dragon news - no. 3, 2011

No.032011 Hong Kong:

A business hub in China

20Executive talkHong Kong the obvious choice

22Feature

Her motto: Just do it!

28Feature

Meet six Swedish pioneers

in Hong Kong

Hong Kong has to ride on the mainland’s growth in other ways than it has done in

the past, for example as a trade hub for RMB-denominated products.

M e M b e r M A g A z i n e f o r S w e d i S H C H A M b e r S o f C o M M e r C e i n H o n g K o n g A n d C H i n A

Finnair Plus – Enjoy the benefits of our frequent flyer programme

Join the Finnair Plus programme at finnair.com/plus and get all the benefits right away from your first flight. Finnair is also part of the oneworld alliance together with Cathay Pacific so you may collect Asia Miles on all our flights.

FLY THE SHORTCUTTO EUROPE

Fly the faster, shorter route from Hong Kong via Helsinki to over 50 destinations in Europe.

Finnair is the fast airline that connects you with all major destinations in Europe. Fly smoothly and conveniently via Helsinki with one of Europe’s youngest fleets. See our daily prices and book your

flights at finnair.com/hk, call +852 2117 1238 or contact your travel agent.

Bangkok

Delhi

Nagoya

Seoul

Beijing

Osaka

Shanghai

Helsinki

Singapore

Tokyo

Chongqing

Hong Kong

ADVERTISERS

APC Logistics page 31, Bamboo page 15, Finnair page 2, Electroline page 34

Executive Homes page 47, Geodis Wilson page 17, Handelsbanken page 9

Iggesund Paperboard page 41, Johnny’s Photo & Video Supply page 42

Lotus Travel page 13, Mannheimer Swartling pages 26-27, Nordea page 49

Orrefors Kosta Boda page 19, Primasia page 45, Radisson Blu page 23

Scandinavian Airlines System (SAS) page 52, Scandinavian Furniture page 45

Scania page 37, Scan Global Logistics page 47, SEB page 5

Sigtuna Boarding School page 39, Swedbank page 25

Swedish Trade Council page 43, Vinge page 35, Volvo page 51

Thank you!

APC Logisticsfor your immense generosity shipping and distributing Dragon News in China, Sweden and to Hong Kong.

Direct Linkfor the much appreciated distribution of Dragon News in Hong Kong and Asia.

Iggesund Paperboardfor being the proud sponsor for the paperboard cover of Dragon News magazine in 2009. Cover printed on invercote® Creato 220gsm.

Scandinavian Airlinesfor your generous distribution of Dragon News on SAS flights from beijing to Scandinavia.

The Swedish Chambers of Commerce in Hong Kong and China

PublisherSwedish Chambers of Commercein Hong Kong and ChinaFor advertising inquiries, please contact respective chamber’s officeThe opinions expressed in articles in Dragon News are those of the authors and do not necessarily

reflect the views of the publisher.

Editorial management, design and printingbamboo business Communications LtdTel: +852 2838 4553fax: +852 2873 3329www.bambooinasia.com [email protected] director: Johnny Chandesigner: Victor daienglish editor: Chris Taylor

Cover photo: iStockphoto

INQUIRIESSwedish Chamber of Commerce in Hong Kongroom 2503, 25/f, beA Harbour View Centre56, gloucester road, wanchai, Hong KongTel: +852 2525 0349e-mail: [email protected]: www.swedcham.com.hkgeneral Manager: eva KarlbergMarketing Manager: Märta LangAdministration Manager: Maria Tornving

INQUIRIESSwedish Chamber of Commerce in Chinaroom 313, radisson blu Hotel6A, east beisanhuan road, Chaoyang districtbeijing 100028, People’s republic of ChinaTel: +86 10 5922 3388, ext 313fax: +86 10 6462 7454e-mail: [email protected]: www.swedishchamber.com.cngeneral Manager: Yvonne ChenMember Service & Sales Manager beijing: Karin rooswebmaster & finance Assistant: Jaycee YangAdministration Assistant: Vika Jiao

Shanghai ContactMember Service & Sales Manager Shanghai: Johanna PollnowTel: +86 21 6217 1271fax: +86 21 6217 0562Mobile: +86 1368 179 7675e-mail: [email protected]

Swedish Chamber of Commerce in Hong Kong Swedish Chamber of Commerce in China

CONTENTS No.032011

4

8

38

48

50

editorial

Snippets

new members

After hours

The chamber and i: danyang fang

Cover story:Hong Kong: A business hub in China

10

6 opinion: Lars danielsson

20 executive talk:Thommy Järlefelt, iCA

24 Chamber news

feature: Six pioneers in Hong Kong28

Young Professional interview: Linus Holmsäter

32

Chamber activities in Hong Kong34

Chamber activities in beijing36

Chamber activities in Shanghai37

6

20

22 feature: elby Kwok drewsen, Lotus Travel

10

32

DRAGONNEWS • NO.03/2011 3

Dear Reader,

This issue of Dragon News is dedicated to Hong Kong and the 25th anniversary of the Swedish Chamber of Commerce here.

The chamber has come a long way since it was set up by 44 founding company members. Today, the Swedish Chamber of Commerce in Hong Kong is some 180 corporate members strong, with the addition of 40 individual members and about 100 young professionals. A good reason to celebrate, indeed.

The anniversary’s main events will take place 2-4 November and include an ambitious full-day seminar on corporate social responsi-bility (CSR), another day of factory visits in South China and, on Friday night, a Grand Ball with talented and entertaining stars.

This programme well reflects the overall activities of the chambers in Hong Kong and China: solid business-developing events and then a good party afterwards!

All of this is obviously interesting and well worth participating in. But, perhaps most in-teresting is that, of the factories to be visited, some are proud of being quite knowledge-able about CSR standards while others admit openly they have much to learn.

This willingness to admit to weaknesses is quite a recent development in traditional Chinese face culture. We also see it in the 12th five-year plan, with its tidal-wave shift

EDITORIAL

A year of celebrations – and many more to come

Mats HarbornChairman

Swedish Chamber ofCommerce in China

Stefan RönnquistChairman

Swedish Chamber ofCommerce in Hong Kong

from a focus on cheap production to an emphasis on the environment, high-tech, services and domestic consumption – and the admission of weaknesses in these areas. In short what we see is a striving to learn and climb the value ladder.

This should be good news for Swedish companies.

Talking about the future of the Swed-ish Chamber of Commerce in Hong Kong, Thomas Lagerqvist, a veteran of 16 years as Chairman of the chamber and now Chair-man of the Sweden-China Trade Council in Sweden, says in this issue of Dragon News: “Hong Kong has developed from being the bridge to China and the gateway from China to becoming a business hub in China.”

This is very true, indeed. During the past decade a number of directives have been introduced that are aimed at simplifying Hong Kong-China business in both direc-tions. Note that these arrangements are open to all Hong Kong companies regardless of ultimate ownership, a foresight that mirrors an increasing open-mindedness towards international companies.

Lars Danielsson, the former Swedish Consul-General in Hong Kong, broadens the perspective, adding Taiwan to the party. We’d like to take the opportunity to thank you, Lars, for your involvement in the chambers and your energetic initiatives in pushing for

Swedish business interests in Hong Kong and South China. During your all too short time here, you have enhanced understanding of Sweden in many camps. Thank you, and the best of luck in Seoul!

Moreover, adding to both Lagerqvist’s and Danielsson’s observations, it is possible to go even further and say that Hong Kong’s role, status and location will likely put Swedish companies in an even more favourable posi-tion looking ahead.

In addition to the privileges that arise from being a business hub for Greater China, Hong Kong is becoming a Swedish business hub in Asia. Following China’s lead, the entire region is seeing the rapid rise of modern socie-ties that are eager to shoulder production op-portunities and have growing middle-classes with huge consumption potential.

This arms Swedish companies with a double-edged sword – one edge positioned to slice its way into China’s booming mar-kets and the other into all neighbouring countries from an internationally minded vantage point.

In other words, if the past 25 years have been exciting and rewarding for China, Hong Kong, Swedish companies and the Swedish Chamber of Commerce in Hong Kong, it’s still nothing compared to the years to come.

Welcome to an exciting future!

4 DRAGONNEWS • NO.03/2011

When it’s time to do business, we’re exceptionally open.

Every business has a different story and a different goal. We understand that. Over many years in this market of unique opportunities, we’ve developed the local knowledge, resources and connections needed to turn ambitions into reality. That’s why we’re one of the most well-established northern European banks in the region. For corporates, financial institutions and private banking clients, we’re ready to listen and cater to your needs – in Beijing, Shanghai, Hong Kong, Singapore and New Delhi. Discover more at www.sebgroup.com

Jon

Hic

ks/C

orb

is/S

canp

ix

“The combination of an internationally minded population and a deep knowledge of the world’s fastest growing large economy, China, creates a pool of human resources that is impressive,” says Lars Danielsson when he summarises his three years in Hong Kong as Swedish Consul-General.TExT: Lars Danielsson, [email protected]

have always liked quotes.The ability that some fortunate individuals have

to summarise an interesting or witty thought into one sentence is something that symbolises intelligence,

humour and culture. This is why one of my “saddest” moments in recent years came when it was disclosed that Deng Xiaoping never actually said “It is glorious to get rich”. Evidently, the wide-spread misunderstanding that he actually pronounced these, at the time, sensational words, was the result of bad interpretation and maybe some wishful thinking on the part of the Americans he talked to.

But there is a “real” quote that often has come to my mind during my three years in Hong Kong. Mark Twain said – or rather wrote in a letter – “the reports about my death are exagger-ated”. Hong Kong has been declared “dead” many times, since it became clear in 1984 that the British colony would be returned to China. The handover itself, the Asian financial crisis, SARS – at all these occasions and at other times, self-appointed experts have declared that Hong Kong’s hey days are over.

Why has Hong Kong managed to survive? In my mind, the main reason is that Hong Kong is an open economy with a sta-ble currency. With a trade volume worth more than four times

I

Hong Kong’s most important asset is its people

PHo

To: i

Stoc

kpho

to


Lars Danielsson is, starting September 2011, Sweden’s Ambassador to South Korea after having served for three years as Swedish Consul-general to Hong Kong and Macau.

After entering the Swedish foreign Service in 1980, danielsson served at the Swedish embassy in beijing, at the Swedish repre-sentation to the international organisations in geneva and at the Swedish Mission to the United nations in new York.

from 1994, he served as Ambassador and Senior foreign Policy Advisor to the Swedish Prime Minister. between 1997 and 2000, danielsson was chairman of the Swedish de-fence Committee, where key consultations between government and parliament on defence issues take place. in 1999, he was promoted to State Secretary for international and eU Policy at the Prime Minister’s office and in 2002 he became the Prime Minister’s State Secretary, a post he held until 2006.

Asia will play a much bigger role than before, both politically and

in the global economy.”

PHo

To: P

awel

fla

to

its GDP, Hong Kong is very vulnerable to changes in the global economy. The fact that Hong Kong, through good and bad times, has stuck to the ideal of an open and free economy has gained it an impressive status in Asia.

Another important reason is that Hong Kong has maintained a robust and independ-ent judicial system and a free society with re-spect for individual freedoms and democratic principles. Add to this a society virtually free of corruption and most people will realise that these features are not to be found everywhere in Asia – or in the rest of the world.

The fact that Hong Kong has very stable public finances is also very important in the present volatile global situation. I have often wished that the Hong Kong government would be willing to spend some more money on certain things, but also I have to admit that the motto of a famous former Swedish Prime Minister whom I happen to know quite well – “He who is in debt is not free” –is also applicable to Hong Kong.

The impressive infrastructure that Hong Kong already hosts – plus the im-portant additions of a high speed rail link to China, the bridge to Macau, a greatly expanded subway system and possibly a third runway at the airport – will ensure that a very densely populated place can function in an efficient manner.

But Hong Kong’s most important asset may be its people. The combination of an internationally minded population and a deep knowledge of the world’s fastest grow-

ing large economy, China, creates a pool of human resources that is impressive. It is interesting to note that surveys show that the Hong Kong identity is becoming stronger and stronger.

Of course, everything in Hong Kong is not rosy. Air pollution, sky-rocketing rents and property prices, shortage of international schools are just some of the problems Hong Kong faces.

But my clear impression after three intensive years in Hong Kong is that the advantages of having this place as a base for business operations in Asia in general and China in particular by far outweigh the nega-tive aspects.

I am also very satisfied that the Swedish official presence in Hong Kong now seems to be greater than ever. Our new office in Wanchai, where the Consulate General sits together with the Swedish Trade Council and the Swedish Chamber of Commerce, gives us ideal possibilities to coordinate our actions and be of the best possible service to Swedish businesses and citizens.

And we need to have strong footholds in this part of the world. Even though I am

convinced that the present economic difficul-ties in Europe eventually will subside, we have to accept that in the world of tomorrow, Asia will play a much bigger role than before, both politically and in the global economy.

