Will China ever relax zero-Covid? Foreign firms seek signals at 20th party congress
- Foreign investors are watching closely for signs of a shift in China’s zero-Covid policy at the 20th party congress
- The mood among multinationals is increasingly despondent and many are reporting difficulty on the ground
Foreign firms have warned many in China are in danger of “losing hope” if there is no change to the country’s draconian pandemic rules, after Beijing sent its clearest message yet that it is sticking with its zero-Covid strategy.
Amid growing frustration, the Chinese public and investors are closely watching for signs of a policy shift at the 20th party congress that starts on Sunday.
The current mood in China is “really down” and many people are looking for significant change after the twice-a-decade congress, including reopening of the border, said Harald Kumpfert, chairman of the Shenyang chapter of the European Union Chamber of Commerce in China.
If there is no change, then more people will lose hope
“If there is no change, then more people will lose hope,” he said on Thursday during a webinar.