Sino-Swiss Business News
In response to increased demand, Enics announces expansion of its manufacturing site in Suzhou, China. The high-volume electronics manufacturing site serves both Chinese and international customers. Electronics Manufacturing Service company Enics is announcing expansion of one of its largest manufacturing sites in Suzhou, China. “Responding to increased demand, we are expanding our floor space by 50%, to over 22.000 square meters total still within 2021. The expansion space, adjacent to Enics’ currents manufacturing site in Suzhou, will house both warehouse space, as well as new assembly lines and certain function testers” tells Enics’ Vice President, Asia Jane Liu. “This expansion to a ready-constructed space enables fast increase of our capacity and smooth integration with our already existing operations in Suzhou.” Enics manufacturing site in Suzhou provides high-volume electronics manufacturing with new product introduction (NPI) and testing development services to both Chinese, as well as international customers. The highly automated manufacturing site currently employs 500 people, and takes pride in its high performance in delivery, quality and cost-competitiveness.
Worg Pharmaceuticals has opted to establish its European headquarters at the site Allschwil of the Switzerland Innovation Park Basel Area. The Chinese biopharmaceutical company develops innovative therapies to treat allergies and autoimmune diseases. The Switzerland Innovation Park Basel Area will become the hub for the European activities of Worg Pharmaceuticals AG. Founded in 2018, the Chinese biopharmaceutical company is headquartered in Hangzhou and specializes in the development of innovative therapies to treat allergies and autoimmune diseases. The company is led by a management team from China, the USA and Europe. Business activities in Europe will, according to the company, include both drug discovery and the preclinical and clinical development of the global Worg portfolio. A team of top-class researchers in the fields of chemistry and biology will be formed with the aim of establishing extensive research collaborations with academic institutions across Europe. “Our goal is to bring an IND (Investigational New Drug) candidate onto the market every year”, Worg explains in its company profile.
Swiss skincare, beauty and wellness brand Cellcosmet launched yesterday at Hainan Tourism Duty Free Shopping Complex in Sanya, marking the high-end skincare label’s first physical store in China.
Hainan Tourism Duty Free Shopping Complex is operated by licence holder Hainan Tourism Investment Duty Free Co (HTDF), which opened the store in downtown Sanya on 30 December last year. As reported, during the past month the retailer has introduced a wide array of fashion and high-end brands. It has added 59 brands to its cosmetics and fragrance zone, ranging from niche cult favourites to high-end names. Since opening, Hainan Tourism Duty Free Shopping Complex has attracted more than 700 international and domestic brands, covering 45 offshore duty free categories. Luxury skincare brands include La Mer and La Prairie. The Cellcosmet launch ceremony on the fourth floor of the retail complex was attended by HTDF Chairman and General Manager Xie Zhiyong, Cellcosmet China General Manager Zhang Yong and Deputy General Manager Sun Yahong, along with other senior executives.
The Chinese life sciences firm Hengrui Pharma will establish a research and development center in Zurich. According to a press release issued by Steiner AG, the group has decided on Manufakt8048 for its new location, a business park concept which was recently opened this summer and developed by the general contractor. Here, Hengrui Europe Biosciences AG will rent premises covering a total area of roughly 1,260 square meters, the press release explains. “Greater Zurich is the ideal hub for our company’s technical development but also to further advance in the field of life sciences”, comments Slavoljub Milosevic, Vice President, Head of European Research Center, Biologic Drug Discovery at Hengrui Europe Biosciences AG. He adds: “The wealth of talent as well as the high concentration of innovative companies, universities and research institutions have strengthened our decision to establish our company here”. Hengrui is already represented in Switzerland: Hengrui Europe Therapeutics AG, its European headquarters, is based in Basel.
The Jungfrau Region in Switzerland is looking forward to receiving more Chinese tourists, said Jungfrau Railways CEO Urs Kessler during a recent interview with Xinhua. A well-known scenic spot and snow sports resort, the Jungfrau Region is located in central Switzerland. At 4,158 meters above sea level, it is one of the main summits of the Bernese Alps. Its beautiful glaciers and snow scenes attract tourists from all over the world, and in 2001, UNESCO listed the Swiss Alps Jungfrau-Aletsch as a World Heritage Site. In recent years, Kessler said, Jungfrau Railways has received a large number of Chinese tourists, especially in 2019 before the outbreak of the COVID-19 epidemic. Jungfrau Railways offers an important means of transportation for tourists. Construction began on the pioneering project in 1896, and was completed in 1912. With a total length of 9.3 kilometers, the last station on the line, Jungfraujoch — Top of Europe — is 3,454 meters above sea level, making it the highest railway station in Europe.
