Advertisement

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

Reading Time:3 minutes
Why you can trust SCMP
38
Foreign firms are growing increasingly frustrated with Beijing’s Covid policy. Photo: AP
Orange WangandHe Huifengin Guangdong

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.

Advertisement

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.

This week, however, Communist Party mouthpiece the People’s Daily squashed expectations by publishing strident commentaries endorsing the hardline approach three days in a row.

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
Harald Kumpfert

“If there is no change, then more people will lose hope,” he said on Thursday during a webinar.

Advertisement
loading
Advertisement