Givaudan, the world’s leading flavour and fragrances company, today officially inaugurated a new extension to its Nantong manufacturing facility aimed to support the capacity on liquid flavour production for beverages, dairy and sweet goods. This move will double the Company’s flavour production capacity in China. The CHF 30 million expansion brings the Company’s total investment on the Nantong facility to CHF 80 million.
@ Givaudan | November 27, 2019
Singapore-based crypto financial services company Matrixport is setting up a European operations centre in Switzerland. Matrixport has close links to the Chinese cryptocurrency mining giant Bitmain, which is simultaneously winding down its Swiss presence.
@ Swissinfo.ch | November 26, 2019
“China’s much anticipated Central Bank Digital Currency (CBDC) will start pilot testing this month, according to local outlet Caijing. The first firms involved are the four major state-owned banks, the three big telecoms companies and Huawei, which recently signed a cloud deal with the People’s Bank of China.
According to Fan Yifei, the deputy governor of the People’s Bank of China (PBoC), the currency has completed its top-level design, formulation, functional research and testing. The next step is to launch pilots, which are planned for Shenzhen and Suzhou.
The currency is referred to as the Digital Currency Electronic Payment (DCEP). That’s in part because it is a two-tier currency, where the first part involves the commercial banks converting some of their central bank deposits into digital currency. And the banks then distribute this digital currency to consumers. The process is intended to mirror the way physical cash is distributed.
The four state-owned banks involved are the Industrial and Commercial Bank of China (ICBC), China Construction Bank, Agricultural Bank of China, and Bank of China. And the three telecoms companies are China Telecom, China Mobile, and China Unicom.”
Read the full article @ Ledger Insights:
“A commission established by Congress to regularly review the national security implications of the U.S.-China relationship is warning that Chinese leaders’ prioritization of artificial intelligence technology could provide them with military advantages in a potential conflict with the United States.”
Read the full article @ National Defense Magazine:
“China and Greece agreed on Monday to push ahead with a 600 million euros ($660 million) investment by COSCO Shipping into Greece’s largest port, Piraeus, as part of efforts to boost its role as a hub in rapidly growing trade between Asia and Europe.
The agreement, part of 16 trade deals signed between Greece and China, came during an official visit by Chinese President Xi Jinping to Athens on Monday.
The two countries have drawn closer since 2009 when COSCO won a 35-year concession to upgrade and run container cargo piers in Piraeus. COSCO Shipping bought a majority 51% stake in Piraeus port in 2016.”
Read the full article @ PortandTerminal.com:
The Conzzeta conglomerate wants to sell the traditional Mammut brand. Most likely abroad – maybe to China. There are signs that indicate this.
@ Aargauer Zeitung | December 9, 2019
The Swiss reinsurer is negotiating a possible stake in the group. But nothing has been decided yet, says Switzerland.
@ Handelszeitung | November 7, 2019
“On November 5th, the Federal Chamber of the Swiss Parliament passed a petition to the government to establish a concerted policy on China. The issue was passed in the National House in March this year – which means that the issue of redefining China’s policy was put on the table of the Federal Council.”
Read the full article @ Swissinfo.ch:
“Three years since the White House first publicly considered the U.S. government’s role as a shepherd of artificial intelligence research, pivotal unanswered questions are still holding back a coherent strategy for boosting the critical technology at home.
Why it matters: China’s authoritarian system, largely untroubled by deliberative holdups, has been pouring money into its AI sector.
The big questions around U.S. AI policy largely revolve around competition with adversaries — which for now, yes, mostly means China: […]”
Read the full article @ Axios:
The German hotel group Steigenberger comes into Chinese hands. The Egyptian tourism entrepreneur Hamed El-Chiaty sells the Steigenberger umbrella company Deutsche Hospitality to the Chinese hotel operator Huazhu for 700 million euros.
@ Swissinfo.ch | November 4, 2019
据11月4日的消息，中国酒店集团华住以7亿欧元的价格从埃及旅游业大亨Hamed El-Chiaty手中成功收购德意志酒店集团(Deutsche Hospitality)100%股权-瑞士两家大酒店属于该集团。
@ Swissinfo.ch | November 4, 2019
As China enters a new phase of its economic development, its demand for higher-valued products like meat and dairy products is growing rapidly. In particular, China’s pork imports surge, driven by rising domestic demand and prices. The Chinese market is providing big potential to interested Swiss meat producers. However, to export meat to China requires an export license.
