China important market for Swiss firms

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A senior Swiss diplomat said that China is an China important market for Swiss firms and investment, attracting a large number of Swiss SMEs eager to expand their business and seek cooperation opportunities.

Yves Morath, China consultant and head of the Swiss Business Center at the Swiss Embassy in China, said that China is rapidly developing in terms of innovation and has emerged as a group of high-tech Chinese companies. He stressed that Switzerland has become Switzerland’s most important export market in Asia.

He pointed out that China is opening up a wider market to foreign investment, mainly due to the introduction of the new Foreign Investment Law and the shortening of the negative list.

Molas said: “China has a huge consumer market and is the most populous country in the world. The country’s rapidly growing middle-income group shows strong purchasing power, which provides opportunities for Swiss high-end and high-end consumer goods.”

He added that jewellery and watches were the fastest growing Swiss exports to China in the first half of this year. To date, more than 1,000 Swiss companies have invested in the Chinese market.

Morath saw tremendous potential for cooperation in China’s healthcare and medical devices and provided support for China’s aging population. In addition, preparing for the 2022 Beijing Winter Olympics can draw on Switzerland’s extensive experience in logistics and infrastructure.

In recent years, Swiss companies have increased their investment in the Chinese market. Schindler Group, the world’s leading manufacturer of elevators and escalators, said it will provide China with the most advanced technology and services for a long time.

China and Switzerland have made outstanding achievements in the field of innovation. Switzerland signed a free trade agreement with China in 2013, the first free trade agreement between China and continental European countries.

The two countries established an innovative strategic partnership in 2016 and promised to deepen economic and trade cooperation.

Moras said that Chinese companies have also invested in Switzerland, mainly in the field of drones, finance, solar and laser. He is optimistic about the future investment prospects.

“Switzerland is very strong in the life sciences and offers many possibilities and opportunities for Chinese companies in the chemical, pharmaceutical, biotechnology and medical machinery businesses,” he said.

Switzerland has positioned itself as a leading research and innovation centre. Many famous universities across the country have a rich talent pool and strong research and development capabilities in these fields.

The manufacturing, electrical engineering and metal industries have broad prospects. Moras added that information and communication technologies are a particularly promising opportunity for China’s Internet and Swiss artificial intelligence companies.

Wang Wei of the China Institute of International Studies said that Swiss investment in China is mainly concentrated in the electrical, mechanical, pharmaceutical, chemical and food sectors of coastal areas and special economic zones.