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Austria Strengthening Venture Capital Structures with Seoul and Shanghai

Margarete Schramböck, Austrian Federal Minister for Digitisation and Business, visited Seoul, the capital of South Korea and China's greater Shanghai metropolitan area, together with a high-ranking delegation of experts from the fields of digitisation, science and business, with the aim of strengthening Austria as a location for innovation.

November 9, 2018

China, the Rising Great Power of the 21st Century and the Austrians

At the Kreisky Forum, Austrian China experts (Schweisgut, Löw, Giner-Reichl, Witt-Löw) discussed the rising great power of the 21st century.

October 22, 2018

Ambassador Traina on Trade-War: "Donald Trump is Europe's Greatest Hope"

In an interview with the trend-magazine the US ambassador in Vienna, Trevor Traina, warns of the Chinese, and that the theft of intellectual property could also happen to Europe's key industries. Donald Trump's unpredictability is therefore "Europe's greatest hope" to avert such a scenario in time.

October 19, 2018

Agressive Southern Chinese Airline Launches Shenzhen-Vienna Service

The South Chinese carrier Hainan Airlines is pushing ahead with its expansion into Europe by adding Vienna - Shenzhen as the next non-stop route after Zurich at the end of August. The new twice-weekly flights will take off on October 20th, connecting Vienna with Shenzhen on Thursdays and Saturdays using the airline's Boeing 787 Dreamliner aircraft (see picture).

October 12, 2018

Outlook - Chinese Tourists and the Destination Austria

With around 900,000 arrivals (+23%) and 1.3 million overnight stays (+25%) in 2017, China is Austria's most important Asian market of origin with the greatest growth potential. From January to July 2018, Austria also recorded record figures with around 542,000 arrivals (+ 8.2) and around 781,000 overnight stays (+ 11.5 %) from China.

October 3, 2018 · Updated: October 11, 2018; 22:55

Public Diplomacy: Austrian Parliament Delegation Meets Chinese Friendship Association

Following the recent visit to China by Austrian President van der Bellen with the largest business delegation to date, an Austrian delegation of members of the National Assembly and the Federal Council is now on the road in China under the leadership of the second President of the National Council, Doris Bures. The aim of the trip is to further deepen Austrian-Chinese relations, in particular a meeting with Li Xaolin, President of the CPAFFC - Chinese People's Association for Friendship with Foreign Countries (中国人民对外友好协会).

May 29, 2018

Fresh Hallstatt Air Instead of Toxic Chinese Smoke

Tens of thousands of tourists from China meanwhile visit Hallstatt in Upper Austria every year. Two companies now offer healthy Hallstatt air in cans to the Chinese and expanded Asian market. The inhabitants and the municipal council of Hallstatt are not thrilled.

May 11, 2018

Hongkong Holding Company Completes Acquisition of Majority Stake in Austrian Lingerie Brand Wolford

Following the acquisition of 50.87% of the shares (for at least €36M) from the previous majority shareholders, Fosun Industrial Holdings Limited (Hong Kong Central) is now the new main shareholder of Wolford. The Hongkong financial investor, which is the investment vehicle of Shanghai based Fosun Group, systematically invests in the global fashion and consumer goods industry, and the management of its growing portfolio in the fashion sector was recently put in the hands of Fosun Fashion Group, which holds stakes in the German Tom Tailor Group and the French luxury brand Lanvin, amongst other holdings

May 4, 2018

Wolford: Capital Increase of Around EUR 22 Mln Approved, Dr. Junyang Shao is New Chairperson of the Supervisory Board

Today's extraordinary general meeting of Wolford AG resolved to increase the share capital from EUR 36,350,000 to EUR 48,848,227.77 by issuing 1,719,151 new ordinary shares. The issue price (Ausgabebetrag) per new share amounts to EUR 12.80; the total issue price amounts to EUR 22,005,132.80. The new shares have a profit entitlement (Gewinnberechtigung) as of 1 May 2017. The new shares will be issued at a ratio of 20 to 7, i.e. 20 existing shares entitle to subscribe for 7 new shares. The management board was authorized to implement the capital increase by 31 August 2018 and to determine the further details of its implementation.

May 4, 2018

Opening of the Austrian Consulate General in Chengdu

Austria has set up a consulate general in Chengdu, capital of southwest China's Sichuan Province, with President Alexander Van der Bellen, Chancellor Sebastian Kurz and Foreign Minister Karin Kneissl attending the opening ceremony during their state visit to China. Van der Bellen also expressed his wish for a new male panda bear.

April 12, 2018

Minister of Economy Visited Huawei and Alibaba During State Visit to China

Federal Minister of Digitization and Business Location Margarete Schramböck signed an agreement to facilitate access to Chinese trading platforms for Austrian companies during the current state visit to China at the Ministry of Foreign Trade and Economic Cooperation (MOFCOM) in Beijing. Global experience shows, however, that one should be cautious with regard to technical cooperation with Chinese and copyright issues.