China will continue to grow. How fast will, in my mind, depends on the ability of the Middle Kingdom to reform its society to make it better equipped to host a more developed market economy. This means that China, in many respects, must be what Hong Kong is today. But we must also learn to understand the varying developments in dif-ferent parts of China. It is not enough to be in Beijing or Shanghai if you really want to make China one of your key markets. You have to be able to appreciate that what is true in Guangzhou or Wuhan may not be applicable in Chengdu or Shenyang.

Add to this the exciting developments in cross strait relations. In an otherwise rather gloomy world, the rapprochement between Taiwan and the mainland is one of the most positive factors in the quest for a more stable Asia. The problems between the two are by no means solved, but the fact that around 700,000 Taiwanese now live and work on the mainland is a testimony to the fact that business sometimes is much more farsighted than politics.

Together with the Swedish Trade Council, I have tried to push for a triangular strategy for Swedish companies that want to do busi-ness with China. With one leg in Sweden, one on the mainland and one in either Hong Kong or Taiwan you can create a stable three-legged chair, utilising the particular benefits of each place.

The strong growth of Swedish business presence in both Hong Kong and Taiwan proves that this works.

I will now set my sails and move on to South Korea to try to further enhance the already lively relations Sweden has with the world’s 13th largest economy. I am fortunate and happy to be able to continue to work in the most dynamic part of the world – a part of the world where Sweden and its companies have a very strong name and reputation.

See you all in Seoul, I hope. b


“You can leave Hong Kong, but it will never leave you.” nury Vittachi, a Sri Lanka-born journalist and author based in Hong Kong. The quote is from his book Hong Kong: The City of Dreams.

QU

OTE

H O N g KO N g S N i p p E TS

Fortune 2007: “Oops! Hong Kong is hardly dead”

image problem for developers n There was a time when the rich property developers in Hong Kong were seen as role models that inspired people to realise their dreams. However, with housing prices skyrocket-ing and the wealth gap getting bigger, the so-called tycoons now have an image problem.

Two out of three people interviewed in a poll conducted by the Chinese University’s Hong Kong institute of Asia-Pacific studies thought developers cared only about making money and nothing about social responsibility.

The survey also found that 85 per cent of the respondents were familiar with the concept of “property hegemony”, which refers to the alleged domi-nance of developers over local politics and the economy.

Project officer Shum Kwok-cheung said to the South China Morning Post that it was up to developers to study why they were perceived in such a negative light despite the huge investment they had made in building Hong Kong society.

Did you know … n … that there were 44 founding members of the Swedish Cham-ber of Commerce in Hong Kong 25 years ago? Here they are: Advokatfirman Vinge, Alfa Laval, ASeA-Hägglund, ASeA, ASg, ASSAb Steels, Atlas Copco, Axel John-son Corp, Cimbria Motors, dobber international, ekpac, electrolux, elof Hansson, ericsson, eSAb, gadelius, götabanken, H&M, iKeA Trading, iMAC, Kamewa, Kanthal electroheat, Kemklen industrial Supplies, Kinsan Collections, Kooperativa förbun-det, Lawe william, Marinteknik international, PK international, SArA Hotel Management, Scandina-vian Airlines System, Scandinavian far east, Scan dutch, Skandia, Skanska, SKf, Stabilator, Sukab, Svecia, Svenska Handelsbanken, Swedish Motors, Swedish Pulp & Paper Association, Swedish Trad-ing, Tang’s Sportwear, Tetra Pak.

University of Hong Kong best in Asia n Asian universities still have some way to go before they reach the status levels of the top universities in the UK and the US. but, in the meantime, the University of Hong Kong (HKU) is ranked as Asia’s top university by the research firm QS world University rankings, which lists 300 top universities around the world.

HKU ranks at 22nd place with Chinese University of Hong Kong at 37th and the Hong Kong University of Science and Technology at 40th place. China’s highest ranked institutions were Peking University and Tsinghua University at 46th and 47th place. The top three universities on the list were University of Cambridge, Harvard University and Massachusetts institute of Technology.

Fortune 1995: “The death of Hong Kong” n on 26 June 1995 Fortune magazine published an article titled “The death of Hong Kong”.

Less than 750 days remained before “britain’s handover of Hong Kong, the world’s most aggressively pro-business economy, to China, the world’s largest still officially com-munist dictatorship” and the writer concluded, “The naked truth about Hong Kong’s future can be summed up in two words: it’s over.”

The article predicted that Hong Kong would become “a captive colony of beijing” and was “destined to become a global backwater”.

The article continued: “what will change after midnight on June 30, 1997? everything. within months of the transi-tion to Chinese rule, the now dominant use of english, the universal language of business, will give way to far more extensive reliance on Cantonese and Mandarin.” it quoted an investment banker who said: “There won’t be as many foreigners around, and there certainly won’t be as much of a level playing field for businesses started by foreigners.”

The magazine predicted that “troops of the People’s Liberation Army, which has already formed links with the powerful local criminal gangs known as ‘triads,’ will stroll the streets.”

n in June 2007, 12 years after the notorious Fortune article “The death of Hong Kong” and 10 years after the handover, the magazine had to admit that they were wrong and that Hong Kong was thriving more than ever.

in an article named “oops! Hong Kong is hardly dead”, the magazine concluded: “Hong Kong is far from over and hardly dead. what’s clear is that economic concerns have won, and that - at least economically – China has left Hong Kong

alone to thrive under its ‘one country, two systems’ pledge.”regarding political developments, it said in the article

that “beijing’s role in handpicking the government hasn’t translated, as many had feared, into interference in the judi-cial system or the press, which remain largely independent. Longer term, China’s leaders seem to want Shanghai to take a more dominant position as the country’s financial capital.

“but for now,” the article concluded, “to paraphrase American writer Mark Twain, reports of Hong Kong’s death have been greatly exaggerated.”


Your Nordic Bank in Greater ChinaWe have been operating in Greater China for nearly 30 years. Today we are the Nordic bank with the largest presence in the region. As your banking partner we are here to help your business succeed. Banking with us you benefit from local knowledge and experience as well as a high level of flexibility and personal service. We strongly believe in long term, two-way relationships in the traditional way. Our offering includes full-service corporate banking, from all types of financing to a wide range of cash management services. As an experienced member of the local clearing system, our payment services are second to none. Contact us to find out more about how we can help your business. Dan Lindwall, Head of Greater China and General Manager Hong Kong branch, +852 2293 5388Stephen Chan, Head of Corporate Banking Hong Kong branch, +852 2293 5322 Johan Andrén, General Manager Shanghai branch, +86 21 6329 8877 Catherine Gao, Deputy Branch Manager Shanghai branch, +86 21 6329 8877Jason Wang, Chief Representative Beijing, +86 10 6500 4310Amy Chen, Chief Representative Taipei, +886 2 2563 7458

www.handelsbanken.cn

Stephen ChanHead of Corporate Banking

Hong Kong branch

Dan Lindwall Head of Greater China and

General Manager Hong Kong branch




Hong Kong branch






Hong Kong branch



TExT: Jan Hökerberg, Bamboo, [email protected]

Hong Kong: A business hub in China

Hong Kong has to ride on the mainland’s growth in other ways than it has done in the past. But Hong Kong also has to put its own house in order.


Hong Kong: A business hub in Chinawenty-five years may not seem long in a historical sense, but if we go back two-and-half dec-ades in the archives it actually

feels like a very long time ago.The year 1986 was when the Swedish

Prime Minister Olof Palme was assassinated, the year in which the Chernobyl nuclear power plant in the then Soviet Union melted down and ultimately killed more than 4,000 people, and also the year in which the American space shuttle Challenger disinte-grated 73 seconds after launch, killing the crew of seven astronauts.

It was also the year in which the Swed-ish Chamber of Commerce in Hong Kong was founded.

At that time, the city of Hong Kong belonged to Britain and would do so for 11 more years. The city’s skyline was sprouting new skyscrapers – for example, Exchange Square, the Hong Kong Club Building and the HSBC headquarters – but much of Hong Kong was still unexploited.

The manufacturing industry’s competi-tiveness gradually declined in Hong Kong due to the development of manufacturing in southern China from the early 1980s.

But Hong Kong has always been good at managing change, from its early role as an opium trading hub to becoming a trading and shipping port and then, some 50 years ago, a manufacturing centre. When the manufacturers moved their operations across the border in the 1980s and 1990s, Hong Kong transformed itself into a financial and services hub and managed to place itself in an exclusive role as a bridge between China and the world.

The exclusiveness of the role was somewhat dimin-ished with China’s accession to the World Trade Or-ganisation (WTO) in 2001, which made it easier for international companies to establish themselves directly on the mainland.

However, over the past decade, Hong Kong has also served as an important platform for Chinese com-panies going global. Mainland Chinese companies looking to go international are increasingly expanding to Hong Kong, using it as a testing ground before entering the global market.

Furthermore, the Hong Kong Stock

Exchange main board has become the top choice for mainland companies listing in for-eign markets. The number of mainland com-panies doing initial public offerings (IPOs) in Hong Kong jumped to 82 in 2010, which was almost four times the number in 2008, according to a report from the investment consulting firm ChinaVenture.

“Hong Kong has developed from be-ing the bridge to China and the gateway from China to becoming a business hub in China. Hong Kong is today very dependent on China and this development has gone faster than most people had expected,” says Thomas Lagerqvist, who has more than 20 years experience in China-related matters and is

chairman of the Sweden-China Trade Coun-cil and special counsel at the Mannheimer Swartling law firm..

“Hong Kong’s attitude towards China has also changed. Hong Kong was tradi-tionally not mentioned in China’s five-year plans as under the framework of ‘one country, two systems’, the central govern-ment did not and should not incorporate Hong Kong in any national administrative planning,” says Lagerqvist.

However, China’s 11th Five-Year Plan from 2006 to 2010 officially endorsed, although very briefly, for the first time, the functions and status of the two special

T

82The number of mainland

companies’ initial public of-ferings (iPos) in Hong Kong

in 2010, which was four times more than in 2008.


administrative regions (SARs) of Hong Kong and Macau and mapped out Hong Kong’s continued functions as an international centre for financial services, trading and ship-ping and for the development of logistics, tourism and information services.

both Swedish banks in Hong Kong, Han-delsbanken and Seb, established them-selves there in the 1980s with representa-tive offices and branch offices. but while Seb, along with many other banks, left Hong Kong in the aftermath of the Asian financial crisis at the end of the 1990s, Handelsbanken stayed and has, since 2000, been the only nordic bank in Hong Kong.

However, Seb has now returned and its branch office will be inaugurated later this year, on 11 november.

“Handelsbanken has a long-term view in everything we do and that was a reason why we stayed in Hong Kong. we follow our customers and as long as they stay in Hong Kong, we stay,” says Michael zell, who retired after three years as Handelsbanken’s general manager for greater China on 1 September and was succeeded by dan Lindwall.

Handelsbanken was also the first Swedish bank to set up a branch in China, when its Shanghai branch was inaugu-rated in 2005. The bank has also a branch in Singapore and representative offices in beijing and Taipei.

SEB returns to Hong Kong

For 11 years Handelsbanken has been the only Nordic bank in Hong Kong, but it will now be joined by SEB.

Hong Kong has become

more important as an international financial centre.”Carl Christensson, Seb

in total, the bank employs some 35 peo-ple and provides a full range of services, such as payments, cash management, fi-nancing, trade finance and treasury opera-tions for corporate customers and financial institutions, with particular attention given to nordic- and UK-related businesses.

The wealth accumulation that is taking place Asia and the opportunities it will

bring is an important reason for Seb to return to Hong Kong.

“Hong Kong has become more impor-tant as an international financial centre. Many financial institutions that we work with, such as hedge funds and asset management companies, have moved to or strengthened their positions in Hong Kong and we want to support them by be-ing here,” says Carl Christensson, head of Seb’s Hong Kong branch.

Christensson, who previously held the same position at Seb’s Shanghai branch when it was established in 2005, will employ some 30 people in the first stage, and the bank will offer its institutional and corporate clients, mainly in the nordic countries and germany, a wide range of services, including cash management, trade finance, foreign exchange, fixed income, corporate finance as well as futures and securities finance.

in total, Seb has 170 employees in Asia in its branch offices in Shanghai, Hong Kong and Singapore and its representa-tive offices in beijing and delhi. The Asian operations will be coordinated from Hong Kong with Hanse ringström as head.

In the 12th Five-Year Plan, which was promulgated in March 2011, there was a whole section (Chapter 57) dedicated to Hong Kong and Macau, elaborating on the significant functions and positioning of Hong Kong in terms of development

strategy for China (see separate article).“This was something that Hong Kong’s

business elite, together with the govern-ment, had lobbied hard for over a long period of time. There is a keen awareness among businessmen in Hong Kong that the

Carl Christensson (right) with staff at the new SEB office in Hong Kong.


Bring your team to China!By visiting China you’ll get an unique experience in understanding the local culture which is of great importance and advantage when making business connections. Bring your Scandinavian team to China! Lotus Travel has more than 20 years of experience in arranging company study tours in China and Asia, and is the only Scandinavian travel company with offices in Beijing and Shanghai. With our local offices we will organize and plan the journey according to your wishes and needs.

