ABB to Open USD150 Million Robotics Factory in Shanghai

ABB Group, the Swiss technology company, is in the final stages of commissioning its new USD150 million robotics factory in Shanghai, and the facility is expected to be operational within the next few months, said a senior executive. It will be the most advanced, automated, and flexible factory in the robotics industry worldwide – a center where robots make robots, said Sami Atiya, president of ABB robotics and discrete automation. “The new facility will also host an onsite research and development center, which will help accelerate innovations in artificial intelligence, and an open innovation hub where we will collaborate with customers to co-develop tailor-made automation solutions,” he said. Under the ABB plan, the new factory will deliver high-end manufacturing solutions for Asia and part of the group’s comprehensive value chain in China: from research to sales and services. “Robotics can bridge labor and skills shortages, while giving companies a greater degree of flexibility. We have seen much of the current demand for automation coming from new sectors and companies that previously hadn’t considered it,” said Atiya.

Credit Suisse to Launch Wealth Business in China Next Year

Credit Suisse plans to start offering wealth management services in China early next year after it won full ownership of a local securities venture. A senior Asia executive at the Swiss bank said it has hired dozens of staff for the new unit, despite a string of scandals, management changes and global strategy rejigs. “In spite of all these rumours flying around that Credit Suisse is pulling back or pulling out of China, China is a long-term play for us,” Benjamin Cavalli, head of its Asia Pacific wealth management business, said. The bank aims to start offering wealth management services in China next year on the back of securing full ownership of its local securities venture, which is likely by the first quarter of next year, Cavalli said. Credit Suisse’s China expansion plan comes even as the bank is cutting jobs and costs elsewhere in its efforts to recover from a string of losses and scandals. In July, the Swiss bank named its asset management boss as the new CEO. The plans for the China wealth business for next year, which have not been reported before, also come close on the heels of some media reports that Credit Suisse was reviewing its China business.

Interroll Opens New Plant in Suzhou During its 20th Anniversary Year in China

After two successful decades in the Chinese material-handling market, Interroll has now fully prepared for future opportunities in Asia Pacific and China by putting a new plant in Suzhou, China, in full operation, effectively doubling production capacities. Serving as a wholly owned subsidiary of the Interroll Group, the new Interroll Suzhou factory is located in the Suzhou Industrial Park, a national economic and technological development zone, with a total floor space of approximately 28,000 square meters and a total investment of RMB 181 million (approximately CHF 25 million). This marks another major upgrade of the Interroll Suzhou manufacturing base to provide high-quality products and services and all-round support to its regional customers, and demonstrates Interroll’s long-term commitment to the markets in China and Asia Pacific. As a Regional Center of Excellence (RCoE), the new facility will produce the full range of Interroll rollers, RollerDrive, drum motors, the modular conveyor platform (MCP), sorters, and pallet-handling solutions. It will also function as Interroll’s RCoE for polymers and subsystems. Interroll end users are served from China cover different industries and range domestically from China Post, S.F. Express, JD.com, Wuxi Lion, Aokang and Liwayway to end users across Asia such as Toyota, Red Bull, Amazon and Youngone. While deepening cooperation with existing customers, Interroll anticipates further growth opportunities in the medium-term in e-commerce, warehousing and express delivery, food, airport, pharmaceuticals, apparel, automotive and other industries in Asia Pacific and China.

