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SCHWEIZER BOTSCHAFT IN BEIJING
EMBASSY OF SWITZERLAND IN BEIJING
AMBASSADE DE SUISSE EN CHINE

Der wöchentliche Presserückblick der Schweizer Botschaft in der VR China
The Weekly Press Review of the Swiss Embassy in the People's Republic of China
La revue de presse hebdomadaire de l'Ambassade de Suisse en RP de Chine
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  25-29.4.2022, No. 914  
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Switzerland

UBS Names Securities Venture Chief as New China Head (Caixin)
2022-04-29
UBS Group AG named Eugene Qian, chairman of the Swiss bank’s China securities venture, to head its China operations, succeeding David Chin, who will continue with the company. The appointment will take effect July 1, UBS said Thursday. Qian briefly served as UBS’s China chief in 2015 when he rejoined the bank. He worked for the investment banking department of the bank’s Asia-Pacific region between 1997 and 2003 before departing for several senior positions with Deutsche Bank and Citigroup Inc. Qian was named general manager of UBS Securities Co. Ltd. in 2017 and then took on the role of chairman in 2019. In November 2018, UBS won regulatory approval to increase its holding in the securities joint venture to 51%, making it the first foreign financial institution to take control of a China brokerage venture following China’s easing of controls on foreign ownership in the financial sector. In March 2022, UBS further boosted its stake to 67%. In a 2021 interview with Caixin, Qian said UBS is “open” to the option of seeking full ownership of UBS Securities. Qian has rich experience in the industry and maintains good communication with regulators. He will continue promoting the bank’s China business and pushing forward integration of the bank’s mainland resources, UBS said in a statement. Over the past two years, Qian worked closely with Chin on executing UBS's China strategy, the bank said. “China is an important market for UBS, and seizing the opportunities in the Chinese market is of great strategic significance to UBS's business growth in the Asia-Pacific region,” the bank said. After taking the top China post, Qian will report to UBS Asia-Pacific President Edmund Koh, who oversees wealth management business, a person close to the matter said. Previously, Chin reported directly to Rob Karofsky, president of the investment bank at UBS. “The change could mean a strategic shift,” the person said. Chin, who was named the bank’s China country head in January 2020, will remain at UBS as head of the Asia-Pacific investment bank. During his tenure as China chief, Chin oversaw UBS boosting its stake in its China securities venture and a revenue surge from the Chinese market. China revenue for UBS more than doubled to almost $1 billion in 2021 from 2019, becoming the third-biggest contributor in Asia-Pacific. "Under Chin’s leadership, UBS's China business has been strategically integrated and achieved record performance last year,” the bank said, lauding Chin for “pushing the China business to a new height.”

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Foreign Policy

China hits back at Australia over Solomon Islands ‘red line’, saying ‘the Pacific is not someone’s backyard’ (SCMP)
2022-04-29

China slams US meddling around globe (China Daily)
2022-04-29

Pakistan urged to fix counter-terror shield for all Chinese projects and personnel, especially during political reshuffle (GT)
2022-04-28

China, Oman vow to promote strategic partnership, military cooperation (Xinhua)
2022-04-28

China agrees with subjecting UNSC veto to debate, but also raises concerns over its potential procedural confusion (GT)
2022-04-27

Macron congratulated on reelection as French leader (China Daily)
2022-04-26

China’s Hainan free-trade port tipped to deepen Asean ties, but island must ‘brave’ uncertainty (SCMP)
2022-04-26

India opens Raisina Dialogue to expand global influence; topics show balancing between China and West (GT)
2022-04-25

‘Sanctions mean chaos’: China’s foreign minister echoes Xi Jinping’s ‘transcendent’ global security initiative call (SCMP)
2022-04-25

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Domestic Policy

Liao Guoxun, mayor of China’s port city Tianjin, dead at 59 (SCMP)
2022-04-29

COVID dulls cross-provincial travels for May Day, but efforts to stimulate spending rolled out (GT)
2022-04-28

China’s big new infrastructure plan prioritises national security in face of ‘extreme conditions’ at home, abroad (SCMP)
2022-04-28

China’s Ministry of Public Security vows to punish those who profit from disaster and crack down on violations that disrupt market order (GT)
2022-04-27

Chinese premier stresses keeping employment stable, logistics smooth (Xinhua)
2022-04-27

China food security: Beijing moves to ‘revitalise’ seed industry as coronavirus, geopolitical tensions ramp up supply fears (SCMP)
2022-04-26

China sums up achievements on legal system in past decade, outlining strength of whole-process people's democracy (GT)
2022-04-25

Xi calls for blazing new path to develop China's world-class universities (Xinhua)
2022-04-25

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Beijing

Students identified as key group in Beijing outbreak (China Daily)
2022-04-28

China shifts Covid-19 focus to Beijing outbreak as Shanghai cases fall to 21-day low while fatalities increase (SCMP)
2022-04-26

Beijing launches mass testing for nearly 90% of its population, 'timely, decisive and necessary' (GT)
2022-04-25

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Shanghai

Shanghai requires enterprises to pay employees during COVID-19 quarantine (Xinhua)
2022-04-29

Shanghai to ease restrictions in areas under zero-COVID status; a ‘major step toward lifting lockdown’ (China Daily)
2022-04-27

World's top 500 companies gradually resume production in Shanghai (Xinhua)
2022-04-26

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Guangdong

Online Canton Fair sets big records (China Daily)
2022-04-26

China's Guangzhou cuts community transmission of COVID-19 (Xinhua)
2022-04-26

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Southwest China

Sichuan university, Pakistani students mourned teachers who died in Karachi terror attack (GT)
2022-04-27

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Tibet

Tibet improves infrastructure to boost tourism (Xinhua)
2022-04-28

China opposes U.S. interference in Tibet-related issues: FM spokesperson (Xinhua)
2022-04-26

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Xinjiang

Xinjiang's consumer market sees notable recovery in Q1 (Xinhua)
2022-04-29

UN team in China to prepare for likely Xinjiang visit by human rights chief Michelle Bachelet (SCMP)
2022-04-25

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Hongkong

Hong Kong court upholds not guilty verdict on Swiss photographer accused of aiding protest assault (HKFP)
2022-04-28

Hong Kong chief executive election 2022: can John Lee be the leader to finally untie the knotty problem of housing? (SCMP)
2022-04-28

90 court cases related to 2019 Hong Kong protests took 300 to 400 days to conclude (HKFP)
2022-04-27

Hong Kong leader Carrie Lam downplays concerns over diminishing press freedom following suspension of human rights media awards (SCMP)
2022-04-26

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Macau

Ships catch fire in Macao sea waters, blasts heard (Xinhua)
2022-04-25

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Taiwan

Beijing responds to Blinken: if the US agreed there is only one China, it cannot talk of Taiwan ‘invasion’ (SCMP)
2022-04-28

Taiwan aims to use lessons from Russia-Ukraine conflict in annual Han Kuang war game (SCMP)
2022-04-28

DPP and Taiwan secessionists attack anything our compatriots across the Straits like and support: Taiwan Affairs Office of State Council (GT)
2022-04-27

Beijing says US undermining peace by sending destroyer through Taiwan Strait (SCMP)
2022-04-27

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Economy

China jobs: employment being ‘hit quite hard’ by coronavirus, Beijing pledges support (SCMP)
2022-04-28

China’s investments in EU on downward path, as share among state-owned firms hits 20-year low (SCMP)
2022-04-27

China GDP: lacklustre provincial growth underscores impact of worsening coronavirus outbreak and lockdowns (SCMP)
2022-04-27

China rolls out unusual policy mix to sustain growth (Xinhua)
2022-04-27

China to cut forex deposit reserve requirement in ‘clear signal to stabilise yuan’ (SCMP)
2022-04-25

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DPRK

As North Korea’s Kim Jong-un threatens Asia with nuclear force, analysts caution against calling his bluff (SCMP)
2022-04-28

DPRK holds military parade to marks army's 90th anniversary (Xinhua)
2022-04-26

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Mongolia

Industrial output drops by 24.4 percent in the first quarter (Montsame)
2022-04-28

Mongolia seeks to combat price rises caused by external factors (Xinhua)
2022-04-28

Tax revenue increased by 40.1 percent compared to same period of previous year (Montsame)
2022-04-26

Mongolia trades with 126 countries (Montsame)
2022-04-26

96.3 million pieces of securities traded at national stock market (Montsame)
2022-04-25

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Embassy of Switzerland
 

The Press review is a random selection of political and social related news gathered from various media and news services located in the PRC, edited or translated by the Embassy of Switzerland in Beijing and distributed among Swiss Government Offices. The Embassy does not accept responsibility for accuracy of quotes or truthfulness of content. Additionally the contents of the selected news mustn't correspond to the opinion of the Embassy.
 
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