Viewing posts categorised under: BFI

China’s Cosco Shipping Offers USD 6.3 Billion for Rival

by eggplant in BFI

Published by www.nytimes.com/reuters, 12th Jul 2017 in category BUSINESS NEWS in English

The World Economic Forum (WEF) in the Chinese city of Dalian last week for the so-called Summer Davos came at a time when China is assuming a greater global profile, including on issues such as climate change and trade. This forum is not the first time this year that China has used the WEF to position itself positively on the world stage. In January, Xi Jinping became the first Chinese president to give a speech at Davos in Switzerland, making an impassioned defense of economic globalization in the face of protectionist rhetoric. China has been a big beneficiary of globalisation, with International Monetary Fund data since 2014 showing that the Chinese economy is now larger than the US on a purchasing power parity basis. But the consequences of China’s strong economic growth have been more than financial. In terms of perceptions, many believe the global economic and political balance of power has swung significantly, and this has been reinforced by major Chinese trade and diplomatic forays such as the “One Belt, One Road” initiative.

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Swatch Partners With Eleven Chinese Banks For Second-Generation Payments Watch

by eggplant in BFI

Four new NFC smart watches that make use of China UnionPay’s cloud-based payments service have been unveiled in Shanghai by Swatch Group CEO Nick Hayek. “From July 27, 2017 onward, Swatch Pay will be available at designated Swatch stores in 28 Chinese cities. Enthusiasts can use their watches to pay for purchases in shops and stores around the country using merchants’ contactless POS terminals with a China UnionPay QuickPass icon. Eleven “leading Chinese banks” have signed up to participate in the new Swatch Pay service, the watch maker adds. “It is easy to use, friendly, uncomplicated and universally appealing thanks to its design and price positioning. The product matches the brand position well and meets one of today’s needs for interactive product features that make our lives more enjoyable. People have really understood the added value of having a stylish and easy-going accessory, allowing them to settle all kinds of purchases with a simple gesture. Many have seen the safety aspect of having a non-precious watch on their wrist for such operations, allowing for a light-hearted, open-air experience at any time”, said the creative director Carlo Giordanetti of Swatch.

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Swiss Export Has Reached a Record in The First Term

by eggplant in BFI

Swiss export has reached a record of CHF 109, 6 billion during the first semester whilst import hit CHF 90.7 billion, the highest in 8 years. In terms of industry, chemistry/pharmacy shows an increase in export of 7% or CHF 32 billion, reaching a historical level. Export to North America and Asia has increased by 6%. With a raise by a fifth, the turnover with China has reached a new peak. But the Middle East has fallen by 16%. The European continent has increased by 4%. After a bounce back in May, Swiss horology continues to recover. Its deliveries abroad are of 5.3% in June at CHF 1.7 billion. In the first semester, it stagnated (+0,1% at 9,5 billion). China (+21,7%) and the United Kingdom (+16,3%) particularly contributed to the performance. Hong Kong is slightly higher (+0,5%). However, the United States shows a clear fall back (-5,9%).

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Asset Management Granted Private Fund Management License In China

by eggplant in BFI

UBS Asset Management today announced that its wholly foreign-owned enterprise (WFOE), UBS Asset Management (Shanghai) Limited, has been granted a Private Fund Management (PFM) license from the Asset Management Association of China (AMAC). The license allows the WFOE to offer onshore fixed income, equity, and multi-asset private funds to both institutional and high net worth investors in China. “China is a key growth market for UBS Asset Management. Our goal is to be a leading asset manager in China for both onshore and offshore investors and a strong partner to Chinese clients investing overseas,” said Ulrich Koerner, President of UBS Asset Management. “UBS Asset Management is the first international manager with a QDLP quota to receive a PFM license in China’s onshore market. Securing the license expands the breadth and depth of our domestic offering, complements our offshore capabilities and, importantly, demonstrates our continued support of China in its efforts to open its capital markets to the world,” said Rene Buehlmann, Group Managing Director, Head Asia Pacific at UBS Asset Management. “UBS Asset Management has been serving China investors since the 1990s. With the addition of the PFM license, augmented by our other platforms in China, we can provide a broad range of services to onshore and global clients. It also allows us to work more closely with subsidiaries of global firms in China to meet their domestic investment needs,” he added.

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Descendant of a Century-Long Swiss Family in Wine: We Want Make Something in China

by eggplant in BFI

CHEERS, which has a high reputation among the new generation in China, is from a century-long Swiss family in wine since 1898. Ms. Lina of the Masueger family, whose husband had died prematurely, had to take care of the young children alone. So she became the pioneer to lead the family into the wine industry. In that era, independent working women were still rare. In order to provide a better life for the children, Ms. Lina bravely traveled between the Swiss and the Italian imports of barrels of wine. At first, she sold only to neighbors. Later, the business expanded, the whole family participated to work together from generation to generation. It takes this Swiss domestic wine business family a hundred years to extend their business to the world. Ms. Claudia relayed the family business and aimed the Chinese market. She and CHEERS has been stationed in China for 9 years and by 2017, there is a plan to open 100 CHEERS around China and her target is 888 in the future.