SIG Completes the Acquisition of Evergreen Asia

Intelligent people flow solutions at the new Ezhou Huahu Airport: as part of the China Silk Road, the Chinese city of Ezhou, located on the middle section of the Yangtze River, is being developed into the world’s fourth and Asia’s first international aviation logistics hub. The new airport, developed by SF Express Co., is at the project’s core. By 2025, around 1 million passengers are expected to use the airport, a number that may well increase to 1.5 million by 2030. Xovis’ people flow solution will – as part of a bigger security solution by Xovis’ local partner Ruiyuan Huade Technologies Ltd. – be installed in the airports’ terminal security area. Monitoring queues leading up to the security checkpoint and providing relevant KPIs will enhance the passenger experience at the airport. “Ruiyuan is excited to embark on this journey with Xovis, as we see further opportunities for joint projects in China”, says Mr. Zhang Shu, CEO of Ruiyuan. “Ezhou Huahu Airport, a greenfield airport in China, is also the first Chinese customer that Xovis has been able to secure together with local partner Ruiyuan. “This is a very important strategic step for Xovis,– and we are honored to have won the trust of the development partners of Ezhou airports, namely SF Express. We are thrilled to be a part of this project”, says Andreas Fähndrich, CEO of Xovis AG. Xovis is a market- and technology-leading Swiss high-tech company that develops, produces, and distributes 3D sensors and software solutions for precise counting and analysis of people flow worldwide.

Logitech G and Tencent Games Announce Partnership to Advance Handheld Cloud Gaming

Logitech G and Tencent Games announced a partnership to bring a cloud gaming handheld to market later this year that will combine Logitech G’s expertise in hardware with Tencent Games’ expertise in software services. The new device will support multiple cloud gaming services, and both companies are working with the Xbox Cloud Gaming and NVIDIA GeForce NOW teams, so gamers can play AAA games when they are away from their console or PC. Logitech G and Tencent Games share a mutual vision of the future of gaming and are committed to ensuring the quality of experience comes together seamlessly to deliver on the exciting promise of gaming from the cloud. Cloud gaming utilizes data center servers to stream video games to consumers. There’s no need to download or install PC or console games. Instead, games are rendered and played on remote servers, and users interact with them locally on their devices. “Logitech G’s leadership in PC and console gaming gear make them an ideal partner to help us realize the vision of bringing a better gaming experience to gamers around the globe,” said Daniel Wu, general manager of Tencent Games Smart Solution Innovation Lab. “Today marks the start of a new opportunity for our companies to further push the frontiers of gaming devices.” “As one of the leading global platforms for game development, publishing and operations, Tencent Games has been at the forefront of innovation and it’s why we partnered with them,” said Ujesh Desai, general manager of Logitech G.

Nestlé Reports Half-year Results for 2022

Mark Schneider, Nestlé CEO, commented: “In the first half of the year, we delivered strong organic growth and a significant increase in underlying earnings per share. Our local teams implemented price increases in a responsible manner. Volume and product mix were resilient, based on our strong brands, differentiated offerings and leading market positions. We limited the impact of unprecedented inflationary pressures and supply chain constraints on our margin development through disciplined cost control and operational efficiencies. At the same time, investments behind capital expenditure, digitalization and sustainability increased significantly. We are focused on creating shared value over both the short and long term. Growing food insecurity around the world and heightened climate concerns, following an increase in unusual weather patterns, underlines the importance of this strategic direction. Good for you and good for the planet are the two key strategic pillars that our company pursues in an unwavering manner, even in the face of significant short-term challenges.” Regarding Zone Greater China, Organic growth was 2.3%, with RIG of 1.6%. Pricing reached 0.7%, turning positive in the second quarter. Foreign exchange had a positive impact of 3.8%. Reported sales in Zone Greater China increased by 6.0% to CHF 2.7 billion. Zone Greater China reported low single-digit organic growth, impacted by COVID-19-related movement restrictions. Growth was supported by robust demand in e-commerce channels and continued innovation.

