SMEs Striking Out for China

by swisscham in Business

According to a survey carried out by Switzerland Global Enterprise (S-GE) among around 200 small and medium-sized exporting companies, Swiss SMEs see major potential in the Chinese market. Exports to China are accordingly set to gain importance in the next five years. Companies from the MEM industry are particularly active. Credit Suisse sees good sales prospects for Swiss SMEs in China. Chinese growth and the Chinese currency are set to develop in favor of Swiss exporters in the next six months. Export sentiment among Swiss SMEs has improved further and is more positive than at any time since the abandonment of the minimum euro exchange rate by the SNB in January 2015. As Bettina Rutschi, Senior Economist at Credit Suisse, explains: ÒThe most important driver of Chinese economic growth at present is consumer spending. Although we expect this to rise less sharply in the second half of 2016 due to the slight deterioration of the labor market situation, altogether economic growth in China is also set to remain high in 2016 at 6.5% so that there are good export prospects for Swiss SMEs particularly since according to our forecasts the Swiss franc should depreciate against the Chinese yuan by 1.5% in the next six months.

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