Lotus Travel helps you to arrange • Flights/hotel bookings• Transports, excursions and activities• Dinner- and evening activities• Project managing conference travel• Study visits and lectures• Business meetings with appropriate companies• Visa

+46 8 545 188 40WWW.LOTUSTRAVEL.SESTOCKHOLM•PEKING•SHANGHAI

“It’sanadvantageforustoengageasupplierwhoiscompetent in logistics, business as well as culture. Lotus Travel’s personnel has great knowledge of China and the West, which is of great importance when visiting companies as well as participating in events and other activities in China”. - Helena Anderberg, CEO Novare Academy has lead several field study visits and business meetings in China and India.

Your guests deserves the best of SwedenScandinavian Perspectives is a leading Quality Destination Management Company with more than 20 years of experience in handling incoming business for delegations and visitors to the Nordic countries. Whether the travel purpose concerns business meetings, study visits, events or leisure, we provide our clients with local expertise and knowledge. This in turn creates the best prerequisites for you and your business partners during their visit to Scandinavia.

For more information visit our websitewww.scandinavianperspectives.comStockholm: +46 8 545 28 180 Beijing: +86 10 6460 6281 Shanghai: +86 21 5234 0985

in february, Handelsbanken became the first european bank outside the UK to issue a so-called dim sum bond in China, named after the bite-sized dumplings loved by the city’s residents. A total of 170 million yuan (or renminbi, rMb) was issued, with a maturity of two years.

“it was sold out in two hours and oversubscribed six times. our customers shall feel that we know this market and it benefits them when we can get access to local capital,” says Michael zell, the bank’s former general manager for greater China.

A dim sum bond is denominated in Chinese yuan and issued in Hong Kong.

dim sum bonds are attractive to foreign investors who desire exposure to yuan-denominated assets, but are restricted by China’s capital controls from investing in domestic Chinese debt.

The dim sum bond market is still in its infancy but is expected to grow rapidly. The bonds have been safe invest-ments and therefore not that exciting for investors. but a recent liberalisa-tion allows non-financial companies to raise yuan in Hong Kong and plough proceeds back into the mainland, radically changing the market.

“This is a train that has started rolling and it will be important for our customers to get aboard. it opens a new large funding market when they can finance investments in China in rMb without taking exchange

rate risks,” says dan Lindwall, new general manager for Handelsbanken greater China and former head of Corporate Capital Mar-kets at headquarters in Sweden.

It is estimated that 80 per cent of all commercial trading in rMb is done through Hong Kong and in the first half of 2011 there were 553.6 billion yuan deposited in banks in Hong Kong, compared to 315 billion in 2010 and 63 billion in 2009.

dim sum bonds are just one of several instruments

in the offshore rMb market for which Hong Kong has become a centre. China’s Vice-Premier Li Keqiang announced in August, during a visit to Hong Kong, more than 30 new measures to boost Hong Kong’s economy by encouraging two-way invest-

Growing appetite for dim sum bonds

The greater availability of yuan-denominated products boosts Hong Kong’s role as a yuan trade hub.

Hong Kong has developed from being the bridge to China and

the gateway from China to becoming a business hub in China.”Thomas Lagerqvist, chairman, Sweden-China Trade Council

city needs to be part of the development in the world’s second largest economy and be able to grow along with it and reap its own rewards,” says Lagerqvist.

Besides mentioning the pillar industries of Hong Kong, the five-year plan also gives support for Hong Kong’s development into an offshore yuan business centre (see separate article) and an international asset management centre, as well as nurturing emerging industries and deepening the economic co-operation between the mainland and Hong Kong.

“It may seem a bit odd that Hong Kong, as a capitalism capital of the world, voluntarily and actively prefers to be part of a government-planned economy in a communist country. But Hong Kong’s challenge is now how to be a professional facilitator that makes business easier in all directions. Hong Kong has to ride on the mainland’s growth in other ways than it has in the past and the best place to be is in the five-year plan,” says Lagerqvist.

As a business hub in China, Hong Kong can contribute by giving China access to modern technology, innovation and creativity, areas where China is facing difficulties making progress entirely on its own, largely due to its political system. Hong Kong can help China to deliver the imperatives set up in the five-year plan.

553.6billionThe amount of yuan

deposited in Hong Kong banks first half of 2011.

>

PHo

To: g

erha

rd J

örén


Marketing is necessary if you want your business to grow. But marketing is like planting bamboo. In the first six years, the seedlings only grow about 12 inches high. Then suddenly in the seventh year the bamboo sprouts to six feet tall.

In marketing, it also takes time for results to appear. Prospects need to see your name many times before they remember you and recognise your value.*

Our company, Bamboo, can help you with that. It is our business is to help our clients build long-term relationships with their customers, staff and other stakeholders.

* The similarity between marketing and planting bamboo was originally conceptualised by George Torok, a marketing expert and co-author of the book Secrets of Power Marketing.

Bamboo Business Communications Ltd (Hong Kong) +852 2838 4553Bamboo Business Consulting (Shanghai) Co, Ltd +86 21 6472 9173Jan Hökerbergmanaging [email protected] Olaussonsales and marketing [email protected]

Marketing is likeplanting bamboo

ment and trade between Hong Kong and the mainland and strengthening the city’s role in the internationalisation of the yuan.

“The offshore rMb market is very interesting for us,” says Carl Christensson, head of Seb’s Hong Kong branch. “Many of our customers in China suffer from not being able to find long-term financing. by being active on this market we can help them to bring capital into China.”

A new currency code, CnH, has also been introduced. CnY is the bank code for the yuan that is traded onshore in China. The new CnH code represents the exchange rate of the yuan that trades offshore in Hong Kong.

Already in 2009, Seb was one of the first banks – and the only nordic bank – to launch cross-border trade settlement in CnH, and that has gradually been expanded to now include a range of services within cash management, trade finance and foreign exchange. in March 2011, Seb was one of the first international banks to offer electronic foreign exchange trading for CnH on the so-called Trading Station platform.

Hong Kong started to operate rMb businesses seven years ago and the market has now begun to take shape. in 2004, Hong Kong’s financial institutions were authorised to conduct deposit-tak-ing, remittance, currency conversion and bank card businesses. Hong Kong has also become a designated offshore rMb clear-ing centre. in 2007, the issuance of rMb bonds in Hong Kong by mainland financial institutions marked the extension of the business scope to include investment. in 2009, Hong Kong further became the sole proving ground for cross-border rMb trade settlement and started to operate rMb trade settlement and finance.

“The development over the past three years has gone very fast. Since China led the world out of the global financial crisis we have seen a new world currency being

born and a whole new capital market is taking shape at the moment. for a banker, it can’t be much better,” says zell of Handelsbanken.

The exchange rate of the rMb has, since 2005, been allowed to float in a narrow margin around a fixed base rate deter-mined with reference to a basket of world currencies. The Chinese government has announced that it will gradually increase the flexibility of the exchange rate.

whether the yuan will become fully convertible is, however, a “64-million-dollar question”. Some observers think it is unavoidable while others point out the risks that a deregulation would open it up

for international currency speculators.China’s State Council announced in

2009 its plan to develop Shanghai into an international financial centre by 2020. The central government will encourage Shanghai to liberalise the financial mar-ket, which will include developing several financial derivatives and commodities futures as well as allowing foreign compa-nies to list on the stock exchange.

However, unless the yuan is fully convertible, it will difficult for Shanghai to fulfil beijing’s aspirations.

“As long as there is no free flow of capital, people and information, and the currency is not fully convertible, it will be difficult to

However, Hong Kong’s government needs to puts its own house in order. There is wide-spread criticism that collusion between power-ful developers and the government ignores the widening wealth gap and does not take sustain-ability and environmental issues seriously.

Even China’s Premier Wen Jiabao has, in discussions with the SAR government,

A whole new capital market is taking shape at the moment.

For a banker, it can’t be much better.”Michael zell, Handelsbanken

brought up “Hong Kong’s deep-rooted problems”, noting that the leaders should not ignore Hong Kong’s need for develop-ment and more economic diversity.

“While Hong Kong has a good capac-ity to develop technology in university laboratories, Hong Kong does not have a meaningful critical mass that would allow

it to become a technology hub. Hong Kong has made some progress in technology but seems to have fallen behind in terms of com-mercialisation capacity. This means that the universities use government money to invent and develop, but then end up selling the results ‘cheap’ to mainland and international companies,” says Lagerqvist.

>


C

M

Y

CM

MY

CY

CMY

K

Dragon News Ad_210x286mm_version2-OP.pdf 1 19/04/2011 2:21 PM

The dedicated Chapter has iconic sig-nificance for the future development of Hong Kong, as embodied in the following three major areas:- The dedicated Chapter emphasises the Central Authorities’ support for Hong Kong in consolidating and enhancing Hong Kong’s competitive advantages, including consolidating and enhancing Hong Kong’s position as an international financial, trade and shipping centre, and support for Hong Kong’s development into an offshore renminbi (rMb) business

centre and an international asset man-agement centre.- The dedicated Chapter emphasises the Central Authorities’ support for Hong Kong in nurturing emerging industries and developing the six industries where Hong Kong enjoys clear advantages.- The dedicated Chapter emphasises the Central Authorities’ support for deepen-ing the economic co-operation between the mainland and Hong Kong; continuing the implementation of the Closer eco-nomic Partnership Arrangement (CePA).

Hong Kong in China’s five-year plan

Below is China’s outline of the 12th five-year plan dedicated to Hong Kong and Macau.

regard Shanghai as an international finan-cial centre. Shanghai will, however, play an important role as a domestic financial centre, especially if there is a gradual deregulation of the banking system in China,” says Christensson of Seb.

“Although Chinese officials apparently have publicly stated that the rMb will be fully convertible by 2015, there are many issues related to such a move as it can threaten the stability of the Chinese economy. Up until 2020, China’s annual gdP growth is expected to stay at a high level, between 6 and 9 per cent. with such strong growth, China will be able to handle non-performing loans in the banking system. does China then dare to open up its capital system? The risk is that capital will disappear from China, that financing will be more expen-sive, companies will face difficulties to survive and there will be more bad loans in the system,” says Christensson.

both zell and Lindwall of Handelsbank-en are, however, convinced that the rMb will be fully convertible before 2020.

“China is handling the proceedings in an orderly way, and has so far been successful. The country wants to build a deep and broad market so that it can protect itself from speculators when they go live. China will then be able to realise the positive aspects of a convert-ible currency,” says Lindwall.

This is a train that has started rolling and it will be important

for our customers to get aboard.”dan Lindwall, Handelsbanken

Hong Kong also faces problems with increased air pollution and a shortage of places in international schools, both of which negatively affect the city’s competi-tiveness and its ability to attract the best talent from outside Hong Kong.

There are around 350,000 expatriates in the city, but only about 35,000 places at international schools. Many of those places are taken up by local families keen to get their children an international education.

The South China Morning Post recently reported that the lack of international school places could undermine Hong Kong’s long-term development as a regional busi-ness centre. The article cites surveys carried out on behalf of the British and Canadian Chambers of Commerce that indicate that this issue is having a detrimental impact on both the international business community’s perception of Hong Kong and its willing-ness to locate their operations there. b


TExT: Jan Hökerberg, Bamboo, [email protected]

In 2007, the Swedish-Dutch retailer giant ICA set up an Asian sourcing head office in Hong Kong. Managing director Thommy Järlefelt says that for ICA, Hong Kong has many more advantages than other cities in the region.

Hong Kong the obvious choice

o to any ICA store in Sweden or Norway and you can be sure of that many of the goods originate from China or other

Asian countries. From its head office in Hong Kong, ICA Global Sourcing Ltd is handling some 5,000 different articles – everything from crayfish to clothes – for ICA and retail brands in the Baltics, the Netherlands, the Czech Republic and Slovakia.

“We do sourcing, purchasing, manufac-turing and quality control and work with some 450 factories in Asia. Most of our items are non-food products, but the last couple of years we have seen a rapidly growing demand for more food,” says Thommy Järlefelt, man-aging director.

He has led ICA Global Sourcing since it was established in 2007. Today, the company has 74 employees in Hong Kong, Shanghai and Ho Chi Minh City in Vietnam, but that number could grow before the year-end since the company is evaluating an establishment in Bangladesh, India or Pakistan.

Järlefelt is, however, not a newcomer to Asia. He has been based there for 10 years.

Born in 1963 in Stockholm, after gradu-ation with an MBA from Stockholm Uni-versity in 1989 he was employed by the co-operative union, Kooperativa Förbundet (KF) as product manager for electrical appliances.

In 1995 he relocated to Hong Kong to work for Intercoop, a buying office and service organisation for the Scandi-navian, Italian and Spanish cooperatives. He spent six years in Hong Kong with his wife Lotta. Their first son, Joachim, now 11 years old, was born in Hong Kong and their second son, Jesper, nine, was born right after the couple had moved back to Sweden in 2001.

Back in Sweden, Järlefelt held various managerial positions within Coop Norden, a joint purchasing company, owned by KF and cooperative retailers in Norway and Denmark. Four years later, in 2006, he was

recruited by KF’s leading competitor, ICA.“Leaving KF and going to ICA was like

going from Manchester City to Manchester United in football …” he says.