SIX Officially Launches the Swiss GDRs-leg of the China-Switzerland Stock Connect Together With Shanghai and Shenzhen Stock Exchanges

SIX officially launched the Swiss GDR-leg of the China-Switzerland Stock Connect with the participation of senior government representatives from China and Switzerland. In addition to the official launch celebrations, the first Chinese companies aim to list their Global Depository Receipts GDRs this afternoon and trading is expected to start in the newly established GDR trading segment on SIX Swiss Exchange. Since signing the Memoranda of Understanding (MoU) in 2019, SIX has been working closely with the Shanghai and Shenzhen Stock Exchanges to establish a Stock Connect offering that is equally accessible for Chinese and Swiss market participants. Stock Connect, which provides a cross-listing framework between Chinese and Swiss exchanges, allows companies from each market to access investor pools in the other market and raise capital by issuing and listing GDRs on SIX Swiss Exchange and Chinese Depository Receipts on the Chinese exchanges. Stock Connect is another important step for the Chinese financial sector in opening up bringing the capital markets of China and Switzerland even closer together. At the same time, it will offer new attractive opportunities to investors as well as companies in both countries.

UBS Plans to Expand China Footprint with New Mutual Fund Unit

UBS Group AG plans to set up a wholly owned mutual fund business in China, two people with direct knowledge of the matter told Reuters, as the Swiss bank seeks to expand its footprint in the country’s USD 3.9 trillion retail fund market. UBS aims to launch the China fund unit in about two years, the people said. The bank’s asset management arm began hiring key personnel in recent months for the planned business, including a head of the company, one of them said. Strong impetus for the endeavour comes from the top. Ralph Hamers, UBS chief executive since November 2020, is willing to make new bets in China partly due to a success there enjoyed by the bank he previously ran, ING, said the second source. The new activity will expand a UBS presence in China that already includes a mutual fund joint venture and a private fund business. It comes amid intensifying competition in the mutual fund industry in the world’s second-largest economy, heightened by the scrapping of foreign ownership caps two years ago.

Swiss Schools Abroad Recover Slowly from Covid

After the disruption to schooling wrought by the coronavirus pandemic, Switzerland’s official schools abroad are looking to the future. Headteachers and officials from the 18 Swiss schools abroad are meeting in the canton of Thurgau from July 11-13 for their first full annual conference in Switzerland in two years. More than 100 people will be there for the official day, which is open to guests, on July 13. Thurgau is the patron canton of the Colegio Pestalozzi, the Swiss school in Lima, Peru, which has been among the worst affected schools of the network during the pandemic. It was on distance learning for over one year. Most of the other schools, which are spread among Latin America, Asia and parts of Europe, are “fairly back to normal”, says Barbara Sulzer Smith, the head of educationsuissen, the organisation which represents Swiss schools abroad. Interior Minister Alain Berset was able to see the situation for himself when he visited the Swiss School in Rome in May this year. “After lockdown and distance learning – mastered with dedication by the Swiss school in Rome – it is all the nicer to celebrate its 75th anniversary here,” he tweeted afterwards. Only the newest Swiss school abroad, in Beijing, had to once again go back to distance leanring this year, educationsuisse’s Sulzer Smith said. Schools in the Chinese capital were shut down in May amid a spike in locally transmitted Covid cases.

Militzer & Münch Opens Branch in Shenyang

On July 1, the Militzer & Münch Group took into operation the ninth M&M branch office in China. With the new office in Shenyang, the logistics company now also covers the northeast of the country. After the opening of a branch in Chongqing at the beginning of the year, the presence in Shenyang is another milestone in Militzer & Münch’s growth strategy. With this move, the company is consolidating its network of local experts: M&M now counts 100 employees in China. Branch manager Colon Sun will head and develop the new location. A specialist for the market in Northeast China, he has been active in the international freight forwarding industry for eleven years. “In Colon Sun, we have won an experienced expert for our new branch office,” says Andreas Löwenstein, Militzer & Münch Regional Managing Director Asia / Far East. “We are convinced that he and his will be able to further expand our local business. With our presence in the northeast of the country, we can now also offer our customers diversified, high-quality services in that area.” Nine million people live in the metropolis of Shenyang, the capital of Liaoning Province and one of China’s most important heavy industry centers. With its proximity to the modern port city of Dalian, its links to the country’s three northeastern provinces and to the neighboring economic zones to the south and east, Shenyang is a major transportation hub.

 

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