Chinese Corporate Spending Spree Benefits Switzerland

by swisscham in BUSINESS NEWS

Investments by Chinese companies in Switzerland quadrupled last year to reach USD 4.8 billion (CHF4.8 billion), according to research from consultants Baker McKenzie. The report excludes the proposed USD 43 billion takeover of Syngenta by ChemChina, which still awaits final regulatory approval. To put that mega-deal into perspective, Chinese foreign direct investment (FDI) in the whole of Europe totalled USD 46 billion in 2016 (up 90% on 2015) and USD 48 billion (+189%) in North America, says Baker McKenzie. Last year, ChinaÕs HNA Aviation Group snapped up Swiss air transport support companies Gategroup and ST Technics. The Chinese company had previously bought Swissport. Other significant deals in recent years include the takeover of iconic aluminium bottle maker Sigg by Haers Vacuum Containers. Other Chinese companies have invested in Switzerland without taking over Swiss firms. Leading Chinese software company Neusoft has run its European headquarters from Appenzell since 2009. Speaking to swissinfo.ch at the World Economic Forum last month, Neusoft chairman Liu Jiren said to expect more Chinese FDI in the coming years as they sought to diversify into cutting-edge service sectors.

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