ICA and its Dutch shareholder Royal Ahold NV had decided to set up a joint sourcing company in Hong Kong and wanted Järlefelt to be in charge. Previously, ICA had

worked with distributors and agents in Asia.

“It was an offer that fit our family situation very well. Lotta and I had always liked Hong Kong and our boys were older and ready to move abroad,”

says Järlefelt.The family moved in 2007 and settled

in Repulse Bay on Hong Kong Island. Lotta is today a project manager at Ericsson Ltd and the children attend the English-language Bradbury School.

Hong Kong was the obvious choice for the new company’s head office.

“We looked at Shanghai as well, but there were many more advantages with Hong Kong. The city has a good infrastructure and much of our production is right across the border. In Hong Kong you can get compe-tent and knowledgeable employees and there is also continuity among the staff. In our Shanghai office we have had problems with retaining talent,” says Järlefelt.

G

5,000The number of articles that iCA

global Sourcing is handling.

Leaving KF and going to ICA was like going from Manchester City

to Manchester United in football …”


About a decade ago, ICA was mainly a grocery store chain and the food was largely produced locally. However, with the expansion of the Maxi ICA hypermarkets, ICA’s offer-ings today are increasingly non-food products. Maxi was established in the mid-1990s and today there are 72 stores around Sweden.

ICA is a unique concept in Sweden insofar as the store managers own the stores and can become shareholders. Many are very successful and in the Swedish countryside in particular the ICA store is often the focus of social activity.

“ICA has managed to listen very carefully to the customers’ needs and has a market share in Sweden of almost 50 per cent,” says Järlefelt.

ICA’s office is in the China Hong Kong City building in Tsimshatsui, which also hosts a cross-border ferry terminal.

“The location is perfect for us since we make frequent trips to China,” says Järlefelt, who estimates that 65-70 per cent of the prod-ucts his company handles come from China.

“Even if costs have increased sharply in China over the past years and labour shortages are a big problem for many factories, China is still very competitive in many areas. However, in certain areas where the production is more labour-intensive it makes sense to source from other markets in Asia,” says Järlefelt.

ICA Global Sourcing is responsible for the quality of the products and for the working con-

iCA global Sourcing Ltd is a wholly owned subsidiary of the iCA Ab group. iCA Ab group is owned by Hakon invest (40 per cent) and royal Ahold n.V. of the netherlands (60 per cent).

iCA global Sourcing Ltd manages sourcing, order follow-up, quality assurance and CSr functions for iCA Ab in Sweden, norway and the baltic States, the dutch retailer Albert Heijn and the retail brands Albert and Hypernova in the Czech republic and Slovakia.

iCA Ab operates 2,300 stores in five store concepts: hypermar-kets, superstores, supermarkets, convenience stores and discount stores. besides, Albert Heijn oper-ates 850 stores and Albert/Hyper-nova 325 stores.

We have seen huge

improvements in the factories in China.”

ditions in the factories the company deals with.“We have seen huge improvements in the

factories in China. Some factories we work with in Guangdong, Zhejiang and Fujian provinces are very good, even if the old-style sweatshops still exist,” says Järlefelt.

Corporate social responsibility issues have been high on the agenda over the past five years and the Chinese factories do what they can to fulfil the demands of foreign-owned companies.

“Most foreign-owned companies have very ambitious CSR programmes, but the problem is that they differ from each other and that there is not yet a global programme in force, although discussions aimed at launching a global initiative are ongoing. Many factories experience an ‘audit fatigue’ with social auditors visiting all the time. Harmonisation in this area would make it a lot easier for the factories,” says Järlefelt. b

More than 3,000 stores


The entrepreneur

Elby Kwok Drewsen has made an incredible journey, from a child of a poor

family in Hong Kong to a successful business woman in Sweden.

TExT: Pao-Ling Röjdmark, [email protected]

Her motto: Just do it

lby Kwok Drewsen was born in Hong Kong to a poor family and she had four younger brothers. She started to work at the age

of 14 to support her family. However, she wanted to make up for missing school so she took evening courses while working full time at a factory.

A few years later she got a job as a clerk at a big American insurance company. She found it fascinating, with all the positions in the organisation that could possibly pave her career path. All she needed to do was to work hard, she thought.

Kwok Drewsen did work hard and became an executive secretary at a Swedish company in Hong Kong. In 1987, she met and fell in love with a Dane who lived in Sweden. The couple got married and moved to Sweden, where she assisted her husband in his freight forwarding business.

When she came across an opportunity to go into the travel business for the company’s customers, Kwok Drewsen quickly found her-self more interested in working with people than with cargo. That’s how the concept of Lotus Travel was born. The couple decided to move to China with their two children to set up offices in Beijing.

But the marriage didn’t work out and in 1997, after five years in Beijing, Kwok Drewsen moved back to Sweden with her children and became CEO of Lotus Travel. The company grew into a market leader for tours to China and Kwok Drewsen has also founded Scandinavian Perspectives, a destina-tion management company.

In Sweden, Kwok Drewsen has been honoured with the Business Woman of the Year Award 2006 by Veuve Clicquot and the Woman of the Travel Industry Award 2007.

Has your background helped you in your career?“Coming from Hong Kong, I have inherited the ‘can do’ attitude; everything is possible and everyone is hard working. You just do it. I easily adapt to a new environment and have the ability to understand people and things around me. Sweden is not my native country. To sell in Sweden we have to understand how Swedes think and how they perceive our mes-sage and image, and therefore I listen a lot to my team. We have created a friendly and open atmosphere in our offices.

“Both in China and Sweden, my col-leagues have been amazed at my persistence in not giving up and trying new things. Setting good examples is an important quality as a leader. I like to think ‘if I could do it you could too’. Persistence, maintaining high qual-

Elby Kwok Drewsen has been honoured

with two prestigious awards in Sweden. E


ity and customer focus are ingredients of our success; over 30 per cent of our customers are recommended by former travellers.

“First of all you have to be optimistic and believe that you can do what you envision. You don’t want to let go of opportunities. Do business with a good conscience towards your colleagues, customers and suppliers.”

What is your advice to other entrepreneurs?“Entrepreneurs like and dare to take opportu-nities and we work hard. Do a feasibility study for what you want to do. Make decisions based on your prerequisites. Be persistent and give yourself time not to give up easily and talk to the people who have experience. Do the things that you are good at and don’t be afraid of your own weaknesses – you need others to complement you with their strengths.”

How is your business developing?“It has been both sweet and bitter-ness over the past five years. My business and personal achievements were at all-time-high during 2006 and 2007. We had at least 30 per cent growth for many years and I received two prestigious awards. There were several

Coming from Hong Kong, I have inherited the ‘can do’ attitude;

everything is possible and everyone is hard working.”

approaches to acquire my company. I declined the offers with pride, because I wished to develop an organisation that was less depend-ent on my involvement. I was preparing for expansion and invested heavily in upgrading

of IT systems, recruitment of staff and training. In 2008, the global financial crisis struck. The business was hit and faced with sharp de-cline in sales. 2008 and 2009 were two very tough years. But instead of giving up, I chose to strengthen the company by inviting corporate experts and established an advisory board led by Meg Tiveus [a suc-

cessful Swedish female business leader].“The outbreak of SARS in China in 2003

was also a big challenge. It could have turned out to be fatal to our business. Sales simply stopped overnight. No one wanted to go to

China and we didn’t know how long it would last. But we managed to turn the risks into opportunities and were one of the first com-panies in the world to resume travel-group tours to China. In the very same year, Lotus Travel became the biggest China-specialist tour operator in Sweden.”

If you could start from the begin-ning what should you have done differently?“I am quite happy with what I have: my colleagues and my family. In the company, we are working hard on recovering from the economic depression. In retrospect, I should have looked for more advice regarding invest-ment for expansion. If I had the experience and knowledge that I have today, I would have done things differently. The good thing is that I am wiser now.” b

14The age when elby

Kwok drewsen started to work.


Beijing/Hong Kong/Shanghai

n it is a time of changes at the Swedish Chamber of Commerce in China.we would like to say thank you to Carina Järold-Mattsson, who after five years

will be leaving the chamber in Shanghai for new challenges. At the same time we take the opportunity to welcome her successor, Johanna Pollnow. Johanna has wide experience in sales and marketing and has lived in Shanghai with her hus-band and daughter since March 2011.

in late spring, the beijing chamber office was reinforced by a new colleague, Vika Jiao. She will hold the position of Administration Assistant and at the same time, twice a week; continue her studies at the Peking University toward a bach-elor degree in english in July 2012. we are happy to have you with us.

goodbye also to Philip Hafstad and welcome to erik Hellstam. Philip, our Anders wall Scholarship recipient, has been working in the Shanghai chamber office for nine months. in mid-June he left the chamber for new adventures as Country Man-ager for giA (Shanghai) Trade Co, Ltd.

erik Hellstam is our new Anders wall Scholarship holder. erik comes from Ängelholm in the Swedish province of Skåne and holds a Master of Science in business and economics from Lund University. erik has been studying and work-ing in China and Asia and speaks Chinese as if he has already been in China for many years. He started his position on 1 September.

Thank you and welcome!

At home with the chamber.

n on 2-4 november, SwedCham Hong Kong celebrates its 25th anniversary with a corporate social responsibility (CSr) event and a gala dinner. Here is the programme:

wednesday 2 november 2011, at the HKTdC SMe Cen-tre, Hong Kong Convention and exhibition Centre:Corporate responsibility in Asia – a practical approach with experience sharingfull-day seminar and breakout sessionsModerator: Christine Loh, Ceo of Civic exchange, a think-tank in Hong Kong. Loh is a leading voice in public policy in Hong Kong, particularly in promoting democracy and environmental protection.

Keynote Speakers are Liang Xiaohui, Chief researcher, office for Social responsibility, China national Textile and Apparel Council, beijing, and dr Lisa emelia Svensson, Swe-den’s Ambassador for Corporate Social responsibility.

for the full programme, please visit: www.swedcham.com.hk

Thursday 3 november 2011:Full-day factory visit tour in the Pearl river delta region.

friday 4 november 2011:fantastic Gala Dinner at the Aberdeen Marina Club – an evening filled with celebra-tions and surprises!

Big celebrations ahead

n The Swedish Chamber of Commerce in Hong Kong has recently moved and is happy to share offices with the Consulate general of Sweden and the Swedish Trade Council. feel welcome to visit us at room 2503, beA Harbour View Centre, 56 gloucester road in wanchai.

Thank you to AJ Produkter for generously providing the office furniture and to geodis wilson for the shipment from Sweden to Hong Kong!

New office in Hong Kong

Johanna Pollnow Erik Hellstam Vika Jiao

Christine Loh will be modera-tor at the CSR seminar.


Swedish banking in ChinaWe feel at home in the Chinese market and want you to feel the same. It’s a large and fast-growing market. As a result, more and more Scandinavian companies need banking solutions, such as cash management, financing in local and foreign currencies, trade finance and treasury solutions in China. We’ll help you – bring-ing our 20 years of experience of business in China. If you have the opportunity, please visit us in Shanghai where we’ve been located since 2001.

Swedbank ShanghaiCitigroup Tower 601,

33 Huayuanshiqiao Rd. Shanghai, China

+ 86 21 386 126 00

what’s new?We are pleased to announce that five lawyers have recently joined our team in China. The addition of these practitioners – with their diverse experience and backgrounds – ensures our team in China is even better positioned to handle the signifi-cant increase in matters and projects.

Our Banking & Finance practice has extended its geo- graphic coverage and now is present on the Chinese market with a dedicated team in the Shanghai and Hong Kong offices. Mikael Lindgren, a Swedish banking lawyer, has relocated from the firm’s office in Stockholm to join the group. In the coming months, they will also receive support from André Andersson, head of the firm’s Banking & Finance practice, who will be increasing his presence in the region.

Mikko Harju will join the firm in September. He moved to Beijing in 1997 to assume the role of Director Legal, Greater China Area for Nokia. He also has been the chief

representative of HS International’s Beijing and Shanghai offices and the Head of the China Desk for a Finnish law firm. Most recently, he has headed the Legal, M&A and Risk Management department of Finnish industrial corporation Kone in Greater China.

Linda Lundin has joined our Hong Kong office as a Senior Legal Assistant. Linda is seconded from the firm’s Öresund team, with offices in Malmö and Helsingborg. She is a member of the firm’s dispute resolution group and is active in arbitra-tion and litigation cases.

Wen Dai joined our Hong Kong office in September as a visiting lawyer. Wen has worked as a case manager at China Economic and Trade Arbitration (CIETAC) in Beijing since 2007. She has interned with the Arbitration Institute of the Stockholm Chamber of Commerce. Wen has unique prac-tical experience of CIETAC arbitration and other arbitration proceedings in China.

Nordic touch with a Chinese edgeSwedish daily business newspaper Dagens Industri, 30 July 2011.

www.mannheimerswartling.se

Fang Fang joined our Shanghai office in August. She has worked as a Legal Supervisor at the Shanghai World Expo Co- ordination Bureau and Legal Assistant in a foreign law firm.

