A report by a European business group says that uncertainty and “draconian regulations” have drastically raised risks for foreign businesses in China.
President of the European Union Chamber of Commerce in China Jens Eskelund speaks during a press conference for European Chamber in Beijing, China, Wednesday, March 20, 2024. Uncertainty and draconian regulations have drastically raised risks for foreign businesses in China, a report by a European business group said Wednesday. – Uncertainty and “draconian regulations” have drastically raised risks for foreign businesses in China, a report by a European business group said Wednesday.
EU Chamber officials said China’s changing business environment partly reflects moves by Beijing to minimize risks due to trade friction and dependence on imports of key commodities or industrial products. That's especially the case given trade friction with Washington and discussions about “decoupling” supply chains from China after the disruptions that occurred during the COVID-19 pandemic.to foreign companies and investment.
It's particularly difficult for medical equipment companies and research and development. Meanwhile, pharmaceutical companies are “quite alarmed by data security regulations that make clinical trials impossible," said Markus Herrmann Chen, co-founder and managing director of the China Macro Group.Part of the challenge results from China's increased focus on national security in terms of reliance on technologies vital to its own industries. In part, such strategies are driven by U.S.
One sore point for European business: a Chinese announcement of plans for anti-dumping investigations into three French brandy producers: E. Remy Martin & Co., Martell & Co. and Societe Jas Hennessy & Co.European Union investigation At the same time, companies also face risks in cutting back and must bring their “best game” to China, while others feel too exposed, especially after the shocks of the pandemic, when entire cities were ordered into lockdown and factories suspended production at times.
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