SwissCham News

New PRC Product Liability Law Effective 1st July
23.07.10 - May 2010 - After eight years, China’s long-awaited Tort Liability Law is primed to wholesale regulate tort liability and re-set quality standards for PRC-made products. Clarifications on product liability, punitive damages and statutes of limitation are addressed, but enforcement and integration with existing regulations, along with other vagaries, remain to be tested. [read more]

China Plans Weather Insurance to Help Farmers
20.07.10 - Global losses from natural disasters in 2010 could be three to five times what they were in 2009, said Thomas Hess, chief economist of the world's second-largest reinsurer, Swiss Re. Economically advanced nations tend to purchase more insurance coverage, which helps to finance the costs of reconstruction. Less developed economies can also benefit from insurance coverage, especially if the public and private sectors. [read more]

Switzerland and China Move Closer to Free Trade Talks
19.07.10 - Swiss President Doris Leuthard and Wu Bangguo, Chairman of the National People’s Congress of the People’s Republic of China, speak about the further expansion of bilateral relations. Afterwards Bern is confident that a feasibility study on the launch of free-trade negotiations is advancing. Discussions between both parties in Zurich on Sunday touch on potential areas for development, but not the thorny topic of human rights.
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Promotion and Reciprocal Protection of Investments Agreement
6.07.10 - On 14 April 2010, the Agreement between Switzerland and China on the Promotion and Reciprocal Protection of Investments entered into force. This agreement replaces the original agreement which has been implemented since 1987. It will ensure that Swiss investments in China and Chinese investments in Switzerland are accorded with standards of protection recognized under international law. The main provisions of the agreement cover the handling of foreign investments by the host country, the transfer of capital and investment income, compensation for expropriation and the introduction of new dispute settlement procedures which allows companies to submit the case unilaterally to international arbitration. [read more]