2020 - Nov 03, 2020

Economic recovery & CIIE: Swiss companies in China feel the upturn

          As China announced a 4.9% year-on-year growth of its economy in the third quarter 2020, UBS and the International Monetary Fund respectively expect a Chinese GDP growth of 7.5% and 8.2% in 2021.

          Swiss enterprises on the ground report a return to normal and a growing market demand. “For our member companies, the Chinese market will increase in importance even further because of the swift economic recovery compared to the rest of the world,” reports Swiss Centers China.

          While big events are still unthinkable in Europe, China will hold the third China International Imports Expo CIIE from November 5-10 in Shanghai. More than 40 Swiss companies participate. Swiss Centers China organizes two Swiss Booths for SMEs and member companies in the Food & Agriculture and Consumer product sectors.

Shanghai(November 3, 2020) – China is the first major world economy to recover from the impact of the Coronavirus crisis. For the third quarter of 2020, Beijing reported a GDP growth of 4.9% year-on-year. “The Chinese economy is expected to grow by 1.5-2% in 2020, while the World Bank expects the global economy to shrink by about 5.2%”, explains Nicolas Musy, Delegate of the Board of Swiss Centers. in China (SCC), a platform that lowers the market entry barriers into Asia for Swiss companies. “China is the only G20 economy to avoid a recession this year. As a result, the Middle Kingdom will increase its share of the world economy by 1.1% to 17.5% in 2020.”

Download the complete press release in EnglishGerman or French.