April 12, 2018

FACC Achieves Sales Record of EUR 750.7 Mln in 2017/18

FACC, the Sino-Austrian aircraft component manufacturer generated preliminary sales of 750.7 million euros, and the order backlog increased to US$ 5.9 billion. On March 19, FACC entered the ATX, Austria's leading index on the Vienna Prime Market, and has since been one of the 25 largest and most traded companies in Austria.

April 4, 2018

Austria's Largest State Visit to China Imminent

Austria's largest state visit to China to date is about to take place. Four ministers will travel to China from 7 to 12 April with President Van der Bellen and Chancellor Kurz. 170 Austrian companies with a delegation of around 200 people are also on board. The expectation is high that various agreements between Chinese and Austrian companies will be signed.

April 3, 2018

TTTech Sets Up Joint Venture in Shanghai to Deploy Key Technology for Autonomous Driving Cars in China

The Vienna-based technology company TTTech and China's largest automotive group Shanghai Automotive Industry Corporation (SAIC) announced a joint venture with the intention to produce an Intelligent Driving Central Controller (iECU), which will be installed on the first China-made intelligent driving vehicle later this year. TTTech holds 49.9 percent in the new joint venture.

March 15, 2018

Mainland Chinese Billionaire Guo Guangchang to Take Over Austrian Asset Wolford AG

Shanghai based Fosun Group through its Hong Kong (Central) vehicle Fosun Industrial Holdings Limited (Fosun) has taken over control of one of Austria's last remaining lingerie assets. According to Wolford, its new strategic core shareholder has agreed to pay at least €36M for a 50.87% majority stake in Wolford AG. Wolford has been struggling with management problems for some time. It also has been loss making for several years. Fosun Industrial Holdings Limited, a subsidiary of Fosun International Limited (British Virgin Islands) is an investment holding company with interests in asset management and entertainment services. Fosun wants full control of the lingerie maker. Upon the closing of the share purchase agreement Fosun intends to launch a takeover offer to the remaining shareholders. Fosun was co-founded in 1992 by Fudan graduate Guo Guangchang who meanwhile became the 34th richest person in China with a net worth of €7 billion.

March 3, 2018

Federal President Widow Margot Klestil-Löffler Designated to Become Special Envoy to Russia and China

Due to tensions in the CEI Central European Initiative in Trieste between the Italian diplomat Giovanni Caracciolo di Vietri as CEI Secretary General and his deputy Margot Klestil-Löffler, it is rumored that the Foreign Office must find a new job for Klestil-Löffler. This is what the daily "Der Standard" writes in its Thursday issue.

February 23, 2018

KTM to Manufacture Motorcycles in China

The Upper Austrian motorcycle manufacturer KTM plans to produce motorcycles in China from 2020/21 as well. Currently KTM manufactures at the company headquarters in Upper Austria (Mattighofen), as well as together with the partner Bajaj in India (Pune).

February 23, 2018

FACC Continues to Climb in the Third Quarter 2017/18

Revenues for the first nine months of 2017/18 amount to EUR 564.0 million (comparative period 2016/17: EUR 518.6 million). The increase of 8.8% is attributable to a further significant increase in product sales of 11.4% to EUR 527.8 million.

January 16, 2018

Austrian Retail Association - Handelsverband raises alarm: every year 560 million Chinese parcels reach Europe without import VAT

More than 10 percent of Austrian retail sales are already generated online, which corresponds to around € 6.8 billion. The problem: half of this online turnover does not arrive at the domestic market, but flows abroad. Particularly problematic is the crossborder business with Asian traders and platforms, especially from China. Currently, 560 million parcels per year are sent to the European Union via Alibaba (AliExpress). 97 percent of these shipments are completely dutyfree and VATfree in the EU and a large part of the remaining 3 percent, at least without import duty.

December 21, 2017

HNA Group and C-QUADRAT support refugee project in northern Iraq

The HNA Group and C-QUADRAT are financing 100 lockable prefabricated houses with electricity as part of a relief operation for refugee families in northern Iraq

October 12, 2017

Lenzing AG / Lenzing Opens New Application Innovation Center in Hong Kong

The Lenzing Group is setting a further milestone in intensifying its cooperation with the partners along the value chain by its opening of a new Application Innovation Center (AIC) in Hong Kong. New applications for Lenzing fibers will be developed and tested at the new facility, among them applications for recent innovations like the RefibraTM branded lyocell fiber and the EcoVeroTM branded viscose fiber.

September 12, 2017

Andritz to supply pump turbines for the world’s largest pumped storage power station

International technology group Andritz has received a contract from the state-owned Chinese energy utility company Fengning Pump Storage Co. Ltd., State Grid Xinyuan Co. Ltd. to supply two variable speed pump turbines for the new Fengning pumped storage power plant in Hebei Province, China.

