In recent years, Chinese banks have opened branches in Switzerland and Swiss institutions are expanding in China. Asset Management is the hot topic now.
For the Swiss financial sector, China’s ongoing opening in the area of finance also facilitates stronger collaboration and partnerships with Chinese companies. At the fourth «Chinese – Swiss Financial Round Table», high-level industry representatives from China and Switzerland discussed opportunities for stronger links and collaboration between the two financial centres.
The round table, organised by the Swiss Bankers Association (SBA) and the China Banking Association (CBA), was held on 14 November 2018 in Lugano, Switzerland.
Stable and Reliable
«Significant potential exists in the area of asset management, Herbert Scheidt (pictured above), Chairman of the SBA, said. «Swiss expertise in international asset management combined with our stable and reliable financial centre can be used to the benefit of both financial centres.»
Switzerland has a broad range of relationships with China and has been a reliable partner to China and its companies even before the conclusion of the free trade agreement in 2013.
Key Topic: Asset Management Hub
The economic importance of the interconnection between small countries such as Switzerland and the major global economies was emphasised in connection with China’s «Belt and Road Initiative».
A key topic in this regard was Switzerland’s strong and internationally-oriented asset management, which is an important pillar of its financial centre.
The know how and experience of the Swiss asset management hub, in particular in the areas of sustainable investments, pensions and alternative investments, were identified by the participants in the discussion as growth drivers for the financial centre as a whole.
Excellent Relations
«Switzerland and China have traditionally enjoyed good trade relations,» Bai Ruiming (pictured above), Deputy Secretary-General, CBA, said. The signing of a free trade agreement in 2013, which came into force in 2014, has further deepened these relations.
An annual financial dialogue between the Chinese and Swiss authorities has been held since then, and is followed by the round table initiated for the sector by the SBA and CBA. The previous round tables were held in the Zurich region (2014), Beijing (2015) and Geneva (2016).
