allergies and autoimmune diseases. The company is led by a management team from China, the USA and Europe. Business activities in Europe will, according to the company, include both drug discovery and the preclinical and clinical development of the global Worg portfolio. A team of top-class researchers in the fields of chemistry and biology will be formed with the aim of establishing extensive research collaborations with academic institutions across Europe. “Our goal is to bring an IND (Investigational New Drug) candidate onto the market every year”, Worg explains in its company profile.
Swiss skincare, beauty and wellness brand Cellcosmet launched yesterday at Hainan Tourism Duty Free Shopping Complex in Sanya, marking the high-end skincare label’s first physical store in China.
Hainan Tourism Duty Free Shopping Complex is operated by licence holder Hainan Tourism Investment Duty Free Co (HTDF), which opened the store in downtown Sanya on 30 December last year. As reported, during the past month the retailer has introduced a wide array of fashion and high-end brands. It has added 59 brands to its cosmetics and fragrance zone, ranging from niche cult favourites to high-end names. Since opening, Hainan Tourism Duty Free Shopping Complex has attracted more than 700 international and domestic brands, covering 45 offshore duty free categories. Luxury skincare brands include La Mer and La Prairie. The Cellcosmet launch ceremony on the fourth floor of the retail complex was attended by HTDF Chairman and General Manager Xie Zhiyong, Cellcosmet China General Manager Zhang Yong and Deputy General Manager Sun Yahong, along with other senior executives.
The Chinese life sciences firm Hengrui Pharma will establish a research and development center in Zurich. According to a press release issued by Steiner AG, the group has decided on Manufakt8048 for its new location, a business park concept which was recently opened this summer and developed by the general contractor. Here, Hengrui Europe Biosciences AG will rent premises covering a total area of roughly 1,260 square meters, the press release explains. “Greater Zurich is the ideal hub for our company’s technical development but also to further advance in the field of life sciences”, comments Slavoljub Milosevic, Vice President, Head of European Research Center, Biologic Drug Discovery at Hengrui Europe Biosciences AG. He adds: “The wealth of talent as well as the high concentration of innovative companies, universities and research institutions have strengthened our decision to establish our company here”. Hengrui is already represented in Switzerland: Hengrui Europe Therapeutics AG, its European headquarters, is based in Basel.
The Jungfrau Region in Switzerland is looking forward to receiving more Chinese tourists, said Jungfrau Railways CEO Urs Kessler during a recent interview with Xinhua. A well-known scenic spot and snow sports resort, the Jungfrau Region is located in central Switzerland. At 4,158 meters above sea level, it is one of the main summits of the Bernese Alps. Its beautiful glaciers and snow scenes attract tourists from all over the world, and in 2001, UNESCO listed the Swiss Alps Jungfrau-Aletsch as a World Heritage Site. In recent years, Kessler said, Jungfrau Railways has received a large number of Chinese tourists, especially in 2019 before the outbreak of the COVID-19 epidemic. Jungfrau Railways offers an important means of transportation for tourists. Construction began on the pioneering project in 1896, and was completed in 1912. With a total length of 9.3 kilometers, the last station on the line, Jungfraujoch — Top of Europe — is 3,454 meters above sea level, making it the highest railway station in Europe.
After years of reticence to sustainable investing in Asia, adoption is beginning to pick up amongst wealth clients at UBS due to a myriad of drivers including growing awareness, product innovation and market volatility in China. In the last six quarters, UBS Global Wealth Management has witnessed a sharp acceleration in the adoption of sustainable investing in the region. As of the first half of this year, client assets in sustainable investments reached USD 4.5 billion in Asia Pacific – a 350% surge compared to the start of 2020. The number of clients that have invested in sustainable investment mandates or funds have also grown 140 percent over the last 12 months. One key driver of demand is the growing awareness about sustainable investing and the key related areas of real-world impact. “With everything that is going on around climate change, governance topics and so on, [clients in Asia] are reading about ESG which you didn’t read about three years ago,” said head of sustainable advisory APAC Mario Knoepfel in a recent media roundtable attended by finews.asia.
With its new Swiss presence, Bank of China intends to play a pivotal role in promoting economic, trade and financial exchanges and cooperation between both countries. Bank of China, one of the country’s four largest state-owned commercial banks, has recently announced completion of the commercial registration of its Geneva branch. In July, the Chinese financial institution was included in the list of authorized banks and securities firms by FINMA, Switzerland’s Financial Market Supervisory Authority. In a press release, the bank said that it will focus on building a bridge for Sino-Swiss trade and investment, providing comprehensive trade finance products and commodity trade financial services to Swiss companies doing business with China and Chinese enterprises in Switzerland. These include food trader COFCO, which established its international HQ in Geneva in 2017, and shipping group COSCO, which followed a year later. In its statement, Bank of China also evoked the history of Sino-Swiss relations : Switzerland was one of the first Western countries to establish diplomatic relations with China and the first continental European country to sign a free trade agreement with China, in 2013. Today, Switzerland is China’s seventh largest trading partner in Europe and China is Switzerland’s largest trading partner in Asia.
In the summer of 2007, the World Economic Forum (WEF) came all the way from Davos, Switzerland, where its winter annual meetings are held, to Dalian, a coastal city in China. This renowned gathering of world business leaders had its first summer session in the East of the world from September 6 to 8. In 1978, Klaus Schwab, founder and Executive Chairman of the WEF, with his keen perception and insight, predicted that huge changes would take place in China. He later recalled that he was sure that China would play a vital role on the world stage when he read about Deng Xiaoping’s reform and opening-up policy in 1978. In the same year, he extended an invitation to Deng Xiaoping to the WEF. Deng didn’t attend himself, but he sent a high-level delegation headed by Qian Junrui, Director of the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, to the 1979 Annual Meeting. Three months later, Dr. Schwab visited Beijing with a European business delegation that included 20 CEOs. The two sides signed a memorandum of understanding in Beijing and established contact. From then on, China has never been absent from the Davos meetings. In the following decades, Dr. Schwab has worked actively for closer cooperation between the WEF and China and witnessed China’s journey of reform and opening-up.