Hong Kong ─ Switzerland

The bilateral relationship between Hong Kong and Switzerland remains stable. In 2023, Switzerland ranked 15th among Hong Kong’s trading partners in the world. The total trade between the two places amounted to CHF 11.1 billion in 2023. About CHF 2.3 billion or 4.3% of the total trade between Switzerland and the Mainland of China was routed through Hong Kong in 2023.

• 15th place
  HK's trading partner in the world
  (2023)
• CHF 11.1 billion
  Bilateral trade volume
  (2023)
• 5th place
  Switzerland's trading partner in Asia
  (2023)

In 2023, Hong Kong's main exports to Switzerland were silver and platinum (44.5%), ores and concentrates of precious metals, waste, scrap and sweepings of precious metals (other than of gold) (34.1%) and jewellery (15.1%). Major Swiss exports to Hong Kong included watches and clocks (34.4%), jewellery (27.3%) and pearls, precious & semi-precious stones (10.9%).

As of 2023, there were 51 regional headquarters, 81 regional offices and 128 local offices in Hong Kong representing parent companies located in Switzerland as well as using Hong Kong as a gateway for doing business with the Mainland of China and the rest of Asia.

In January 2018, authorities and private sector representatives from Hong Kong and Switzerland signed three Memoranda of Understanding (MOU) in Switzerland on strengthening collaboration in financial markets, fintech and promotion of private wealth management.

In October 2017, Hong Kong has signed an agreement with Switzerland for conducting automatic exchange of financial account information in tax matters (AEOI).

In June 2011, Hong Kong and the European Free Trade Association (EFTA), of which Switzerland is a member, signed a Free Trade Agreement. The agreement is Hong Kong's first free trade agreement with European economies. It covers trade in services and goods as well as investment, and other trade-related issues like protection of intellectual property. The agreement has further strengthened bilateral relations between Hong Kong and Switzerland.

Hong Kong and Switzerland also signed a comprehensive agreement on the avoidance of double taxation (CDTA) in December 2010. The CDTA would help investors better assess their potential tax liabilities from cross-border economic activities, foster closer economic and trade links between the two places, and provide added incentives for companies in Switzerland to do business or invest in Hong Kong, and vice versa.

Recent high-level visits underline the importance of relations between the two places. In May 2019, the Chief Executive, Mrs Carrie Lam, and the Secretary for Commerce and Economic Development, Mr Edward Yau, welcomed a finance delegation led by Zurich Canton Government Councilor, Mr Ernst Stocker, to Hong Kong. In September 2018, the Chief Executive, Mrs Carrie Lam, met with the Founder and Executive Chairman of the World Economic Forum (WEF), Professor Klaus Schwab, in Hong Kong. In October 2017, Ms Corine Mauch, Mayor of Zurich visited Hong Kong and met with the Chief Executive, Mrs Carrie Lam. In April 2017, Federal Councilor Ueli Maurer, Head of the Federal Department of Finance (FDF), led a delegation from the Confederation and Swiss financial centre to Hong Kong.

From Hong Kong, in May 2024, the Secretary for Health, Professor Lo Chung-mau, attended the 77th World Health Assembly of the World Health Organization (WHO) and also met with representatives of top-notch companies from the biotechnological and pharmaceutical sector and local university in Switzerland. In mid-January 2024, the Financial Secretary, Mr Paul Chan, supported by the Secretary for Commerce and Economic Development, Mr Algernon Yau, led a Hong Kong delegation to Davos to attend the World Economic Forum (WEF) Annual Meeting 2024 and participated in bilateral meetings, corporate events and media interviews and met with political and business leaders. In late January, the Chief Secretary for Administration, Mr Chan Kwok-ki, attended the Universal Periodic Review session of the United Nations Human Rights Council and met with representatives of several international and local organisations in Switzerland. In April 2023, the Secretary for Innovation, Technology and Industry, Professor Sun Dong, led a delegation to visit top-notch companies from the biotechnological and pharmaceutical sector in Switzerland. The Secretary also hosted a reception at the 48th International Exhibition of Inventions of Geneva (Geneva Inventions). In January 2023, the Financial Secretary, Mr Paul Chan, travelled to Davos to hold bilateral talks with representatives from politics, business and the media and to take part in various events and receptions as part of the WEF Annual Meeting. In January 2020, the Chief Executive, Mrs Carrie Lam, leading a Hong Kong delegation, attended the WEF Annual Meeting in Davos. The Secretary for Commerce and Economic Development, Mr Edward Yau, joined the visit. In June 2019, the Secretary for Labour and Welfare, Dr Law Chi-kwong, visited Geneva, Switzerland to attend the 108th Session of the International Labour Conference (ILC). In January 2019, the Chief Executive, Mrs Carrie Lam, attended the WEF Annual Meeting in Davos. The Financial Secretary, Mr Paul Chan, and the Secretary for Commerce and Economic Development, Mr Edward Yau, joined the visit. In October 2018, the Secretary for Financial Services and the Treasury, Mr James Lau, attended the Swiss International Finance Forum in Zurich and delivered a keynote speech on "40 years of reform and opening up in China: A Hong Kong Perspective". In January 2018, the Chief Executive, Mrs Carrie Lam; the Secretary for Financial Services and the Treasury, Mr James Lau; and the Secretary for Commerce and Economic Development, Mr Edward Yau, visited Switzerland and met with senior government officials and representatives from the financial services, innovation and technology, culture and education sectors. Mrs Carrie Lam also spoke at two panel sessions at the WEF Annual Meeting 2018 in Davos.