Rachel Dong is currently seconded to the Banking and Finance group in Stockholm and Chris Yuis seconded to our Hong Kong office until February 2012.

Our team in China currently comprises 5 partners/special counsel and 22 associates/assistants.

mannheimer swartling to release book on doing business in chinaThomas Lagerqvist and Ulf Ohrling are the authors of Mannheimer Swartling’s Little Red Book: Quotations from a China Practice. The book seeks to convey a basic understanding about China and some of its more fundamental characteristics, as well as provide some practical advice on how to deal with the basic business environment in China from a cultural and strate-gic point of view. In the book, they outline how the art of doing business in China begins with understanding its culture and being able to relate to its effects in a relevant and effective way.

The book is scheduled to be released in October and has been written in English.

what’s upsunningdale acquires atec of swedenSunningdale Tech Ltd is a leading manufacturer of precision plastic components and is listed on the Main Board of the Singapore Exchange. Sunningdale Tech has more than 7,000 employees and operates across five countries. Sunningdale has through its subsidiary Sunningdale Tech (Europe) Holding Pte. Ltd. acquired ATEC of Sweden AB and Latvian AS ATEC from Plasticscommerce Pte Ltd. ATEC of Sweden AB is a major provider of plastic injection moulding solutions for pro-duction of plastic articles for the retail industry in Scandinavia.

Sunningdale was advised by Mannheimer Swartling as local counsel in the transaction. The firm’s team was led by Ulf Ohrling, China, and Fredrik Andretzky, Stockholm.

nils eliasson co-authors the first commentary on the new hong kong arbitration ordinanceArbitration in Hong Kong, administrated by the Hong Kong International Arbitration Centre (HKIAC) or the International Chamber of Commerce (ICC), is the dispute resolution me-chanism of choice for many companies worldwide with respect to cross-border business transactions in the Asia-Pacific regi-on. With a new Arbitration Ordinance as of June 2011, Hong Kong further improves and modernizes the framework for arbitration proceedings in Hong Kong. The new Ordinance is also more user-friendly for parties that are not familiar with Hong Kong law, something which is likely to make Hong Kong

an even more attractive place for international arbitration. Nils Eliasson has – together with other arbitration practitioners in Hong Kong – co-authored the first commentary on the new Arbitration Ordinance, The Hong Kong Arbitration Ordinance: Commentary and Annotations, which was published by Sweet & Maxwell in June.

forced capital increases The legal community is awaiting an amendment of the “Circular Hui Zi Han (2011) No. 7 Notice on the Implementation Guideline for Issues Relating to the Capital Verification for the Reinvestment by the Chinese Holding Company”, commonly referred to as Circular No.7, that has been issued by China’s foreign exchange authority SAFE in March 2011. This rule has burdened foreign invested holding companies to perform a capital increase if they intend to reinvest RMB earnings within China. This requirement has been widely criticized because it would trigger withholding tax on the amount of the increased capital and add another time consuming procedure before an investment can be concluded. It is said that discussions between SAFE and other authorities, especially MOFCOM, will soon lead to an alteration, if not complete abolishment of this capital increase requirement.

33/f, jardine house1 connaught placecentral, hong kong, chinatelephone: +852 2526 4868 telefax: +852 2526 6568

25/f, platinum no. 233 taicang road, luwan district, shanghai 200020, chinatelephone: +86 21 6141 0980telefax: +86 21 6141 0983

Swedish daily business newspaper Dagens Industri, 30 July 2011.

The pioneers

In 1986, the Swedish Chamber of Commerce in Hong Kong was formed with 44 founding members. At that time, a couple of hundred Swedes lived in Hong Kong and some of them are still there. Here are their stories …TExT: Jan Hökerberg, Bamboo, [email protected]

Meet six Swedish pioneers in Hong KongCaroline Ergetie:Still Swedish in her heartI was only 21 years when I arrived in Hong Kong in 1983 together with my then fiancé. I went into real estate soon after, having met a Brit who ran a property group,. I worked in leasing and sales, both residential and indus-trial property. In 1988, I thought I had gained enough experience and bought a company called House Hunters together with a partner.

Six years later, my partner left when she had a child, and I took over as sole owner, which I still am. I am married to Camille, a British-Lebanese lawyer, and we have three chil-dren: Alexander, 12, Céline, 11, and Nicholas, seven years old. They were all baptised in the church of Hedvig Eleonora at Östermalmstorg in Stockholm, where we got married.

When I came here, I immediately liked the mix of modern and old in Hong Kong, all the scents, sampan boats, rice lamps and the restaurants. There was a sense of mysticism that you don’t have today. Everything was much smaller and you even saw rickshaws in Central. Now, unfortunately, much of the local flavour has disappeared. When I told my parents that I was moving to the Far East it was really the “Very Far East” in every sense of the word, today it could be any modern Asian city.

I studied Chinese philosophy, Chinese medicine, Cantonese, etc. I made many Chi-nese friends, but most of them were in some way connected with Europe. We did things like going scuba diving on the weekends.

Costs of housing were expensive then, but a fraction of today’s level. In the 1980s, rents

and mortgages amounted to some 25 to 30 per cent of the household income, while today it is some 40 per cent.

I remember the handover in 1997. It rained heavily. We gathered at the Hong Kong Club and it felt sad – and also a bit scary when we saw the People’s Liberation Army troops arrive from Guangdong in green trucks, with the soldiers standing to attention on the lorry platforms.

I haven’t noticed any big changes after the handover, other than the mainland Chinese tourists dominating the lines outside the luxury brand stores. But in general, many Hongkongers oppose the mainland Chinese influence, as we have seen clearly in demon-strations on National Day.

I still feel in my heart that I am Swedish. That feeling will not disappear, and I go there frequently. When our children have finished

secondary school we might step down a bit and think of other places to live, without definitely leaving Hong Kong.

The air pollution is getting worse. Unfor-tunately, Chinese have a short-term view on environmental issues and a strongly individu-alistic mentality.

However, Hong Kong is a good place to do business and a city of opportunities. There is an efficiency that many other big cities lack, there are many wonderful beaches and hiking trails and a great mix of people.

Karl Engdahl:Has had no reason to moveI have spent my whole working life in the textile industry, first in Sweden, then in the US, and from 1982 in Hong Kong. At that time, I took the opportunity to go and work for a textile dis-tributor, since I knew the industry and thought

Caroline Ergetie, 2005

Karl Engdahl, 2005

PHo

To: g

erha

rd J

örén

PHo

To: g

erha

rd J

örén

28 DRAGONNEWS • NO.03/201128 DRAGONNEWS • NO.03/2011

Meet six Swedish pioneers in Hong Kong

Hong Kong was an exciting new market.Originally, I had planned to stay three years,

but I got stuck here since I could never find another place that would be more fun to live in than Hong Kong. Another reason is, of course, that I met Wendy, a local Chinese, in 1985, and she became my wife. I have a stepson, who is 31 years today and works as a doctor.

In 1988, I became the main owner of the company, Kinsan Collections, and I still am.

Hong Kong was, of course, very different in the 1980s and 1990s compared to now, but when you live here you don’t really notice the big changes happening. Many of the small shopping lanes are gone today, which is a pity.

I never considered leaving Hong Kong be-fore the handover, even if many other people felt insecure about what would happen. After 1997, I haven’t seen many real changes. Of course, we know that the “Big Brother” is in Beijing and we can see that the local govern-ment has limited power.

Even though my company was a founding member of the Swedish Chamber of Com-merce, I have not been a very active member in the Swedish community, since people come and go all the time. My friends here are mainly the ones that I have known for a long time.

I go to Sweden two times a year – one short trip in January and another, a little longer, in the summer. It is nice to go there, but I don’t have any plans to move back. I will probably try to combine Asia with Europe after I retire, but after all these years one foot will always be in Hong Kong.

Hong Kong is a very dynamic, exciting

and multi-cultural place and a city that never sleeps, even if I get more tired nowadays …

Anders Nelsson: He feels integrated in Hong KongI was born in the US, but have lived in Hong Kong since I was four years old. My parents were Lutheran missionaries in China and they were posted to Hong Kong in November 1950 to work with refugees from the mainland.

I lived in the hills above Shatin and went to school in Kowloon. You might be surprised to hear that there was a lot less greenery back then. Many hills were bare with little vegeta-tion. Millions of trees have been planted since. It was also very much less crowded. The population in 1950 was about 600,000. Now it is more than 10 times that …

I have been in the music and entertainment industries ever since producing school dances at the age of about 15. I have also written about entertainment in various magazines and newspapers. Apart from running my own com-panies, I was also artists and repertoire (A&R)

manager for the record company EMI from 1976 to 1979 and managing director at BMG, another record company, from 1989 to 1992.

The longest time I was away from Hong Kong was in 1965 when I served in the Swed-ish military. It only lasted about three months, but I also worked in a dance band as a stand-in bass player during that summer. The band was called Cool Candys and it was complete culture shock after living and playing rock and roll and pop here!

My spouse, Loretta, is local Chinese and works for Cathay Pacific. We have no children, but 12 nephews and nieces who love to visit “exotic” Hong Kong. I speak Cantonese fluent-ly and Mandarin semi-fluently and, like most people in Hong Kong, I am very integrated into the very multicultural population and don’t mix with any particular group, such as Swedes.

But I go to Sweden on average once every second year and if I miss Sweden I stroll to IKEA to have meatballs.

I like the energy here and I intend to stay in Hong Kong.

Staffan Löfgren:Likes the positive attitude to businessI first came to Hong Kong in 1984 to do trainee work at Ekpac in Aberdeen. I went

back to Gothenburg to finish my Master of Science at Chalmers, and then moved perma-nently to Hong Kong in 1986.

The first years I worked with European property sales and China trading until I was hired by Kamewa Propulsion in 1989, where I spent eight years and was area manager for Asia. In 1997, I founded the ScanAsia Group, which does financial management consulting.

In 1989, I met Angelica, who was to become my wife. We have one daughter, born in 1991.

In my view, the city has not changed much since the mid-1980s, apart from a few new buildings and some reclaimed land. I think the significant changes occurred in the 1960s and the 1970s. The cost of living in the mid-1980s was probably not much differ-ent from today, if you look at it in terms of proportion of income.

I never considered leaving Hong Kong be-fore the handover in 1997. Why would I have done that? After 1997, I haven’t noticed any major changes, but I know that friends who are in journalism find it a bit more difficult to be critical of Hong Kong and Beijing’s politi-cal systems.

I have been active in the Swedish Cham-ber of Commerce and I still am. I have been a director and the chairman of the Events Com-mittee for many years and I still have a few old Swedish friends in Hong Kong.

We are in Sweden every summer during July and August, so I don’t miss it.

I like Hong Kong because of the positive attitude to business and problem-solving, but

Anders Nelsson, 2008

Staffan Löfgren, 2005

PHo

To: g

erha

rd J

örén


I met Toei, a Cathay Pacific air hostess from Thailand, in 1979. We got married seven years later. We have a daughter, Michelle, and a son, Joachim. Michelle is working in the US and Joachim is studying there.

When I came to Hong Kong, the city felt much smaller and easier to grasp compared with today. There were only a few watering holes where the expats met, such as Dick-ens Bar, Disco Disco in Lan Kwai Fong and Hollywood in Tsimshatsui. The Swedish community was very small – only 150 people in all. But that also created more of a family atmosphere, and you got to know most of them. It was cosy, you might say.

Besides the cost of housing (and that of fresh milk!), I always found other prices to be on par with where I came from.

Hong Kong has developed a lot since the handover in 1997, but not due to the change in sovereignty. The Beijing leadership deserves credit for the fact that the handover went so smoothly that you hardly would have noticed it, unless you were an expat administrator. What has improved is that China is now much more accessible from Hong Kong, and what has deteriorated is the air quality.

Compared to today, I interacted much more with the Swedish community when I first came here. I was then a bachelor, look-

ing to widen my social as well as business network. Another bachelor and I started a monthly dinner gathering for Swedes, and it was their first regular get-together besides the yearly invitation to the consul-general’s residence. Usually, we ended up with 25 to 40 guests each time. Not bad, considering how small the community was then.

The best thing about Hong Kong is that you get to keep most of the money you earn. That makes it a perfect place to start a busi-ness. Besides, you will never feel bored here and you eat well!

The worst thing is that you will probably always remain an expat, even after many years. It has not bothered me that much, but it is a bit strange – after 34 years. I guess it is because our cultures are simply too different. b

the social life and had a lot of fun!The rents were of course outrageous,

even though I got a bargain at HK$7,500 per month for a 1,200-square-foot apartment in an old building. Then, as today, one could spend a fortune in one of the top-class hotel restaurants or eat well for next to nothing at a local dai pai dong (cooked-food stall).

Ease of business has stayed the same, but too much has become politicised. Too much of what is happening in the bureaucracy today is about people protecting their own backs for

fear of public scrutiny and criticism. I haven’t interacted that much with the

Swedish business community, since our business is very local, although we have had tremendous support from Handelsbanken.

