Dear Members and Friends

Many of you are already on your well-deserved winter break, enjoying the abundant white powder in the mountains. Meanwhile, China is gearing up for the nation’s biggest holiday. I would like to share with you some trivia that have an economic impact on one of the world’s largest consumer markets.

Hundreds of millions of Chinese will travel across the country to join their families, covering vast distances. While the country’s manufacturing sector will come to a near standstill in the run-up to the Chinese New Year's Eve on 9 February, the transport infrastructure – air, rail, and highways – will be at its busiest. Restaurants, caterers, and food retailers will have all hands on deck as the 15 days of the Chinese New Year are expected to bring the highest daily sales for all of 2024.

What are we celebrating this year? We will be celebrating the Year of the Wood Dragon. According to Fengshuiweb.uk.com, the Wood Dragon is an extremely creative and curious person who loves to delve into and try out all aspects of life. They tend to come up with very original ideas and put them to good use when they are focused.

This characteristic holds true for all Dragon years, so it’s no great surprise that the birth rate is expected to rise in 2024. By way of comparison, China’s birth rate in the previous Dragon Year, 2012, rose from 13.27 percent the year before to 14.57 percent, before falling to 13.03 per cent in 2013. The Chinese government is hoping for a similar boost, especially as the latest statistics show that China’s population will fall by 2.08 million to 1.4097 billion by 2023.

Even the annual change in the Chinese zodiac sign serves as an indicator of which economies might outperform others. While the 2023 economic performance was disappointing, failing to rebound as expected after the pandemic, and the 2024 forecast is seen as rather lacklustre, there are bright spots based on the above trivia.

At the SCCC, we will be celebrating the Year of the Dragon with events and invitations that have already been sent out or will be arriving in your inbox soon. Following our member survey, we will be focusing on networking opportunities for our members during the Chinese New Year celebrations, ensuring there is plenty of space and time for you to mingle and network.

Other areas of focus going forward will include insights into geopolitical developments with the potential to impact the Chinese economy and trade relations between Switzerland and China. As mentioned in an earlier newsletter, we are reviewing the 2015 strategy and will present the results at the AGM in June. Please stay tuned.

The visit of a strong Chinese delegation to the World Economic Forum gave us the opportunity to meet with high-level officials. These contacts are critical to realising the goals and objectives the SCCC has set for 2024. We are on track to deliver another year of value to our members.

We wish you an abundant, happy, harmonious, and joyful Chinese New Year. May the dragon roar and burn the ground in preparation for a bountiful harvest. The next newsletter will be published at the beginning of March.

Kind regards

cáng lóng wò hǔ

Hidden dragon, crouching tiger. (Lit: to have many hidden talented individuals.)