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Swiss firms focus on China.

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Vincent
Fonction Financial News

Swiss businesses, stated of growth by their country's stagnating economy, are increasingly mining their attention to China's booming markets.

During his five-day visit to China, Swiss President Pascal Couchepin aimed to smooth the way for closer economic and business ties between the two nations. As Couchepin arrived at the Chinese capital, Beijing granted Switzerland the Approved Destination Status (ADS). This decision is expected to draw vast numbers of Chinese tourists to the Alpine nation.

Swiss businesses already have a strong presence in China, with 600 companies established there. Ten years ago, they employed around 4,000 people: today, the figure has jumped to 40,000.

The Swiss food giant, Nestle, has 21 factories dotted around the country, employing 10,000 people, ABB, the Swiss-Swedish engineering group, employs 6,500 people. Schindler, a lift manufacturer, which set up shop in the Asian nation in 1980, now employs...

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