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Foreign Trade: Imports and Exports Pass the 150 Billion Euro Mark for the First Time
The total nominal value of imports of goods in 2018 was 5.8% higher than in the previous year at 156.06 billion euros, while exports of goods rose by 5.7% to 150.1 billion euros. This results in a trade deficit of 5.99 billion euros. More than half of Austria's foreign trade was spread across only five countries.
July 10, 2019
Western Balkans: Austrians Demand EU Accession Negotiations Begin
After the EU Commission issued a recommendation for the opening of accession talks with the two Western Balkan states North Macedonia and Albania, the European parliamentarians of the Austrian People's Party (ÖVP) Karas and Mandl demand that the "promises" be kept. The decision to open accession talks will be taken by the Member States later in June.
June 5, 2019
Head of China's Top Legislative Body in Vienna
Li Zhanshu, one of China's most powerful politicians was in Vienna and was received by Austria's central institutions despite the domestic political turbulences.
May 28, 2019
Largest Chinese Bank Opened Branch Office in Vienna
China's largest bank, ICBC - Industrial and Commercial Bank of China was officially commenced for business in Vienna. Mr. Li Zhanshu, Chairman of the Standing Committee of the National People's Congress, who was on an official visit in Austria attended the opening ceremony of ICBC Austria Bank GmbH (ICBC Austria).
May 28, 2019
Asia's Largest Airline to Fly to Vienna
From 18 June 2019, China's largest airline, China Southern Airlines, will fly three times a week from Guangzhou to Vienna via the capital Ürümqi (Wūlǔmùqí) in Xinjiang, China's most northwestern province. Xinjiang has made international headlines in the last two years due to massive human rights violations. China may have interned more than a million Uighurs, Turkic-speaking Muslims, in an attempt to suppress their desire for greater autonomy.
May 2, 2019
Belt and Road Initiative - China's Reconquest of the World
Many heads of state did refrain from appearing at the second Belt and Road Forum for International Cooperation in Beijing this year, or are increasingly expressing themselves critically. Chancellor Sebastian Kurz also expressed his caution after meeting President Xi and Prime Minister Li Keqiang for talks.
April 26, 2019
Alibaba's Jack Ma Hosted Lower Austrian Business Delegation
In order to improve bilateral relations and exports between Lower Austria and the Chinese partner province Zhejiang near Shanghai, a large delegation from Lower Austria headed by Governor Johanna Mikl-Leitner was touring East China this week. The plan is to increase goods exports by 100 million euros within four years.
April 26, 2019
Silk Road Initiative in Mutual Interest - Chinese Delegation at Austrian Parliament
During a working visit by Ma Biao, former member of the 18th Central Committee of the Communist Party of China and current Vice-Chairman of the Chinese People's Political Consultative Conference, Austrian parliamentarians show interest in the trade partnership with China.
April 19, 2019
Hub to the Far East - ÖBB Rail Cargo and Port of Trieste Strengthen Cooperation
At a critical time when the question of Italian economic independence from China is being discussed throughout Europe, ÖBB's Rail Cargo Group is intensifying its cooperation with the port of Trieste in order, among other things, to be able to use the transport connection of the Adriatic port to the Far East.
March 22, 2019
Austria is Booming with Chinese Tourists - Number of Overnight Stays Six Times Higher
In tourism, China is currently one of the most dynamically growing foreign markets of origin. In the 2018 calendar year, the number of overnight stays by Chinese guests in Austria increased almost sixfold (+491%) compared to 2008, reaching around 1.4 million overnight stays.
February 28, 2019
Huawei Austria Sponsors Austrian Chinese Business Association
The Chinese technology group Huawei and the ACBA Austrian Chinese Business Association have sealed their cooperation at an evening event entitled "Huawei - Inside & Outside" at the Grand Hotel Vienna. Huawei is disputed internationally because of its 5G wireless network technology and its close connection to the Chinese government. Huawei maintains good business relations with the largest carriers in Austria, A1 Telekom Austria (America Movil), Hutchison Whampoa (Drei Austria) and T-Mobile Austria and supplies them with expensive 5G network equipment. In addition, Huawei will open its first flagship store outside China in downtown Vienna in the summer of 2019.
February 27, 2019
Meet UNIDO's Director General Li Yong
Li Yong (李勇), born in 1951, is a senior economic and financial policymaker from the People’s Republic of China. He is the current Director General of UNIDO United Nations Industrial Development Organization, based in Vienna, Austria. Previously he served as Vice-Minister of the Ministry of Finance of the People's Republic of China.
February 22, 2019
Meet the Ambassador of China to Austria: H.E. Li Xiaosi
Ambassador Li Xiaosi (李晓驷) has been Ambassador of the People's Republic of China to Austria since 2016. He has been a career diplomat since 1985 with previous oversees posts in Germany and Switzerland. He speaks Mandarin, German and English.
February 20, 2019
Overseas Chinese in Vienna Celebrate Spring Festival and Start of Year of the Earth Pig
The Chinese Ambassador to Austria, H.E. Li Xiaosi and the Director General of UNIDO, Mr. Li Yong, toasted the Chinese New Year together with Mayor Ludwig and other Viennese Overseas Chinese.
February 13, 2019
The Chinese New Year of the Earth Pig - What Does it Mean?
Since 5 February 2019 we are in the year of the pig according to the Chinese zodiac sign. Celebrated not just in China but overseas in Chinese communities across the world, including Vienna, custom sees every year characterised by one of the 12 spirit animals of the Chinese zodiac. The festivities typically run for two weeks, from New Year’s Eve to the Lantern Festival on the 15th day of the first month.
February 13, 2019
Embassy of the People's Republic of China in Vienna, Austria
Updated address and contact details of the Embassy of the People's Republic of China in Vienna, Austria (中华人民共和国驻奥地利共和国大使馆 / Botschaft der Volksrepublik China in der Republik Österreich), including Political Section, Economic and Commercial Section, Culture Section, Science and Technology Section, Office of the Defence Attaché, Consular Section, Protocol and Administrative Section and the Section of Education.
February 8, 2019
Hallstatt App 2.0 - Protective Measures against Chinese Tourists
The Upper Austrian community defends itself against too many tourists, especially from China and South Korea. Since the Chinese built an exact copy of the city in Guangdong Province, and the South Koreans partly shot a soap opera in Hallstatt, the popularity of the Dachstein community has increased enormously. As a result, more and more tourists come to Hallstatt as part of a bus tour classic with 4 destinations including Hallstatt. In the previous year there were exactly 19,344 coaches. For the first time in the history of Austria, a town is now defending its friendly visitors by implementing the new "Traffic Concept Hallstatt 2018" and by strictly controlling the entrance to the town centre.
January 29, 2019
Pandas of Schönbrunn Zoo Vienna on their Journey to Sichuan, China
The two-year-old panda twins Fu Feng and Fu Ban, born in Vienna, relocated to Sichuan Province in China in transport boxes and by airplane as originally planned.
December 6, 2018
What Does Austria Have to Do with the Silk Road Project?
The Chinese "One Belt One Road Initiative", also known as the New Silk Road, is China's strategic measure of the century to make the entire Euro-Asian region including Africa even more dependent on its products and investments. Now the Austrian Federal Railways (ÖBB), the Vienna Chamber of Commerce and the ambassadors from China and Kazakhstan have joined forces to convince the Austrian population and politicians that the connection of Austria via broad-gauge railway to the Silk Road is an opportunity of the century.
November 30, 2018
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
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