I try to go to Sweden once a year. I love the summer there, but I don’t miss anything specific. The best thing in Hong Kong is the opportunities the city offers and the ease with which one can pursue one’s dream. I plan to stay for the foreseeable future, as I have a busi-ness to run.

Bengt Sjöberg:A perfect place to start a businessIn 1977, I accepted a job offer from the logis-tics company ASG to be stationed in Hong Kong and it has been my home ever since.

Hong Kong was not my first station-ing abroad. I had spent a couple of years in Prague and in Jeddah (in Saudi Arabia), so I had something to compare it with. And Hong Kong came out on top, which is why I have never seen any reason to move on.

I continued to work for ASG and by the end of the 1990’s its Far Eastern activi-ties changed name to APC (for Asia Pacific Cargo), an operation I now own. Since the new millennium, I have also been a found-ing partner in a few start-ups, such as hotels in Phuket, a hedge fund in Sweden, a leasing company in the Far East and Scandinavia, a stationary store chain in Norway and a couple of property companies in Hong Kong and Sweden. I guess I have itchy fingers when it comes to new ventures.

the air pollution is getting worse. I will keep my base in Hong Kong until I retire. After that, who knows …

Peter Fransson:He pursues his dream in Hong KongI came to Hong Kong in 1983 on a business trip and moved here in 1985. My Austral-ian employer needed someone to develop the business in Hong Kong. I was cheap and single with no kids!

I have stayed in Hong Kong since then, except for a couple of years in the mid-1990s when I went back to Australia.

From 1985 to 1988, I was doing meat trading around the world, but mainly imports to Hong Kong.

In 1988, I started my own business, but quickly realised that I needed financing, and brought in a majority partner, a Swedish investment group. In the early 1990s, I sold my remaining share to that group and the business was soon after sold to a Taiwan-based company called Tait.

I left for Australia at the end of 1994, but before that I had taken over some of Tait’s food business in a new start-up, known today as Saison Food Service Ltd.

I returned to Hong Kong in early 1997 and have since then built the business into one of the leading high-end meat import and distribution companies in Hong Kong.

The first six months mostly consisted of work, trying to get to know the place, the market and customers and also to prove for the bosses that they had done the right thing by sending me here. But I also soon got into

Staffan Löfgren, 1985

Peter Fransson, 1986

Peter Fransson, 2005

Bengt Sjöberg, 2007

PHo

To: g

erha

rd J

örén

PHo

To: g

erha

rd J

örén


The pioneers

We all need a little of that human touch.

In business, especially in global logistics,

we all need a “human” to talk to, not a

computerised voice.

APC believes in personal service. We don’t

force our customers to accept a standard

freight solution. We talk to them personally

to find tailor-made solutions. Door-to-door,

of course.

We give you flexibility, trust and customer

attention that no business system can match.

That’s APC.

You may call us A Personal Company.

www.apclogistics.com

A Personal Company (APC)

TExT: Eskil Hallström, [email protected]

hen Linus Holmsäter arrived in Beijing about two years ago with a degree in international economics, he had a job waiting

for him at the Swedish company BrainHeart Industries. But he also had ambitions to introduce the Swedish Friskis&Svettis, or Heyrobics, concept to China.

Heyrobics is not your usual aerobics, but a serious, sweaty workout loaded with a surprising amount of socialising and fun.

After one year in China, Holmsäter offi-cially started organising and leading Heyro-bics sessions in Chaoyang Park in Beijing. The word spread quickly and, as the crowds grew, he decided it was time to give Heyrobics 100 per cent. He has been working full time with Heyrobics for several months now and the organisation is growing fast.

Holmsäter is now known in Beijing as “the Swede in the pink shorts”.

He is the son of Johan Holmsäter, the founder of the sports association Friskis&Svettis, one of the

W

The Swede in the pink shortsLinus Holmsäter has introduced the Friskis&Svettis, or Heyrobics, concept in China and has the sports brand company Li Ning as a sponsor.

most well-known fitness organisations in Sweden, and he is also a semi-professional athlete.

What makes Heyrobics so special?“Firstly, it is a very effective form of workout. It really exhausts every single muscle in your body. Secondly, it is an incredibly social expe-rience. People often come early and stay long after the session is over just to socialise.

“The social mix that the sessions attract in Beijing are something quite rare. While, at first, participants were mostly Westerners, now more and more Chinese are joining in.

“Another difference between Heyrobics and aerobics is that Heyrobics is easy to adapt to an intimate group as well as to a huge crowd. In the sessions we held outside the Nordic pavilions during the World Expo in Shanghai we had over 2,000 people.”

“The biggest session planned so far for China is when Heyrobics holds the official warm-up session for the Beijing Marathon in mid-October with 30,000 participants.

Linus Holmsäter is responsible for

spreading the highly contagious

Heyrobics “epi-demic” in China.


Name: Linus HolmsäterAge: 27Hometown: StockholmTime in China: Two yearsPlan to stay in China: indefinitelyWork: HeyrobicsPassion: The joy of movement

Linus Holmsäter in brief

What has been the greatest chal-lenge in China?“In general, I feel everything has been going quite smoothly so far. The most difficult part is the Chinese bureaucracy – getting access to the venues we want to use can be somewhat problematic. But we have never had a prob-lem with the police; on the contrary, we have had police officers joining the workout. They were all very happy and seemed to enjoy it very much. It is quite obvious that we are not a threatening political movement, and now we also have official sponsors in [the sports brand company] Li Ning and the Beijing Marathon, showing that we are officially accepted.”

Is there anything that has been easier in making Heyrobics accepted in China than in other places?“I think the social aspect of Heyrobics is what attracts most people. As an expat in Beijing, life

We never had a problem with the police; on the contrary, we have

had police officers joining the workout.”

At the sessions Heyrobics held outside the Nordic pavilions during the World Expo in Shanghai more than 2,000 people participated. (Photo: Lily Huang for the Swedish Committee for Expo 2010)

can be a bit lonely sometimes and to come and work out with other people without any social barriers can be very comforting and a great way to unwind. At the same time, the quality of other group workout sessions in China is usu-ally not very high. Heyrobics is a high quality workout that offers some social fun.”

Compared to Swedes and other West-erners, how receptive are the Chinese to Heyrobics? “In many ways, I would say that the Chinese are more receptive than many Swedish people. In Sweden, it would probably be difficult to start up something like Heyrobics because most Swedes have firmly set views on working out

and what it should be. In China, that is not the case, and everyone is very curious and open to try new things. For the Chinese, there are no strict ideas of what a workout has to be and, even if people come and work out in a suit and leather shoes, no one cares. Similarly, the foreign crowd in Beijing is usually much more open to new things than they might be at home.”

So it is a form of networking; should I bring my business cards?“Ha ha. It’s definitely a great form of networking! But you will be interacting so much, I’m not sure you’ll even need your business cards.”

At international networking events it may sometimes be difficult for people from different nationalities to mix and bond. Is this case with Heyrobics?“Not at all. It’s easy for everyone to mix and

bond. It happens naturally. Firstly, the price for one session is quite affordable – just 20 yuan – so anyone can join. Secondly, it’s very easy to follow, even if you are a beginner, resulting in a very easy and unrestrained atmosphere. Eve-ryone is there in their workout clothes (except for the occasional Chinese in suit and tie), no matter whether they are Chinese or Western, the CEO of big company or a student.”

Are you doing teambuilding for com-panies?“We do, although we only work with a few companies right now. This is something we’ve just started and it’s growing rapidly. Because Heyrobics breaks down social barriers and allows everyone to interact in such a free and unconstrained way, it is ideal for teambuilding in companies with an international staff. For Swedish companies, it is especially interesting because Heyrobics originated in Sweden and the concept is familiar to Swedes.”

With all these almost free sessions, how do you make ends meet?“The phase we are in now is mainly about branding and attracting people to come and try out Heyrobics. We have started work-

ing with a few companies and a number of sponsors. At the same time, we are organising some commercial events, such as the Swedish Running Camp and the official warm-up for the Beijing Marathon. Personally, I’ve been awarded a scholarship by the Swedish entre-preneur Anders Wall, and that will keep me afloat financially this year.”

What are the plans for the future?“Short-term, to continue working on brand-ing and building our participant base, not only among Westerners but increasingly among the local Chinese. To manage growing demand, we are in the process of recruiting two interns to our organisation.

“Mid-term, we aim to build a more com-plete sponsor structure with a few Heyrobics products. The long-term plan is to build our own gyms around China. Beijing will still be the focus in the years to come, but China is big and we aim to spread to other cities within a couple of years. Thanks to Li Ning’s spon-sorship, people are already doing Heyrobics in conjunction with running clubs in nine differ-ent cities in China.”

When do we meet in Chaoyang Park?“Every Sunday at 5pm! But we have Heyro-bics sessions almost every day on different rooftops and indoor venues around Beijing. We are also premiering sessions in Shunyi district. You can find all the details at www.heyrobics.com!” b

Heyrobics is a group workout and also a social experience.


Hong Kong

n The President and Ceo of Seb group, Annika falkengren, visited Hong Kong in late May, in conjunction with the opening of the new Seb office. She gave a thought-provoking speech at a luncheon organised by the Swedish Chamber of Commerce at Club Lusitano.

falkengren is one of the most influential leaders in the Swedish finan-cial sector, but also plays a prominent role in shaping the new regula-tory framework for banking in the european Union. in her talk, “busi-ness and banking in a new financial Landscape – a new world order or business as Usual?”, she outlined the changes that have come in the aftermath of the 2008 financial crisis, and Seb’s strategy going forward.

with the re-regulation of the financial markets, the costs for banks are increasing. banks have to hold larger amounts of capital as a buffer in accordance with the global regulatory standard, basel iii. new rules have also meant that banks have hired more staff in the areas of com-pliance, risk control and auditing. falkengren pointed out that Swedish banks were robust enough to withstand the 2008 crisis without support from the government, unlike banks in other countries.

for most of the bank’s customers it has been business as usual, partly because the emerging consumer markets have been helping to drive global gdP growth. we are now seeing the return of the relation-ship bank again and Seb aims to be a trusted partner in business, with a focus on long-term relationships, according to falkengren.

She started as an Seb trainee in 1987 and worked in Trading & Capital Markets from 1988 to 2000. She was appointed Head of Merchant banking in 2000. in 2001, she became Head of the Corporate & institu-tions division and executive Vice President of Seb. Since 2005 she has been the President & Ceo of Seb group.

Banking in a new financial landscape

C

M

Y

CM

MY

CY

CMY

K

Eline_RecruitmentAd_Horizontal_2-9-11.pdf 1 02/09/2011 5:45 PM

SEB’s CEO, Annika Falkengren, says that banks have had to adjust to the changes that have come in the aftermath of the global financial crisis.


For more than 25 years, Vinge has assisted its clients with their business activities and investments in China and also Chinese clients with their investments in the Nordic countries.

Vinge’s long local presence and experience and familiarity with local conditions, enable our China Practice Group to provide invaluable assistance to its clients as legal advisers as well as on all practical aspects of doing business in China.

Vinge is one of the leading law firms in the Nordic region, offering a full range of commercial legal services. We can show you the way to create a successful business!

STOCKHOLM GOTHENBURG MALMO HELSINGBORG BRUSSELS HONG KONG SHANGHAI

A good commercial lawyer sees beyond the law

www.vinge.se

For further information, please visit our web site or contact our offices in

Shanghai

Tel +86 21 5382 0196

hong Kong

Tel +852 2523 6149

The secret of success

Beijing

in the Swedish classroomn The summer is usually a very quiet and relaxing time for the chamber and its members, but this summer has been a little bit different since the chamber’s office was turned into a Swedish class-room for local chamber members, learning Swedish.

it started already in April with the first course for Swedish language students, one lesson every Sat-urday morning for eight weeks. At the same time, a tailor-made Swedish language course for SAS’ crew ran twice a week for eight weeks.

finally, from 20-21 June and for four weeks onward our two summer courses took place. These two summer courses were rather more intense, with two lessons per week.

The chamber has learned that there is big interest among our local members for learning more about Sweden and the Swedish language, so this is some-thing you will see and hear more about in future.

What it takes to manage effectively across culturesn “The Mindful international Manager” was the title of a talk given by researcher, consultant and trainer, Profes-sor Peter franklin, on 24 August at the radisson blu Ho-tel in beijing. This was the first breakfast meeting after the summer break and kicked off a new fresh season at the Swedish chamber in beijing.

Professor franklin described how the mindful manager working across cultures consciously focuses more than he would at home on the context and process of communica-tion and management and somewhat less on the outcomes.

This is especially necessary in the international field, where work-related behaviour and communication styles may be very different and thus difficult to handle. Away from home, the implicit “cultural compass” people rely on in their own environment works much less well.

with the help of an amusing training film and insights from relevant research and the presenter’s consultancy experience, the talk illustrated the competencies and qualities mindful international managers ideally require to handle – and leverage – the complexity of the cross-cultural situation. franklin presented the push-and-pull competencies important for leading an international team, underlining those which are particularly important for expat managers.