After years of reticence to sustainable investing in Asia, adoption is beginning to pick up amongst wealth clients at UBS due to a myriad of drivers including growing awareness, product innovation and market volatility in China. In the last six quarters, UBS Global Wealth Management has witnessed a sharp acceleration in the adoption of sustainable investing in the region. As of the first half of this year, client assets in sustainable investments reached USD 4.5 billion in Asia Pacific – a 350% surge compared to the start of 2020. The number of clients that have invested in sustainable investment mandates or funds have also grown 140 percent over the last 12 months. One key driver of demand is the growing awareness about sustainable investing and the key related areas of real-world impact. “With everything that is going on around climate change, governance topics and so on, [clients in Asia] are reading about ESG which you didn’t read about three years ago,” said head of sustainable advisory APAC Mario Knoepfel in a recent media roundtable attended by finews.asia.
With its new Swiss presence, Bank of China intends to play a pivotal role in promoting economic, trade and financial exchanges and cooperation between both countries. Bank of China, one of the country’s four largest state-owned commercial banks, has recently announced completion of the commercial registration of its Geneva branch. In July, the Chinese financial institution was included in the list of authorized banks and securities firms by FINMA, Switzerland’s Financial Market Supervisory Authority. In a press release, the bank said that it will focus on building a bridge for Sino-Swiss trade and investment, providing comprehensive trade finance products and commodity trade financial services to Swiss companies doing business with China and Chinese enterprises in Switzerland. These include food trader COFCO, which established its international HQ in Geneva in 2017, and shipping group COSCO, which followed a year later. In its statement, Bank of China also evoked the history of Sino-Swiss relations : Switzerland was one of the first Western countries to establish diplomatic relations with China and the first continental European country to sign a free trade agreement with China, in 2013. Today, Switzerland is China’s seventh largest trading partner in Europe and China is Switzerland’s largest trading partner in Asia.
In the summer of 2007, the World Economic Forum (WEF) came all the way from Davos, Switzerland, where its winter annual meetings are held, to Dalian, a coastal city in China. This renowned gathering of world business leaders had its first summer session in the East of the world from September 6 to 8. In 1978, Klaus Schwab, founder and Executive Chairman of the WEF, with his keen perception and insight, predicted that huge changes would take place in China. He later recalled that he was sure that China would play a vital role on the world stage when he read about Deng Xiaoping’s reform and opening-up policy in 1978. In the same year, he extended an invitation to Deng Xiaoping to the WEF. Deng didn’t attend himself, but he sent a high-level delegation headed by Qian Junrui, Director of the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, to the 1979 Annual Meeting. Three months later, Dr. Schwab visited Beijing with a European business delegation that included 20 CEOs. The two sides signed a memorandum of understanding in Beijing and established contact. From then on, China has never been absent from the Davos meetings. In the following decades, Dr. Schwab has worked actively for closer cooperation between the WEF and China and witnessed China’s journey of reform and opening-up.
A cultural forum on Swiss architecture and art kicked off at Aranya, a trendy artsy tourism-oriented community space in Qinhuangdao, North China’s Hebei Province, as the first chapter in space’s Swiss architecture month that is set to run until mid-August. Collaboratively organized by the Embassy of Switzerland in China and Juanzong Books, the forum invited four ingenious Chinese architects – able to play to their oriental cultural tastes through Western approaches – to share their projects that reflect on the topic of “sustainability,” a pivotal issue in architecture. Adopting rather abstract themes such as “sensitive mountains” and “passive architecture,” the forum discussion focused on how buildings are designed to fit into the mountainous geography commonly seen in both China and Switzerland. Three Chinese architects Liu Kenan, Zhuang Ziyu and Yu Dao engaged the audiences by deductively showing the thought processes behind their projects to allow them to understand how they balanced idealistic vision and well-calculated functionality in their designs.
This year, the Chinese government implemented its domestic-international dual circulation strategy: the country wants to strengthen domestic demand and be less dependent on imports. This policy has huge implications for the life sciences, both in China and abroad. Local policies shall support the establishment of the entire value chain in China, and Chinese companies obtain subsidies for overseas market development. As a result, Swiss startups might benefit from the growing interest of Chinese venture capital funds. On the other hand, multinational companies will face increased competition from domestic firms. Lukas Zuest, Counsel and Head China Desk at the Swiss law firm Vischer, talked about the impact of the domestic-international dual circulation policy on the life science industry in both countries at the online edition of the Swiss Chinese Life Sciences Forum. The fourth edition of the event, organized in collaboration with VISCHER, the Swiss Chinese Chamber of Commerce and Basel Area Business & Innovation, attracted a diverse audience, not only from Switzerland and China, but also from many other European countries and even from India.