More than half of the 121 companies polled by the American Chamber of Commerce in China have either reduced or delayed investment in the country
Residents queue at a Covid-19 testing facility in Shanghai, China, on March 25 2022. Picture: BLOOMBERG/QILAI SHEN
“We understand China choosing to prioritise health and safety above all else, but the current measures are throttling US business confidence in China,” Colm Rafferty, chairperson of AmCham China, said in the statement. “An already challenging situation continues to worsen,” he said, adding that companies “don’t see any light at the end of the tunnel.”
However the increasing restrictions and growing concern from foreign firms about Covid-19 control policies are undermining that trend. If the Covid Zero lockdowns continue, they will likely further damage the prospects for economic growth and make it harder for foreign business to expand here.
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