Amanda Eriksson (Tiandi Rong Tong), Peter Franklin (speaker), Kristin Oppelstrup, (student) and Birgitta Söderström (Thomas International).

From left, Jessica Tian (SEB), Mari Håkansson (Swedish teacher), Zhao

Yang (Infotiv), Yu xiaoqun (SAS), Aileen Hou (Ericsson) and Jaycee Yang

(Swedish Chamber of Commerce).

Lv Rong (Ericsson), Gao Lan (Euro-Center), Lynn Li (Visit Sweden), Mari Håkansson (teacher), Zhang Qi and Vika Jiao (Swedish Chamber of Commerce).


Shanghai

n in early January when the board of the Shanghai Chapter was plan-ning the year’s activities, vice chairman Mats Johansson had a brilliant idea: “why not organise a table tennis tournament?” Table tennis was a great choice as both Sweden and China have a long history in this sport. The board was immediately excited and the date was set to 6 June, Sweden’s national day.

Swedish companies were invited to send players. The Swedish Consu-late general in Shanghai were engaged as the project leader and managed to get the former world champion Jörgen Persson as a main attraction.

Persson and Jan-ove waldner are both regarded as table tennis legends in China. They are seen as the two foreigners who have offered Chinese table tennis the toughest competition over a long period of time. Since his first olympic appearance in 1988, Persson has faced seven generations of Chinese players.

The Shanghai Table Tennis Association became involved and the Lu-wan Stadium was booked. A great crowd-puller was the Chinese player feng zhe, who is one of few Chinese players who has actually won against Persson. He is now the trainer for the Shanghai team.

Some 200 players participated in the tournament. Most Swedish play-ers were eliminated in the first round, although superstar Persson made up for it by defeating all Chinese players facing him.

The event proved to be a full day of activities, including games, show-cases and knock-out ping-pong for Chinese children facing Persson, who did press interviews in between his games.

finally, there were two winners, Chen Jinbang from ericsson in

Successful table tennis tournament

Sweden’s consul-general Bengt Johansson (second from left) helps former top player xu Jingsheng, Jörgen Persson, Chen Yiping, vice director at the Sport Commission in Shanghai, and Feng Zhe, former top player, to open the box with the VIP cake.

the male competition and Li Songping from Alfa Laval in the female competition. Congratulations to both of you!

Thank you to our gold sponsors, the Swedish Trade Council, gunnebo and getinge and our silver sponsors, Handelsbanken, Volvo Car och Husqvarna. Last but not least thank you to our bronze sponsor, exir.


HONg KONg ORDiNARY MEMBERS >>>

SEB Hong Kong17/f Jardine House1 Connaught PlaceCentralHong KongTel: +852 3159 2888email: [email protected]: www.seb.se

Feedbackonline LtdThe workstation Suite 100143 Lyndhurst TerraceCentralHong KongTel: +852 8125 4060email: [email protected]: www.feedbackonline.com

East Capital Asia Limited13f wyndham Place40-44 wyndham StreetCentralHong KongTel: +852 3655 0550

jmk-one LimitedC1, 31/f, winfield building5 Ventris roadHappy ValleyHong KongTel: +852 6711 4112email: [email protected]

Activitiesjmk-one is a Hong Kong based consultancy specialised in advising retail and wholesale businesses. it provides con-sulting services covering the whole value-chain, reaching from product development, sourcing and purchase to its clients´ encounters with the markets, creating the right shopping experience. it is well connected in german, South African and Swedish retail.

Chamber representativeMichael Knappstein, Ceo

Activitiesfeedbackonline provides fully web-based appraisal tools measuring your employees’ performance on a variety of parameters. The feedbackonline tools are generally ac-claimed by our customers as one of the easiest fully web-based performance tools in the market. The feedbackon-line technology platform is highly automated, it is currently available in 10 languages and works for every organisation with 10 employees or more.

Chamber representativePeter Lysell, Managing director

1 2

Activitieseast Capital is a leading independent asset manager special-ising in the emerging markets of eastern europe and China. basing its investment strategy on thorough knowledge of the markets, fundamental analysis and frequent company visits by its investment teams, east Capital actively man-ages eUr5.9 bn in the east Capital Universe.

east Capital’s clients are some 450,000 direct and indirect private investors throughout the world, as well as many leading institutions. The company is headquartered in Stockholm with offices in Hong Kong, Kyiv, Moscow, oslo, Paris, Shanghai and Tallinn.

Chamber representativesMichael Hanson-Lawson, Ceonikodemus dahlgren, Senior Account Manager

1

2

ActivitiesSeb provides a wide range of financial services for nordic and german corporate clients and international financial institutions throughout Asia. in Hong Kong, the product range includes Cash Management, Trade finance, Lending, fixed income, foreign exchange, equities and Corporate Advisory services. in addition Seb executes Shipping and Project Asset and export finance transactions across Asia. Private individuals are catered for through Seb’s Private banking services.

Chamber representativesCarl Christensson, Chief executiveHåkan Aldrin, Senior Vice President/Head of CrM

1

2

1 2


SIGTUNASKOLAN HUMANISTISKA LÄROVERKETTelephone: +46 8 592 571 00

www.sshl.se

SWEDEN’S LEADING BOARDING SCHOOLHigh school and Middle school programmes in Swedish or English. The IB Diploma has been established at SSHL for over 30 years with a proven record of success. Numerous free time activities and close contacts with universities and industry. Our school is located in idyllic Sigtuna on the shores of Lake Mälar, close to Stockholm cultural life and Arlanda airport.

Come and visit SSHL, an international version of Sweden. We are happy to show you the school and our activities at any time. We also offer a trial period, giving you the opportunity to experience school and boarding life.

During the summer we offer summer courses in Swedish and Mathematics and a confirmation camp.

Uppsala Universitybox 256751 05 UppsalaSwedenTel: +46 18 471 0000email: [email protected]: www.uu.se

ActivitiesUppsala University is a comprehensive international research university dedicated to advancing science, schol-arship, and higher education. for more than 500 years, Uppsala University has been a distinguished seat of learn-ing with rich opportunities for students and researchers at all levels. Uppsala students are in touch with the very latest research findings in modern settings. researchers at Uppsala University participate in research projects with col-leagues at more than 1,000 universities around the globe, mainly in europe, the US, and Asia.

Chamber representativeThomas fredengren, external relations Advisor

SAS Scandinavian Airlines Systemgeneral Sales Agent: Jensen express Co, Ltd5f-11 & 12no 207, dun Hwa n rdTaipei 105TaiwanTel: +886 2 2545 5665email: [email protected]

Activitiesin Taiwan, Scandinavian Airlines (SAS) has an authorised sales agent, Jensen express Company Ltd, for both SAS passenger and cargo sales. SAS has no flights to Taipei directly but has a sales office for tickets from Taipei via bangkok, beijing, Shanghai (soon will be opened) to Copenhagen and beyond cities with the connection flights by other airlines.

Chamber representativesAnna Chuan, Managerginna Chiang, general Sales Manager

1

1 2

2

ActivitiesSince it started its operations in the dairy field in 1883, Alfa Laval has continuously extended its business to cover many different industries. our products and solutions are used to heat, cool, separate and transport products in industries that produce foods and beverages, chemicals and petro-chemicals, pharmaceuticals, starch, sugar and biofuels.

Chamber representativeTan Chor Hion, Managing director

Alfa Laval Taiwan Ltd9f-1, no.16, Lane 35 Jihu roadTaipei 11492, TaiwanTel: +886 2 6600 1166email: [email protected]: www.alfalaval.com.tw

HONg KONg OVERSEAS MEMBERS >>>

Le Pellewg Plein 59A1054 rb Amsterdam, netherlandsTel, netherlands: +31 6 3205 7070Tel, Taiwan: +886 9 8881 6508email: [email protected]: www.lepelle.com

ActivitiesLe Pelle is helping small and medium-sized businesses to build websites, with or without internet shops (e-commerce), in one or many languages. The company also serves some major international companies with localisa-tion, i.e. together with its network of translation companies and translators the company prepares software packages for all the markets the clients need.

Chamber representativePer Jansson, director

HONg KONg iNDiViDUAL MEMBERS >>>

Miro MalmelinTel: +852 6827 2766email: [email protected]


Russell BeardmoreTel: +852 6101 6560email: [email protected]

Michael ZellTel: +852 6900 7712email: [email protected]

Jan KirsteinTel: +852 6117 9001email: [email protected]

Marita BildtTel: +852 6431 1706email: [email protected]

LC-Tec International (Shenzhen) Co, Ltdblock d, Heng Qiang industry ParkJian An road of High Technology Areafu Yong Street, bao An districtShenzhen, guangdong Province 518104Tel: +86 755 8149 9991 fax: +86 755 8149 9995web: www.lc-tec.com

ActivitiesLC-Tec international (Shenzhen) Co, Ltd is a China-based company. Today, the company has a modern and fully functional TfT-LCd production. The factory is located in Shenzhen in southern China. The business mission is to be a contract manufacturer in the TfT-LCd module manufac-turing business. our current target customers will be front-end panels manufacturers, or their agents, who need back-end manufacturing capacity.

Chamber representativePeter grufman, general Manager e-mail: [email protected] Mobile: +46-243 79 40 70

SOUTH CHiNA ORDiNARY MEMBERS >>>

SOUTH CHiNA ASSOCiATE MEMBERS >>>

Johannes Lundgrenbaochen road, zhuhai fTz zhuhai, guangdong Province 519030Mobile: +86 138 2309 1257e-mail: [email protected]

Helena HagelbergTel: +852 6101 6560email: [email protected]

JOHNNY’S PHOTO & VIDEO SUPPLY LTD

• Photographic Equipment• Video/Audio Hi-Fi Equipment

• Home Appliances• Colour Film Processing/Enlargement

• Audio/Video Dubbing Services• Communication Equipment

• Electronic Equipment• Repairing Services

• Mail Order Acceptable

Shop No.65, 1/F, Admiralty Centre, 18 Harcourt Road, Hong KongTel: 852-2877-2227 Fax: 852-2877-2120

Mobile: 9051-9499 E-mail: [email protected]

Opening Hour: Mon – Sat 9:00am – 7:00pm Sunday 2:00pm – 6:00pm

Thomas DavidssonTel: +852 9350 9937email: [email protected]


DragonNews_version 2011.indd 4 2011-04-04 10:12:13

ActivitiesAsia Perspective is an independent management consulting firm with global presence and local knowledge. we assist our clients with business advisory regarding analysis, strategy and implementation. our mission is to turn our clients’ Asia business vision into reality and add significant value to their business. we offer specialist services covering purchasing, market entry and commodity strategy. we cover all major in-dustries including automotive, clean-tech, consumer goods and medical products.

Chamber representativesdaniel Karlsson, Managing director e-mail: [email protected] Mobile: +86 137 6108 9974Johan Leijonhielm, Consultante-mail: [email protected] Mobile: +86 136 5161 9211

Asia PerspectiveSuite d, 2nd floorno 1326, Middle Huaihai roadXuhui districtShanghai 200031Tel: +86 21 3425 0695 fax: +86 31 3425 0701web: www.asiaperspective.net

1

1 2

2

Arkivator Equipment (Kunshan) Co, Ltdbuilding 3, no 78 Changyang road Yushan Town KunshanJiangsu Province 215300 Tel: +86 512 5017 8500fax: +86 512 5017 8501web: www.arkivator.com

ActivitiesArkivator equipment (Kunshan) Co, Ltd is exclusively in-vested by Arkivator Holding Ab and was established in July 2010. The main business is making packaging machines, high precision parts, telecom parts as well as the relevant parts, and providing after sales service, technology and consulting service for above mentioned products.

Chamber representativeMikael Helgevall, general Managere-mail: [email protected]: +86 139 1681 4240

CHiNA ORDiNARY MEMBERS >>>

ActivitiesMarketing of insulation material for the railway vehicle manufacturing business. railway industry market research and maintenance of Chinese customers as well as techni-cal support/after-sales services etc.

Chamber representativeVito bai, Chief representativeMobile: +86 135 0203 1010, +86 136 9313 0008

Locon Sweden ABSuite 418, building bno 700, Huangpi South roadShanghai 200025Tel: +86 21-5111 5905fax: +86 21-5111 5907web: www.locon.se

ActivitiesLocon Sweden Ab is a neutral consultant authority in the logistic field focus mainly on transport purchasing, nego-tiation, analysis, consulting and support. The company has been active since 1994. our aim is to provide our customer with all necessary information regarding quality and economy based of no prior influence from company culture, many references and experiences, analytic pro-gramme, time savings, increased knowledge and freedom of choice.

Chamber representativeKaj bergström, Managing directore-mail: [email protected] Mobile: +86 139 1736 5379

Isoflex AB Sweden Beijing Representative Officeroom 601, 3rd building, no 21, Xing Sheng Street beijing economic and Technology development zonebeijing 1000176Tel: +86 10-6787 8979 fax: +86 10-6787 8979 web: www.isoflex.se


DragonNews_outlined.indd 3 2011-02-24 15:23:37

To see how we can help you please visit our website www.pcs.com.hk orwrite to John Barclay at [email protected]

CHiNA ASSOCiATE MEMBERS >>>

Karl KarlssonApartment 1402, Unit 1, 21 northern Towerno 23, San Li Tun northChaoyang districtbeijinge-mail: [email protected]: +86 139 5808 5150

ActivitiesHörle Automatic (ningbo) works with parts in steel and metal.

