BEIJING, Sept. 17 (Xinhua) -- China remains an attractive market for Swiss exports and investment despite the global economic slowdown, according to a senior Swiss diplomat.
China is rapidly developing in innovation thanks to its highly developed market and industries, Yves Morath, counselor and head of the Swiss Business Hub China of the Embassy of Switzerland in China, told Xinhua in an interview on the sidelines of the Sino-Swiss Executive Investors Summit.
Morath said many Swiss small and medium-sized enterprises are suppliers to large Chinese firms. "The more innovative China's companies become, the more attractive they are to Swiss small and medium-sized enterprises."
China has a huge consumer market, as the country's dramatically growing middle class is showing strong purchasing power, offering opportunities for Swiss high-end and premium consumer goods, he said, adding that watches and jewelry were the fastest-growing Swiss exports to China in the first half of this year.
Switzerland inked a free trade agreement with China in 2013, the first free trade pact inked between China and a country in continental Europe.
Morath also saw huge cooperation potential in China's green initiatives and preparation for the 2022 Winter Olympics as Switzerland has much to offer in these fields.
Swiss firms have stepped up investment in the Chinese market in recent years. Tech giant ABB began construction of its new robotics manufacturing and research facility in Shanghai last week, with an investment of 150 million U.S. dollars.
The introduction of the foreign investment law and the shortened negative list will help Swiss investment in China, according to Morath. "We can see the Chinese regulators are opening up the market."
A single purchase
