Viewing posts categorised under: BFI

China-Switzerland Year of Tourism Celebrated in Beijing

by eggplant in BFI

Swiss President Doris Leuthard (L) shakes hands with Li Jinzao, head of China National Tourism Administration, at the Mutianyu Great Wall during an activity of China-Switzerland Year of Tourism in Beijing, capital of China, 13 May.

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China Legal Report – April 2017

by eggplant in BFI

China legal Report is a monthly collection of Chinese law related news gathered from various media and news services, edited by Wenfei Attorney-at-law LTD. This time, you will read three useful news concerning “establishment of seven new free trades in China”, “the amendment of enterprise income tax law” and “security program of foods and drugs in the 13th Five Year Plan”.

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Xi Urges Upgrading of Free Trade Agreement With Switzerland

by eggplant in BFI

Chinese President Xi Jinping on Saturday suggested that negotiations with Switzerland on the upgrading of a Free Trade Agreement should begin as soon as possible.Xi made the remarks when meeting with Swiss President Doris Leuthard, who was in Beijing to attend the Belt and Road Forum for International Cooperation. With the development of bilateral relations since the establishment of China-Switzerland innovative strategic partnership in 2016, the two sides should maintain high-level contact, and seek innovation-driven cooperation and exchanges across the board, Xi said.He urged the two countries to strengthen the alignment of “Made in China 2025” with Switzerland’s Industry 4.0 strategies, enhance cooperation in finance, aviation, culture, winter sports, and work closely on China-Switzerland Year of Tourism in 2017.Noting that Switzerland is a vigorous supporter and participant in the Belt and Road Initiative, Xi said he expects more practical cooperation in key areas.

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Third Edition of the Sino-Swiss Business Awards

by eggplant in BFI

After successful editions in 2013 and 2015, the Sino-Swiss Business Awards 2017 has announced the winners of its third edition during an exclusive gala evening held at the Rosewood Beijing. More than 350 guests attended the event which included top economic and political leaders from both Switzerland and China. For the first time, and in the frame of the OBOR Summit, the highest authority of Switzerland, honoured the Ceremony with her presence: Her Excellency, Federal Councillor Doris Leuthard, President of the Swiss Confederation and Head of the Federal Department of Environment, Transport, Energy and Communications.Prior to the SSBA, a panel discussion entitled “On the move: Sino-Swiss business cooperation and the belt & road” took place for around 40 high-level guests, including H.E. President Doris Leuthard who made an opening statement.A signing ceremony including agreements on government, business and education levels was held alongside the event.

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OBOR Will Provide Great Business Opportunities for Every Field

by eggplant in BFI

On 14 May, the Belt and Road Forum for International Cooperation (BRF) officially opened. The General Secretary of SwissCham Beijing, Pauline Houl said during an interview that OBOR will provide many opportunities for China as well as Switzerland and the two countries can work together to develop a broad Eurasian market. With the continuous development of OBOR, the neighboring markets will be more open and diversified. Trade barriers will be reduced and the business environment will be more conducive to overseas investment. With good performance in clean energy and transportation infrastructure, Swiss companies will play an important role in the development of the entire area related to OBOR. “It’s a good opportunity to reach a consensus on how to create a real win-win partnership”. She also said that both Western and non-Western countries have shown great enthusiasm for the initiative and the potential business opportunities. Switzerland is ready to act as a strategic partner in the implementation of the OBOR initiative. The biggest attraction of the OBOR initiative is that it will bring great business opportunities in all areas.

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Swiss President Attends ‘Silk Road’ Summit

by eggplant in BFI

In addition to discussing energy and free trade during her visit to Beijing this weekend, Swiss President Doris Leuthard officially represented her country at the first international forum for a billion-dollar international Chinese trade initiative. The Chinese president pledged USD 124 billion (CHF124.1 billion) toward the project at the summit, which ends 15 May, plus supplementary funding for the Silk Road Fund and development aid for organisations in countries along the route. Upon her arrival in China on 13 May, Leuthard was greeted by the Chinese president. The leaders also focused on financial issues, particularly the opening up of markets, as well as the development of transport infrastructure and digitization. Several agreements were signed between Swiss and Chinese institutions in the context of 2017 as the “Year of Swiss-Chinese Tourism”, although no further details were given. Leuthard and the Swiss delegation also visited the Great Wall with China’s tourism minister. As Switzerland’s energy minister, Leuthard also met her Chinese counterpart NurBekri. A roadmap was completed for cooperation on energy issues between the two countries, according to a Swiss government spokesman. Also present in the Swiss delegation was canton Geneva government member Pierre Maudet, who signed an accord with the COFCO – a company in the agriculture and food sector that has plans to establish its headquarters in Geneva. It’s a move that is expected to create some 150 new jobs.

