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China foreign business sentiment reaches ‘tipping point’ as zero-Covid dents confidence, erodes attraction
- British Chamber of Commerce in China calls for ‘predicable and proportionate’ measures to be applied under the zero-Covid policy
- It is the latest call for China to tweak its highly restrictive virus controls to mitigate disruption to the economy and stabilise foreign capital
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Foreign business sentiment in China has reached “a tipping point” with uncertainty denting confidence and eroding attraction for overseas talent and investment, the British Chamber of Commerce in China said on Tuesday.
The chamber, in its latest position paper, called for “predicable and proportionate” measures to be applied under China’s zero-Covid policy to mitigate disruption to mobility and manufacturing activities.
“Recent sporadic outbreaks of Covid-19 across the country and the corresponding snap lockdowns have taken away one of things most businesses have been able to depend on: a stable and relatively predictable business environment”, the paper said.
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“A growing sense of detachment and isolation among the foreign business community in China is now tangible.
“British business sentiment around China has reached a tipping point.”
The lack of clarity and communication in regards to various policies, goals and processes is perhaps the most significant cause for concern
It is the latest call for China to tweak its highly restrictive virus controls to mitigate disruption to the economy and stabilise foreign capital.
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