Four new NFC smart watches that make use of China UnionPayÕs cloud-based payments service have been unveiled in Shanghai by Swatch Group CEO Nick Hayek. ÒFrom 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 merchantsÕ contactless POS terminals with a China UnionPay QuickPass icon. Eleven Òleading Chinese banksÓ have signed up to participate in the new Swatch Pay service, the watch maker adds. ÒIt 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 todayÕs 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 timeÓ, said the creative director Carlo Giordanetti of Swatch.

The Swiss watch industryÕs value of exports declined by 5.6% to just under CHF 1.9 billion, or USD 1.8 billion at current exchange rates, for the month of November. The Federation of the Swiss Watch Industry noted that the decline of exports, a trend that has continued for nearly two years, ÒsoftenedÓ in November, but the sector is still struggling. In addition to waning interest, the decline in value is being linked to precious metal watches. In its November statistics report, the Federation of the Swiss Watch Industry shared that the rises and falls of the main price segments alternated for the month. But, falls were more dominate. Sales of watches with an export price of between 200 and 500 Swiss francs, or USD 195 to USD 487, and those priced more than CHF 3,000, or USD 2,926, were lower. Other segments, however, posted small gains. Main markets were also down for November, but approximately half of the 30 primary regions for watches grew in November.

The London Metal Exchange (LME) and Henry Bath (whose shareholders include CMST Development Co Ltd and Mercuria Energy Group) today announce a pilot programme for the launch of the LMEshield commodities safeguarding system in the People’s Republic of China (PRC). During the pilot programme, which will run for a period of one year, Henry Bath will issue receipts on the LMEshield system. Receipts will initially be issued for bonded warehouses in Shanghai, with the intention of expanding to other Chinese locations. The LME has selected Henry Bath as its pilot partner because, together with its shareholders CMST and Mercuria, it is in a position to have undertaken the necessary work to ensure that LMEshield can be deployed effectively in the PRC. As the leading Chinese state-owned warehousing company, CMST, together with Mercuria, is ideally-positioned to help Henry Bath to sponsor the rollout of LMEshield into the PRC.

HNA Group, China’s fourth-biggest airline, announced on Wednesday it had secured acceptances for 96.1% of the shares in its bid for Gategroup Holding AG, the Switzerland-based in-flight catering provider. Gategroup said in a statement that payment for the shares was expected to be made towards the end of the third quarter or beginning of the fourth quarter. After the settlement of the offer, HNA intends to submit an application for the delisting of the Gategroup shares and for an exemption from certain disclosure and publicity obligations in accordance with the listing rules of SIX Swiss Exchange, the principal stock exchange in Switzerland. Zurich-headquartered Gategroup is an independent provider of products, services and solutions relating to passenger’s onboard service. It specializes in catering and hospitality, provisioning and logistics, onboard products and services to companies that serve people on the move.

NestlŽ SA and Alibaba Group Holding Ltd have launched a digital commerce and marketing campaign, a move the Swiss food giant hopes will boost its disappointing business in China through innovation in products and digital distribution channels. The six-month joint campaign will leverage Alibaba’s online and mobile marketplaces, media platform and rural services. According to NestlŽ, it will feature 154 products from 30 brands, 67 of which will be introduced to Chinese consumers for the first time. NestlŽ’s growth had been slowing in the past few years in China, as the company said it has not reacted quickly enough to trends like e-commerce and healthier eating. NestlŽ said its Chinese Yinlu congee brand still faces challenges as consumers shift to more premium products. “Consumers in China are very discerning and adapting to technology faster than almost anywhere else in the world,” said Wan Ling Martello, executive vice-president responsible for NestlŽ’s Asia, Oceania and sub-Saharan Africa regions who is also on Alibaba’s board. Martello said at an investment meeting in May that despite the slowdown in Chinese economy and the country’s fast-moving consumer goods sector, the country remains a great consumer story thanks to its emerging middle class and their growing disposable income.

NestlŽ has strengthened its global capabilities in e-commerce by signing a partnership with Alibaba in China, to grow online sales, build key brands and offer new products to millions of consumers. NestlŽ has introduced products including Nido milk powder, Damak chocolate and NescafŽ Dolce Gusto BMW MINI coffee machines on Tmall.com, ChinaÕs largest shopping website for brands and retailers.

NestlŽ hopes to help boost China’s dairy industry by training people in dairy farming and farm management, said Lu Ming, technical head of dairy and nutrition at NestlŽ (China) Ltd. The Swiss food giant’s dairy farming institute in Shuangcheng district in Harbin, the capital of Northeast China’s Heilongjiang province, has trained more than 800 people since it was started in October 2014. Lu said the institute imparts professional expertise, including how to prevent and control diseases, increase milk production of each herd, improve milk quality and save feed. Xue Jiangang, from East China’s Shandong province, said the farm where he works improved a lot after he took a milking and milk quality course at the institute in March. He said milking speed at his farm increased and the incidence of cow mastitis, which is inflammation of the udder tissue, dropped from 5% to less than 1%. Lu said training at the institute would benefit not only farmers but also NestlŽ. NestlŽ can provide its customers with safer and better milk-related products if basic conditions of dairy farming are improved, he added.

As autumn temperatures drop, the Chinese like to pamper themselves with hotpot to escape the chill. In recent years, cheese fondue, a tradition from Switzerland of dipping bread and other foods in melted cheese, has become popular in Beijing, as more and more Chinese are falling for the delicious dish. “In Switzerland, ‘fondue’ just means cheese fondue. It is the country’s signature dish, like Peking duck (for China),” says Wang Wen’ge, executive chef with Cafe Swiss at Swissotel Beijing. “Cheese fondue now is not so common in Beijing as in Switzerland, but is increasingly loved by Chinese people and expats.” Cheese fondue is similar to Chinese hotpot, but with a much simpler set of foods to dip into the pot, including bread and baby potatoes, he says. The chef uses Emmental and Gruyere to make cheese fondue. The cheeses are among Switzerland’s most expensive ones. After grating the cheeses, he tosses them into a pot that has been rubbed with garlic, and heats them with white wine and garlic. He stirs until the cheese melts, and then adds powdered red pepper and ground nutmeg, sometimes followed by grappa wine.

Swiss™tel Hotels & Resorts and Nanjing Jin Gao Real Estate Development Co., Ltd., a subsidiary of Jiangsu Golden Land Real Estate Development, today announced the development of a new hotel in Jinan, the capital of Shandong Province in eastern China. Joining the distinctive hotel brand’s growing collection of properties open and in development in China, Swiss™tel Jinan is scheduled to debut in 2020. “This project is exciting on a number of fronts,” said Foued El Mabrouk, vice president, operations, China, FRHI Hotels & Resorts. “It not only supports our growth plan of strategic expansion into key Chinese markets, but it also marks another excellent development opportunity with an experienced and committed partner in Golden Land development; a group we recently teamed with to develop and open a remarkable Fairmont hotel in Nanjing. Swiss™tel Jinan, with its contemporary feel, innovative design, inspired service and quality in life guest programs, promises to be a magnificent hotel in the City of Springs.”