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Switzerland Has Patience and High Hopes for Chinese Market

by eggplant in BFI

Swiss companies see opportunities in innovation, engineering and financial services.” That’s what Doris Leuthard, the President of Switzerland, hopes for Swiss businesses in the Chinese market.Leuthard was among the 29 heads of state and government who attended the high-level Belt and Road Forum in Beijing. The two-day forum, held from 14 to 15 May, gathered leaders from more than 30 countries to map out their vision for globalization and help push for a stronger trade network. The Sino-Swiss trade bond stands out in particular. China has been Switzerland’s most important trading partner in Asia since 2002. And Switzerland is one of the few western countries to have achieved a trade surplus in dealings with China since 2003. The Sino-Swiss FTA came into force in July 2014, but still faces political and cultural hurdles. And that’s where Leuthard suggested companies could be more patient. Switzerland is specialized in banking and financial services, and is also a member of the China-led Asian Infrastructure Investment Bank (AIIB), whose job is to support financially weaker countries with investment in their energy and transport infrastructure.That makes Switzerland a very important member to be able to financially support and help facilitate the Belt and Road Initiative.

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ABB Names Chun-Yuan Gu President, AMEA

by eggplant in BFI

ABB announced that Chun-Yuan Gu, managing director of ABB China, will become president of the AMEA region. He takes over from Frank Duggan, who has been appointed president of Europe, succeeding Bernhard Jucker, whose retirement was announced earlier. As members of the ABB Executive Committee, both Chun-Yuan Gu and Frank Duggan will report to ABB CEO Ulrich Spiesshofer. Both appointments will be effective July 1, 2017. “China represents one third of global growth and is a very important market for ABB. I am very pleased to welcome Chun-Yuan, a China and industrial automation expert, to our Executive Committee. He has a proven track record of delivering superior growth momentum and a profound knowledge of Asia and emerging markets”, said Spiesshofer. “He will have an important role in implementing our Next Level strategy and further accelerating our growth momentum, for example, through our digital offering, ABB AbilityTM. Chun-Yuan will be key to integrating our announced acquisition of B&R, an innovation leader in machine and factory automation, in the industrial segments of emerging markets”.

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Interview: Belt and Road Initiative to Contribute to Poverty Reduction: Swiss President

by eggplant in BFI

“The Belt and Road Initiative will strengthen well-being and contribute to poverty reduction in concerned regions. It will improve ‘connectivity’ between Europe and Asia, and help develop trade and the exchange of people,” Swiss president Doris Leuthard told Xinhua in a recent interview.Leuthard is among the heads of state and government leaders who accepted China’s invitation to attend the Belt and Road Forum for International Cooperation slated for May 14 and 15 in Beijing.The trip to China reflected Switzerland’s support for the Belt and Road Initiative. It also highlighted the very positive relations prevailing between two countries, she said.She noted that Switzerland was among the first non-Asian countries to become a member of the Asian Infrastructure Investment Bank (AIIB), whose mandate involves, among other things, financing infrastructure projects along the Belt and Road.Speaking of the relations between Switzerland and China, Leuthard said that they were characterized by “friendship and mutual respect.”Switzerland has always shown a pioneering and innovative spirit when it comes to its relations with China. And also, Switzerland was the first nation in continental Europe to establish a free-trade agreement with Asia’s economic powerhouse. “This pioneering character is indeed an important feature of the bilateral relations between our countries, and Switzerland counts on consolidating and pursuing these good relations,” the Swiss president said.

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ChemChina Wins EU, US Nods for Syngenta Takeover

by eggplant in BFI

China National Chemical Corp(ChemChina) won the European Union’s antitrust approval for its USD43 billion takeover of Swiss pesticide maker Syngenta AG, a day after the US gave its blessing, bringing China’s largest foreign acquisition closer to the finish line. ChemChina’s offer to divest some pesticides and other agricultural products will remove “problematic overlaps” and allow EU regulators to clear the deal, the European Commission said in an emailed statement. The takeover, announced a year ago, is one of a trio of megadeals that would reshape the global agrochemicals industry. If the deal is completed, ChemChina Chairman RenJianxin would become the head of a chemicals giant that sells products as varied as rubber tires, pesticides and genetically modified crop seeds.

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