European businesses in Shanghai are calling on the Chinese government to restore foreign business confidence and take steps toward repairing fraught international ties now that Covid Zero is over. China should eliminate barriers to investment faced by foreign firms, as well as promote the yuan’s internationalization and strengthen financial support for smaller companies, the European Chamber of Commerce’s Shanghai chapter wrote in its annual report published Tuesday. “Much more remains to be done to restore Shanghai’s reputation as a great place to live and conduct business” following last year’s spring Covid lockdown, Bettina Schoen-Behanzin, chair of the chapter, wrote in the report. The citywide restrictions brought business to a standstill and confined residents to their homes for months. Foreign direct investment fell and portfolio investment dropped as well Foreign businesses slowed down their investments in or even pulled money out of China last year as a housing slump and the government’s stringent virus controls pushed economic growth to its second-slowest pace since the 1970s. Rising geopolitical tensions added to the uncertainty, and the amount of new utilized foreign direct investment in both November and December fell more than 20% below the same months in 2021, according to data from […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
