Shandong Ruyi invests US $ 700 million into Switzerland’s Bally | ChinaTimes

Recently, Shandong Ruyi Group ,  the “Chinese version of LVMH”, announced that it will acquire a controlling stake in the Swiss leather accessories company Bally International AG. Although the parties have not announced any specific details, sources familiar with the matter disclosed that the transaction was about $ 700 million, the deal will be completed within this year.

近日,有「中國版LVMH」的山東如意集團宣布,將收購瑞士皮革配件公司Bally International AG的控股權,雖雙方尚未公布具體細節,但知情人士透露,該筆交易作價約在7億美元,並會在今年內完成交易。

@ China Times | February 13, 2018

China’s Shandong Ruyi expands fashion empire with Bally | Reuters

Shandong Ruyi has agreed to buy a controlling stake in Swiss luxury shoe and accessories firm Bally from Luxembourg-based JAB Holding, the companies said on Friday, as the Chinese textile maker builds up a portfolio of fashion labels.

@ Reuters | February 9, 2018

Guangzhou International Institute of AI launched in Nansha | Life of Guangzhou

“The Guangzhou International Institute of Artificial Intelligence (AI) was launched in the Nansha Free Trade Zone on December 9. The institute will attempt within three years to attract no less than 30 high-end talent teams with strong influence in the Chinese and foreign AI industries to help facilitate the construction of Nansha’s first-class international AI industrial park.”

Read the full article @ Life of Guangzhou:

China’s New Generation of Artificial Intelligence Development Plan (State Council Document [2017] No. 35)| FLIA

“The Chinese State Council has issued a guideline on the development of artificial intelligence (AI) and the establishment of a goal to become a global innovation center in this field by 2030. Here is the full translation of the guideline: A New Generation of Artificial Intelligence Development Plan.”

Read the full translation of the State Council Document [2017] No. 35 @ Foundation for Law & International Affairs (FILA):

The State Council issues the “New Generation Artificial Intelligence Development Plan” | Central People’s Government of the People’s Republic of China

“Xinhua News Agency, Beijing, July 20th: The State Council recently issued the “New Generation Artificial Intelligence Development Plan” (hereinafter referred to as “Plan”), which proposed guidelines, strategic goals, key tasks and safeguards for the development of China’s new generation of artificial intelligence for 2030 – build China’s first-mover advantage in the development of artificial intelligence, and accelerate the construction of an innovative country and a world power of science and technology.”

Read the full issue on the website @ Central People’s Government of the People’s Republic of China:

Why more Chinese companies will come to Switzerland | Swissinfo

Switzerland can expect to see a lot more companies coming over from China in the coming years, according to Liu Jiren, co-founder and chairman of leading Chinese software firm, Neusoft.

Chinese companies made the headlines in Switzerland last year with several notable merger and acquisition (M&A) deals, including the record $43.3 billion takeover of Basel agrochemical giant Syngenta by the China National Chemical Corporation (ChemChina).

“Yet more are taking advantage of Switzerland’s political stability, technical know-how, strong financial system and low corporate tax rates to set up regional headquarters in the alpine nation. It also helps when diplomatic relations between the two countries are at a high point, as witnessed by the free trade agreement and visit earlier this week of Chinese President Xi Jinping.”

Read the full article @ Swissinfo: