Austria and China - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
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China in Austria | Chinese in Vienna | Bilateral Relations

Vienna: BRICS vs NAFTA – The Ups and Downs in the Economic Order

The BRICS conferenz 2014 was held at the Austrian Economic Chamber under the motto "BRICS vs NAFTA - The Ups and Downs in the Economic Order".

November 13, 2014

FACC and Parent AVIC to Shift Manufacturing of Passenger Cabins from Austria to China

During the China trip of Economy Minister Mitterlehner, Foreign Affairs Minister Kurz and Agriculture Minister Rupprechter, FACC AG and parent Aviation Industry Corporation of China (AVIC) have re-confirmed their "plans to enter into a strategic partnership relating to the integration of aircraft passenger cabins in China". Over the long run this means, that Austrian know-how and Austrian jobs will be moved and outsourced to China.

October 23, 2014

Austrian FDI: Current Developments 1Q 2014

In the first quarter of 2014, Austrian FDI abroad reached a value of 2.8 billion euros, which is less by about 30% than in the same period of 2013. Foreign direct investments in the same period into Austria stood at 1.4 billion euros. This is about 37% less than in the same period of last year.

July 29, 2014

Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City

The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).

July 25, 2014

Voestalpine Plans Further Acquisitions

In an interview with the Financial Times, Voestalpine CEO Wolfgang Eder confirms his ambition to grow through acquisitions and to double its revenue by acquiring suitable targets in the special steel division in China and North America.

June 16, 2014

Gas Deal: China to Invest $22Bln, Russia to Invest $55Bln

Russia’s overall investment on delivering gas to China is $55 billion and China’s investment is estimated at around $22 billion according to a contract signed by the two countries in Shanghai, Russian President Vladimir Putin said Wednesday.

May 21, 2014

voestalpine to Invest Further in China

Listed Austrian steel producer voestalpine opened another business location in China.

May 14, 2014

Czech Arca Capital to Invest in Romania

As reported by daily E15, Czech investment group Arca Capital is planning to make a huge investment in Romania.

May 12, 2014

Federation of Industries: “Industrial Compact“ for European Competitiveness

The Austrian Federation of Industries (IV) considers the EU entry of Austria as the basis of prosperty and economic growth in the past years. However, now reforms are required to catch up to a global level.

May 5, 2014

Low Inflation Still No Threat to CEE

Currencies in CEE should not be affected by low inflation, according to Erste Group.

March 19, 2014

Austria Most Popular Country among Hungarians

93 percent of Hungarians feel compassion towards Austria.

February 19, 2014

„Only A Catastrophy Will Bring a Change“

Bestselling author Marc Friedrich criticizes the IMF sharply and thinks that the Basel III framework is “ridiculous”. The U.S. monetary policy is “doomed to failure”.

January 21, 2014

Sajdik New Chairman of UN ECOSOC

The Austrian diplomat Martin Sajdik became President of the Economic and Social Council, which is one of the most important bodies of the UN.

January 15, 2014

Voestalpine to Construct New Plants in China

The Austrian steel manufacturer will invest € 450m in new facilities and plans to triple revenues until 2020.

October 28, 2013

Bulgaria to Encourage Chinese Investments

Investments from China in Bulgaria currently come at € 85m, reports SME Times.

October 18, 2013

China to Acquire Ukrainian Farmland

In the coming fifty years crops are supposed to be grown and animals should be bred in the Ukraine for the Chinese market.

September 23, 2013

Turkish Airlines Not Interested in Croatia Airlines

The Turkish airline carrier has denied rumors of acquiring states at Croatia Airlines.

September 11, 2013

Romania: Chinese Investors to Support Infrastructure Projects with € 3bn

According to the Romanian Infrastructure and Foreign Investments Department (DPIIS), investors from China will support the construction of new highways and electricity generating power plants in the amount of more than € 3bn.

September 11, 2013

Turkey Wants to Become 9th Largest Economy by 2050

Turkey is hoping to become the ninth largest economy worldwide by the year 2050. Growth rates will be around 5.2 percent in the years from 2012 to 2017.

August 30, 2013

Erdogan Considers Leaving U.N.

Turkey´s Prime Minister Recep Tayyip Erdogan puts pressure on the United Nations. The representation of the Security Council is not balanced, Erdogan criticizes.

August 26, 2013

Adria Airways to be Acquired by China Southern Airlines

Chinese Southern Airlines wants to gain a foothold in the Slovenian air traffic sector. Besides Adria Airways, Ljubljana Airport will be privatized.

August 25, 2013

Zumtobel Takes Over Chinese Affiliate

Listed light manufacturer Zumtobel Group has taken over the stakes of joint-venture partner Thorn Lighting Tianjin Limited.

July 29, 2013

Bulgaria: Signs of Economic Recovery

Bulgaria services sector marks the highest growth of FDI

July 26, 2013

China: Big Plans for Ljubljana Airport

China Southern, Asia’s biggest airline company, plans to establish a hub in Ljubljana for SEE.