Chamber representativesAnders Magnusson, Presidente-mail: [email protected]: +46 70 5420 150gabriel Yu, Vice general Managere-mail: [email protected]: +86 135 8688 8569

Hörle Automatic (Ningbo) Co, Ltdnordic industrial Park no 3 Jinxi road, zhenhai ningbo, zhejiang Province 315221Tel: +86 574 8630 6761fax: +86 574 8630 6762web: www.horleautomatic.se

1

1 2

2

Midsummer ABelektronikhöjden 6Se-175 43 JärfällaSwedenTel: +46 8 5250 9610fax: +46 8 5250 9611 web: www.midsummer.se

ActivitiesMidsummer manufactures equipment for CigS thin film solar cell production, using our own proprietary process. it is a cost-effective and energy-efficient way to manufacture so-lar cells with a low initial investment. The cells can be used in conventional module manufacturing. we have a customer base in China which we aim to expand.

Chamber representativeSven Lindström, Presidente-mail: [email protected]: +46 70 776 4748

Retention Group room C, 18 floor, V Capital Mansion no 333, Xianxia road Shanghai 200336Tel: +86 189 1627 5051 fax: +86 21 3372 9713 web: www.retentiongroup.com

Activitiesretention is a Scandinavian management consulting com-pany specialising in recruitment. our mission is to assist our customers to find and allocate the right people and compe-tence aligned with the right strategy in order to achieve their defined goals. with local offices in Malmö, Copenha-gen, brussels and Shanghai we can support your operations in europe and Asia.

Chamber representativesChristian bjärntoft, Country Manager Chinae-mail: [email protected] Mobile: +86 138 1640 8610Mats Lind, Ceoe-mail: [email protected] Mobile: +46 734-353 560

1 2

1

2

Lind Andersson Consulting AB room 1401b, Xincheng Mansionno 167, Jiangning roadShanghai 200041Tel: +86 1348 2010 431 e-mail: [email protected]: www.lindandersson.se

ActivitiesLind Andersson is a professional management consulting firm offering governance, risk and compliance solutions such as enterprise risk management, internal audit, internal control, fraud prevention and fraud detection services for Swedish-based companies operating in the Chinese market.

Chamber representativesMikael Andersson, representativee-mail: [email protected]: +46 72 234 5698Stephen Yip, Managing director Chinae-mail: [email protected]: +86 1348 2010 431

1 2

1

2


TOGETHER WE ARE STRONGER . . .

Simple - Independent - ReliableWe transport goods and optimise logistics processes for all types of industries.Big as well as small. And we are there on time - in the most economic way.

With Scan Global Logistics, you have a trustworthy partner that provides flexibleand individual solutions which make your transportation completely simple. Allthe way.

41/F China Online Centre 333 Lockhart Road Wanchai Hong KongPhone: +852 21174 800 Fax: +852 28389 330

E-mail: [email protected] www.scangl.com

Executive Homes HK Ltd 1601-02 Universal Trade Centre, 3 Arbuthnot Road, Central, Hong Kong

www.executivehomeshk.com [email protected]

EXECUTIVE HOMES HONG KONG Boutiquemäklaren med fokus på personlig och professionell service

Our international team of residential agents is here to assist corporations seeking advice and assistance with the relocation process of their executives. We are also happy to welcome individual new-comers, and assist with the search for a home here.

Welcome to contact our Swedish consultant Anna-Karin Ernstson Lampou

Office: +852 2537 1177Direct: +852 2537 0554

E-mail: [email protected]

Vi hjälper svenskar med att hitta sitt drömboende i Hongkong

C-042474

188x110_v14.indd 1 2011-04-28 06.01

A f T E R H O U RS

n Books

Pioneering book about Swedes abroadAlmost 550,000 Swedes are currently living outside Sweden. The association Svenskar i Världen (Swedes Around the World) wanted to know more about their thoughts, experiences and opinions and took the ini-tiative of producing a book about Swedish emigrants. The book, Utvandrare.nu – Från emigrant till global svensk (“The Emigrant Today – From an Emigrant to a Global Swede”), was published in August this year.

Ewa Hedlund, a former journalist and spokesper-son for European commissioner Margot Wallström, has written the book together with Sigrid Bøe, who is also a journalist. Both authors have their own experi-ences of living abroad. Besides giving the historical background to the Swedish emigration, they also inter-viewed around 50 Swedes that are living or have lived abroad and compiled some interesting statistics.

“There is not much knowledge in Sweden about the emigrants. A common attitude is that a migrated Swede is a lost Swede. Most people do not realise that there are more than half a million potential Swedish ‘ambassadors’ around he world that can contribute to increase the knowledge and interest about Sweden, Swedish business and society,” concludes Hedlund, who has lived in Brussels for 24 years.

According to the statistics in the book, which were compiled based on reports from embassies around the world, the US is the most popular country to emigrate to. Around 100,000 Swedes live there. China is number 18 on the list and has attracted 3,000 Swedes.

The book is in Swedish and can be ordered from Svenskar i Världen, [email protected].

n Fashion

Towards Sino-Swedish sustainable fashionThis autumn, the Swedish Institute’s exhibition “Eco Chic – Towards Sustainable Swedish Fashion” will open in Shanghai. To warm up for the exhibition, and in order to involve the local scene, the Consulate General of Sweden, the Swedish Insti-tute and the local partner Shangtex arranged a workshop on sustainable fashion for Chinese designers on 25 August with Swedish fashion designer, Professor Matilda Tham.

The exhibition will showcase Swedish fashion designers who take an environmentally-friendly and ethical approach to their work, without sacrificing style. The exhibition illuminates high-fashion alternatives to much of today’s environmentally harmful clothing. The exhibition has toured the world, and has showed in cities such as Berlin, New York and San Francisco.

Before it opens in Shanghai on 21 October, the scope of the exhibition will be extended to include Chinese design. Nine prominent local designers and two Chinese students from Raffles Design Institute have been invited to create 18 eco-friendly outfits, exclusively for the exhibition. Designers include names like May J and Helen Lee.

The exhibition will be open from 21 October to 2 November at Bridge 8, Phase 2, 550 Jumen Road, Luwan District, Shang-hai. To keep updated, please visit www.swedenabroad.com.

Ewa Hedlund är skribent och har bott i Bryssel i 24 år där hon arbetat som Europa-korrespon-dent för bland annat SvD, DN, Affärsvärlden och Veckans Af-färer. Hon har varit taleskvinna för s-politikern Margot Wall-ström då hon var kommissionär i EU-kommissionen. Hon är också författare till flera böcker om Europeiska unionen.

Sigrid Bøe är skribent och har arbetat på Dagens Nyheter, bland annat som undersö-kande reporter och biträ-dande nyhetschef. Mellan 2001 och 2005 var hon DN:s korrespondent i Bryssel. Hon är numera fri skribent i egen verksamhet.

UTVANDRARE.NUfrån emigrant till global svensk

Ewa Hedlund Sigrid Bøe

n Bars

Bar with a viewFlair is Shanghai’s latest bar with a view. It is on the 58th floor in the new Ritz-Carlton hotel in the Shang-hai IFC building in Pudong. A split-level outdoor ter-race offers views directly across to the big ball of the Pearl Tower, then beyond to the Bund, the Hongkou shoreline and downtown Puxi. Like the building itself, prices scrape the sky: RMB350 is the door charge.Phone: +86 21 2020 1717Opening hours: Daily 5:30pm-2amAddress: Ritz-Carlton Shanghai Pudong, 8 Century Avenue, Lujiazui, Pudong

An open-air terrace offers a great view

of Shanghai.

n Dining

Danish food and design houseRoyal Smushi House is a Danish food and design house in Sanlitun, Beijing, offering dining, design and shopping. During the day, sample the fresh, so-called smushi, which is a combination of the Danish smørrebrød and sushi. At the bakery you can enjoy afternoon tea with Danish pastry and cakes. The mixture of funky, ba-roque, cosmopolitan and chic styles creates a bright and brilliant space that makes you want to stay.

While you are here, you can drop into the design shop, with exclusive Georg Jensen products and the trendsetting Monocle Shop. For dinner, the menu of-fers a selection of contemporary Danish dishes. You can end your evening at the bar for cocktails, good company and a casual vibe.

The house is designed by Rud Christiansen and Lo Østergaard – the Danes behind The Royal Cafe in Copenhagen and Japan. More in-formation at [email protected]: +86 10 6416 9664 Address: No. 12 Dongzhimenwai Ave, East Building, Chaoyang District, Beijing


*Further information about the study can be obtained at www.myprivatebanking.com/category/researchNordea Bank S.A is a part of the leading financial services group in the Nordic and Baltic Sea regions. Being the leading Nordic pan-European banking entity in Luxembourg and Switzerland, Nordea Bank S.A. focuses on interna-tional Wealth Management, Fund Distribution and Fund Management services. Our 360 employees serve a wide spectrum of international clients in more than 125 countries. Some products and services mentioned may, due to local

regulations, not be available to individuals resident in certain countries. Published by Nordea Bank S.A., Luxembourg. Nordea Bank Singapore Branch, 3 Anson Rd #22-01, Springleaf Tower, Singapore 079909 .

Find one Private Banking advisor, then make sure he knows many specialists

Martin Carey, Private Banker

Wealth management today involves much more than selecting the best stocks and bonds. At Nordea Private Banking, we offer you an experienced personal advisor and a comprehensive overview of your wealth based on thorough research and rigorous analysis. One private banker, many specialists –

making it possible.

Visit us at www.nordeaprivatebanking.com, or call +65 6317 6522 to arrange a meeting.

Independent study by

MyPrivateBanking.com

BEST Private Bank

in Europe

AD_Dragonnews_eng.indd 1 02/03/10 13:43

T H E C H A M B E R A N D i

Danyang Fang, chief representative of Stena in Beijing, enjoys the Swedish chamber’s activities and she values the networking opportunities that come with the membership.

anyang Fang is the chief repre-sentative of Stena Rederi AB at their Beijing representative office. Among her duties are develop-

ing and liaising with the shipping business for Stena, a multinational corporation headquar-tered in Gothenburg, Sweden. She has worked for Stena for the last eight years.

When did your company become a member?“Stena became a member in 2004.”

Why did you join the chamber?“As a Swedish company in China, we felt at home when we became members. Membership of the chamber enables a channel of communi-cations among Swedish and Scandinavian com-panies in China, which fosters collective under-standing of Chinese business environment and benefits our investor. Activities organised by the Swedish chamber provide access to both Swed-ish and Chinese government resources, which is difficult to secure otherwise.”

What has the membership meant to your company?“The membership has meant that we are in a group of Swedish companies. We enjoy the cham-ber’s activities and value the network opportuni-ties. Through a broader network we have chances to explore more business opportunities, get more knowledge and make even more friends.”

Do you attend the chamber events? “Yes, I attend the Chamber events frequently.”

What kind of activities do you enjoy the most? “I enjoy breakfast meetings and seminars, especially breakfast meetings on economic development, new rules and regulations, taxes, etc. The crayfish party is also very exciting.”

What kind of activities would you like the chamber to arrange in the future? “I would appreciate it if the chamber would arrange more breakfast meetings and seminars on economy, taxes and laws. More cooking lessons would also be welcomed.”

Do you have any other comments about the Swedish chamber?“The Swedish chamber is quite a success. We hope it will continue to be our home in China.” b

At home with the chamber

D

Danyang Fang of Stena enjoys the fact that her

company is a member of the Swedish Chamber of

Commerce in China.

Swedish Chamber of Commerce in Hong Kong

DIRECTORS OF THE BOARDStefan Rönnquist, Chairman [The Tomorrow Group]Hans Jarne, Vice Chairman [Ericsson]Gunnar Mansfeld, Treasurer [Troy Group]Eva Henriksson [Henriksson Consulting]Staffan Löfgren [ScanAsia Consulting]Niclas Möttus Olsson [Getinge Infection Control East Asia]Kristian Odebjer [Advokatfirman Odebjer Fohlin]Ulf Ohrling [Mannheimer Swartling]Per Ågren [APC Asia Pacific Cargo]

Swedish Chamber of Commerce in China

DIRECTORS OF THE BOARDMats Harborn, Chairman [Scania]Katarina Nilsson, Vice Chairman [Advokatfirman Vinge]Fredrik Ektander, Vice Chairman [SEB]Erik Ek, Treasurer [Swedbank]Yvonne Chen [GM, Swedish Chamber of Commerce in China]Pao-Ling Röjdmark [associate member]Birgitta Ed [Springtime]Johan Menckel [ Sapa Group] Tom Nygren [Ericsson]Lars-Åke Severin [PSU]Thomas Sörensson [B&B Tools] Sara Wramner [VisitSweden]

Through a broader network we have chances to explore

more business opportunities.”


dragon news - no. 3, 2011

Documents