Swatch Positive on Recovery in Luxury Demand from China

Swatch Group shares hit their highest level in nearly two-and-a-half years after the world’s biggest watchmaker said it expected a recovery in luxury demand from China. The maker of high-end Omega, Tissot and Longines timepieces as well as its eponymous mass-market plastic watches said sales in China in January had already exceeded the high levels seen in January 2022. The Swiss company said it expects record sales in 2023 boosted by the return of demand in China, Hong Kong and Macau, which was hit by the return of COVID-19 cases last year, and as Chinese tourists resume their travels.

China to Resume Pilot Outbound Tours to Selected Countries

On January 20, 2023, the Chinese Ministry of Culture and Tourism announced that Chinese travel agencies and online tour operators would restart providing pilot outbound group tours. As per the ministerial notice, from February 6, 2023, Chinese travel agencies will be able to open outbound group travel for Chinese citizens to 20 countries – Thailand, Indonesia, Cambodia, Maldives, Sri Lanka, the Philippines, Malaysia, Singapore, Laos, the United Arab Emirates, Egypt, Kenya, South Africa, Russia, Switzerland, Hungary, New Zealand, Fiji, Cuba, and Argentina. 

Switzerland’s Life Science Hub Welcomes Chinese Enterprises, Investors

Switzerland’s Basel Area, known for life science research and innovation, is eager to attract Chinese enterprises and investors to the region, a senior official has said. The area, located in the north-west of Switzerland, has “a lot to offer” to Chinese companies looking to expand globally, said Anke Hollnagel, Director Asia at Basel Area Business & Innovation, the region’s official investment and innovation promotion agency, in a recent interview. Recently, a delegation of Suzhou Industrial Park BioBAY Co. Ltd., led by its Chief Executive Officer (CEO) and Chairman Yin Jianguo, visited the Basel Area, the first of its kind from China after the easing of COVID-19 restrictions.

Notice on the Latest Requirements on PCR tests and Healthy Declaration for China-bound Passengers Departing from Switzerland and Liechtenstein

Starting from January 8th, 2023, COVID-19 will be managed as a Class B infectious disease in China, and border control measures will be adjusted accordingly. China-bound travelers departing from Switzerland and Liechtenstein are advised to read the following information on the adjustment to facilitate traveling: A) Passengers are not required to apply for Health Code from the Chinese Embassy in Switzerland and Consulate General in Zurich. B) Passengers are required to take nucleic acid test within 48 hours before direct flight departure to China, and declare the negative test result to China Customs by filling the Health Declaration Form either on Wechat mini-program of China Customs,or on the website, or via the China Customs APP. Passengers with positive results should wait until the test result is negative to take flight to China. C) There will be no nucleic acid test when travelers enter China, and no quarantine for those whose health declaration and entry inspection produce normal results. In case of a positive test result or any symptoms such as fever detected by China Customs, travelers will take an antigen test. Those who test positive in the test will need to self-quarantine.

Swiss Hold Off on China Covid Travel Restrictions

The Federal Office of Public Health (FOPH) said on Friday there was no indication that the Covid-19 situation in China posed a threat to the Swiss health system. As such, there are no plans to introduce special measures for Chinese visitors, it told the Keystone-SDA news agency. The State Secretariat for Migration (SEM), responsible for the borders, added that Switzerland would coordinate its position with that of the European Union (EU).

Chinese Company Jiangsu Eastern Shenghong Lists Its GDRs on SIX Swiss Exchange

Jiangsu Eastern Shenghong Co., Ltd. placed 39,794,000 GDRs at an offer price of USD 18.05 per GDR, with one (1) GDR representing an interest in ten (10) A-shares of the company. The A-shares of the company are listed on the Shenzhen Stock Exchange. Jiangsu Eastern Shenghong Co., Ltd. raised gross proceeds of approximately USD 718.3 million from the GDRs offering. Jiangsu Eastern Shenghong Co., Ltd. is a chemical enterprise featuring vertical integration of the value chains and focusing on applications for renewable energy in China. The company’s product offerings include renewable energy materials and performance chemicals, petrochemicals and chemical fibers.

Return of Air China in Geneva

Air China announces that they will resume flights between Geneva and Beijing on 26th January 2023. One weekly flight is planned for the beginning, on Thursdays using Airbus 330-200 aircraft. After a long and difficult period of travel restrictions due to the COVID-19 pandemic, we are excited to once again offer this popular route to our customers. Please note that this flight will have its entry point in Shenyang. We have taken all necessary precautions to ensure the safety and well-being of our passengers and staff. This includes implementing enhanced cleaning and sanitization procedures, and following all relevant health and safety guidelines. We encourage all travelers to check the latest travel requirements and restrictions before booking their flights. We look forward to welcoming you onboard and helping you safely reach your destination.

Sika Opens New Plant in Southwestern China

Sika is opening a new plant for liquid membranes and mortar production in Chongqing, a city in southwestern China with 30 million inhabitants. By commissioning the new plant, Sika is expanding its position in this rapidly growing metropolitan area, which is set to become even more important as China is creating the Chengdu-Chongqing business district with almost 100 million inhabitants. The automotive, finance, and logistics sectors are well represented in the Chengdu-Chongqingregion, and the construction industry benefits from these operations and companies’ efforts to achieve more sustainable production. With its new state-of-the-art plant in this region, Sika will be well-positioned to meet rising demand from the construction industry for high-quality, sustainable products, and will greatly expand its production capacity. The investment underscores Sika’s commitment to be close to the customer and offer the best product solutions and services on a local basis.

Sonova Completes Acquisition of the HYSOUND Group, Expanding Direct Consumer Access in China

Sonova Holding AG, a leading provider of hearing care solutions, has successfully completed the acquisition of the HYSOUND Group, first announced on August 19, 2022. As one of the leading nationwide chains of audiological care clinics in China, with around 200 clinics in over 20 provinces and more than 70 cities, the HYSOUND Group will significantly enlarge Sonova’s store footprint and direct consumer access in this fast-growing market. Arnd Kaldowski, CEO of Sonova, says: “I would like to extend a warm welcome to the new colleagues who are joining us from the HYSOUND Group. Increasing consumer access through our Audiological Care business is one of the key pillars of Sonova’s strategy. We look forward to combining the complementary strengths of Sonova and the HYSOUND Group to expand our consumer access in the fast-growing market in China together.”

ABB Opens State-of-the-Art Robotics Mega Factory in Shanghai

ABB officially opened its state-of-the-art, fully automated and flexible robotics factory in Kangqiao, Shanghai, China. The 67,000m2 production and research facility represents a $150 million (1.1 billion RMB) investment by ABB and will deploy the company’s digital and automation technologies to manufacture next generation robots – enhancing ABB’s robotics and automation leadership in China. “Building on three decades of success in China, the opening of our new mega factory is another milestone in helping our customers grow sustainably, address labor shortages and create high-value jobs in a new era of automation,” said Sami Atiya, President of ABB Robotics and Discrete Automation. “Our innovative, automated and flexible factory plays a key role in our strategy of ‘in China, for China,’ strengthening our full value chain here. With over 90 percent of sales supported by our factory, the new facility will help our customers in China create more locally made products, solutions and services.”


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