July 24, 2013

EU: Current Account with Russia Deep in the Red

EU27 current account surplus came at € 29.1 bn in the first quarter of 2013.

July 18, 2013

Serbia to Invest in Renewable Energy

The Balkan country wants to invest more than € 10bn in its energy production. The focus will be on renewable energy.

July 18, 2013

Turkey Considers Economic Re-Orientation

The Turkish government wants to shift its economic focus from Europe to Asia.

July 18, 2013

Russia to Reduce Oil Export

Russia produces more oil which is increasingly used in the country itself. Refineries outside of Russia do not fear immediate bottlenecks in the supply of oil.

July 11, 2013

Gazprom Runs Risk Of Losing Leading Position

Currently, only state-controlled energy giant Gazprom is permitted to export gas. Due to cooperations with French Total and Chinese enterprises, Moscow now intends to open the market.

July 9, 2013

Austria: Moderate Economic Upturn

After one year of a phase of stagnation, the Austrian economy shows recovery, according to the results of economic indicator by the OeNB (Austrian National Bank).

July 5, 2013

Austrians to Invest Strongly in FDIs

Austrian investors have increased their direct investments in foreign countries by eleven percent to a total of € 145.5bn while FDIs in Austria remain unchanged at € 118.3bn.

June 26, 2013

Magna Opens New Engineering Center in Shenyang

Magna International Inc., announced yesterday that its Magna Steyr operating unit continues to strengthen its worldwide network of engineering services by opening a new engineering center located in the Tiexi District of Shenyang, China.

June 26, 2013

Rosneft to Supply China Over 25 Years

Russia’s Rosneft agreed to double oil supplies to China, in a deal worth $ 270bn.

June 24, 2013

Russia: Putin Changes Personnel at Ministry of Economics

In the light of the menancing recession, Russian president Vladimir Putin has reorganized the leaders of economic policy-makers.

June 24, 2013

Mitterlehner: „4,000 New Austrian Exporters Within Two Years“

Internationalization Offensive (IO) “go international” will be prologued until 2015. Economy Minister Mitterlehner and head of the Chamber of Commerce (WKO) Leitl present their main targets for Austrian export.

June 21, 2013

Russia to Improve Relations to China

Russia turns its back on Europe and starts focusing on Asia instead in regard to oil export.

June 21, 2013

Russia Enhances Oil Supply to China

Experts describe the dealings as a community of purpose rather than a sign of improved relations.

March 23, 2013

Russia Makes Oil to Gold

In the last decade, Russia´s government has transformed the oil exports into gold reserves. No other country has bought more gold in the last years.

February 12, 2013

Erdogan Considers Joining „Shanghai Five“

Turkey´s Prime Minister Recep Tayyip Erdogan increases the pressure on the EU. He considers a political re-orientation towards the east.

February 1, 2013

Andritz Acquires Majority stake in Shanghai Shende Machinery

Austrian technology Group Andritz has acquired an 80% stake in Shanghai Shende Machinery Co. Ltd., a renowned supplier of technologies and systems for feed and biomass pelleting.

January 28, 2013

“Germany overestimated, USA and China underestimated”

Trade with USA and Italy just as crucial for Austrian economy as trade with Germany, Bank Austria reports. "Made in Austria" products count for above-average proportion of Austrian exports.

January 26, 2013

Turkey Plans to Build World´s Biggest Airport

Until 2017, Turkey wants to build the biggest airport. In total, the new airport will handle up to 150 million passengers.

January 23, 2013

Hungarian Government „Do Not Need Help from IMF“

Hungary´s Minister of Economics György Matolcsy argues that his country has never needed a loan from the IMF.

December 22, 2012

RHI: USA and India as Growth Markets

CEO Franz Struzl considers expanding into India, Russia and the U.S. Investments will reach about € 50m.

December 1, 2012

Androsch: „AT&S Under Double Pressure“

In an interview with “Wirtschaftsblatt”, the major shareholder of the Austrian semiconductor producer AT&S explains that the company faces increasing costs and declining prices.

October 15, 2012

Voestalpine: No Investments in Europe

Wolfgang Eder, CEO of the Austrian steel company expects that Europe faces a longer phase of stagnation. The steel industry will not recover before mid-2013.

October 12, 2012

Andritz is Concerned About China

The CEO of Andritz Wolfgang Leitner thinks that there are substantial risks for the Chinese and European economy.

October 10, 2012

Serbia Asks China for Loan

The Serbian Minister of Finance Mladjan Dinkic asked the Chinese Exim Bank for a € 850m loan in order to realize construction projects. IMF is not satisfied with Serbia´s austerity policies yet.

September 26, 2012

RHI Demonstrates Optimism

The Austrian manufacturer of refractory products expects increasing revenues and a growing EBIT margin.

September 24, 2012

Palfinger´s Joint Venture in China Starts Operations

The Austrian crane manufacturer is about to intensify its China activities. After only six months, the competent authorities have given their approval to the Group’s joint venture with the Chinese Sany Group.

September 3, 2012