September 4, 2017

Chinese Activist Ai Weiwei Displays His Work in Vienna

The conceptual artist, documentary filmmaker and activist Ai Weiwei is one of the most well known artists of our time. The 21er Haus will present his work at the exhibition “Ai Weiwei. translocation – transformation” from 14 July to 20 November 2016.

June 30, 2016

AUA Started Flights to Shanghai, Tokyo Will Be Removed

The initial Austrian Airlines flight to Shanghai took off from Vienna yesterday. AUA will terminate the connection to Tokyo as of September 4 and will rather bet again on Chinese destinations. The economic slowdown of the Japanese economy made the Vienna-Tokyo route unprofitable. Instead AUA starts with five weekly flights to Shanghai on a Boeing 777.

April 7, 2016

Voestalpine Acquires Specialty Steel Firms in Shanghai and Barcelona

Voestalpine steel buys two specialty steel firms. With the purchase of Advanced Tooling Tek (ATT) in Shanghai, China, and the Sermetal Group in Barcelona, Spain, Voestalpine is enhancing its position as a producer of special steels. Both companies are specialized in the processing and sale of special steel products for tool and mold-making, a segment whose main customers are the automotive and electronics industries. Together ATT and the Sermetal Group have around 160 employees and generated a total revenue of around EUR 43 million in 2015.

April 7, 2016

Austrian Airlines to Offer Flights to Hong Kong Starting September 5, 2016

AUA Austrian Airlines has signed an agreement with Hong Kong authorities to ad Hong Kong International Airport to its portfolio of long-haul destinations. AUA will fly up to 5 times a week to Hong Kong as of September 5, 2016. The direct link to Vienna will also be the gateway to Eastern Europe for the Hongkongese as well as the South-Chinese business community.

March 9, 2016

Andritz Subsidiary Schuler Lands Large-Scale Contract in China

Schuler AG has received a further major order from FAW Volkswagen Automotive Co., Ltd. The Chinese company ordered press line with ServoDirect Technology and a servo tryout press for its Qingdao facility. With a total force of 81,000 kilonewtons, the servo press line will be mainly used to produce car body parts, such as hoods or doors. The order value is in the middle double-digit-million-euro range.

November 30, 2015

Xi Jinping's Strategy Represents a Significant Threat to European Industry

AEGIS Europe, the manufacturing alliance of 30 European industry associations express skepticism at Chinese President Xi Jinping's remarks to the media during London visit. The alliance called into question Mr Xi's comments to the media about China's orientation towards a more open and transparent market.

October 21, 2015

Bank of China to Open Branch in Vienna

Bank of China, one of the 5 biggest state-owned commercial banks in China intends to open its first branch in Vienna in the near future, as its Chairman Tian Guoli recently said while visiting Vienna.

October 16, 2015

Austria Introduces New Visa Rules for Chinese, Indian and Indonesian Business Travellers

Austria has decided to introduce a liberalized regime for issue of business visas to Austria, effective from August 1, 2015. In an initial pilot phase, the new regime will be applicable only to India, China, and Indonesia.

July 29, 2015

IAEA's Position and Road-Map Regarding Iran's Nuclear Program

The International Atomic Energy Agency (IAEA) and the Islamic Republic of Iran (Iran) agree, in continuation of their cooperation under the Framework for Cooperation, to accelerate and strengthen their cooperation and dialogue aimed at the resolution, by the end of 2015, of all past and present outstanding issues that have not already been resolved by the IAEA and Iran.

July 14, 2015

Iran Nuclear Deal: Joint Statement by Federica Mogherini and Iranian Foreign Minister

The joint statement by EU High Representative Federica Mogherini and Iranian Foreign Minister Javad Zarif calls on the world community "to support the implementation of this historic effort". "The Joint Comprehensive Plan of Action is a balanced deal that respects the interests of all sides. It is also complex, detailed and technical."

July 14, 2015

Iran Nuclear Deal: Historic Agreement in Vienna

The so-called P5+1 - the US, UK, France, China and Russia plus Germany and the EU have reached a "historic" deal with Iran on limiting Iranian nuclear activity in return for the lifting of international economic sanctions. The deal, known as the "Comprehensive Joint Plan of Action", was signed today in Vienna.

July 14, 2015

Schuler Acquires Majority Stake in Chinese Press Manufacturer

Schuler AG, a member of international technology Group Andritz, has signed a contract for the acquisition of a 51% stake in the Chinese press and machine tool manufacturer Yangzhou Metal Forming Machine Tool Co., Ltd. (Yadon). Yadon is a manufacturer of mechanical presses in China and has annual sales of approximately 120 million euros.

June 23, 2015

List of National Days of the home countries of all foreign Missions and Delegations in Vienna, Austria

The Vindobona table below is an updated list of National Days of all nations, which belong to at least one of following categories: Foreign Missions and Delegations in Vienna, Austria; Diplomatic Corps and other representations in Austria; International Organizations in Vienna and Permanent Missions; Missions and Delegations to the OSCE.

February 11, 2015 · Updated: February 7, 2018; 08:12

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

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
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