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Bystronic is Growing in China

by eggplant in BFI

Bystronic is Growing in China
Published by bystronic.com.cn, 30th Jun 2017 in category Engineering / Manufacturing in Chinese
During a festive ceremony on 18 May 2017, Bystronic inaugurated its new sales and service center in Shanghai. The new premises offer Bystronic an enhanced infrastructure with modern offices and a demo center. During his opening address at the inauguration of the new business location, Dr. Song You, President of Bystronic China, emphasized that the new center will allow Bystronic to offer even more comprehensive support to its Chinese customers with sales advice and services relating to all the steps of sheet metal processing. In addition to Shanghai, Bystronic has two other Chinese business locations in Shenzhen and Tianjin that act as centralized points of contact for the sales and service of its sheet metal processing systems. The goal of this infrastructure is to be a competent and reliable local partner for all the customers’ concerns.For Bystronic, China is one of the most important individual markets worldwide. As Dr. Song You explained, ever since Bystronic took up its sales activities, it has been able to continuously expand its range of solutions in China. Today in China, Bystronic is one of the top 3 international manufacturers of machines for the cutting and bending of sheet metal.

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Concardis Brings Alipay to Switzerland

by eggplant in BFI

Concardis is expanding its international portfolio: the payment service provider is bringing Chinese mobile payment solution Alipay to Austria and Switzerland. CGössl is the first merchant in Austria to enable Chinese guests to pay via smartphone and the Alipay app. The roll-out in the Swiss market is planned for October of this year. This in turn increases the demands on payment systems – not only in e-commerce, but also at the point of sale on site. Tourists from around the world come to Europe and, when shopping, expect the standard options they are used to from their home countries. But East Asia is leading the way in terms of mobile payment. This is the reason for our partnership with Alipay – which helps us enable merchants in all of German-speaking Europe to allow their customers who are travelling from Asia to pay using the preferred payment method in China,’ says Marcus W. Mosen, CEO of Concardis. And it has certainly paid off: Alipay currently has more than 450 million active users and holds more than 50% of the Chinese online payment market – even reaching a total of 80% with regard to mobile payment. “Entry into the Austrian and Swiss markets is important for us to help us gain stable footing in Europe as a whole. With their strong position in German-speaking Europe and their international experience, Concardis is the ideal partner to help us achieve this goal.” The partnership between the Chinese company and the Eschborn-based payment service provider has existed since June of last year, explained by the head of EMEA at Alipay.

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China’s Gymnastic Icon Li Ning to Visit Switzerland

by eggplant in BFI

Chinese gymnastic icon Li Ning in June is set to return to Montreux, Switzerland, where he won gold in the inaugural Arthur Gander Memorial event 32 years ago, to -enhance the -exchanges between the two countries. Speaking ahead of his trip to Montreux, Li, a three-time Olympic gold medalist at the 1984 Los Angeles Olympic Games, said he hopes his journey could see more cooperation between the two sides. After retiring from competition in 1988, the “Prince of Gymnastics” set up a company in his own name specializing in sports equipment in 1990. The brand has become extremely popular in China.But Li was cagey about revealing any sponsorship deals with Swiss teams or clubs -during his forthcoming trip, saying it should be “decided by the market.” China has concluded a cooperation agreement with the Swiss sports body for the 2020 Youth Olympic Winter Games in Lausanne and the 2022 -Winter Olympic Games in Beijing.

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This Swiss Appliances Company Is Gathering Steam on Chinese Smog

by eggplant in BFI

At CHF11,000 (USD 11,300) a pop, Metall Zug AG’s “Refresh Butler” is no ordinary steam cleaner. But it may be key to the Swiss maker of luxury household appliances’ big leap into China. The Zug-based company is counting on the steaming closet that can rid business suits of the lingering smells of smoke and smog to increase its foothold in Asia’s biggest economy as it takes steps to sell more of its household appliances abroad. “It’s a door opener,” Chief Executive Officer Juerg Werner said in a May 16 interview at the company’s headquarters in Zug. To the company’s surprise, the product is proving popular in China, where airing clothing can be difficult in cities due to smog and poor air quality, Werner said.“People in China smoke a lot,” he said. “I spent some four to five hours in thick smoke when I was there — it stank like crazy.” “It’s a narrow segment we’re serving here, in China, too,” Werner said. “The top end is relatively thin. Nevertheless, we managed to win some top projects in China recently,” he said, declining to provide details.

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Joerg Gasser: «Switzerland a China Test Case»

by eggplant in BFI

China’s capital markets remain restricted to foreigners, but Switzerland is launching a promising bid to help further open up the country to western participation, Swiss diplomat Joerg Gasser tells finews.com.Switzerland’s highest tax diplomat, Joerg Gasser, visited Singapore, Hong Kong and China recently as part of a government-led visit to the region which included UBS, Credit Suisse, and the Swiss stock exchange operator. The Swiss government under finance minister Ueli Maurer made a case to help China liberalize its economy, Gasser tells finews.com – a plan based on diplomatic relations more than 65 years old. From the interview, we could also see his opinions in “China interested in talking strategy with us”, “We’re small, not in the EU, not a threat to China”, “ChemChina-Syngenta signals open market” and “Chinese banks need to be in Switzerland”.

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