EU Parliament: "China's Zero-COVID Policy Diminishes Investment Appeal"

[Image source=AP Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] The European Union (EU) Chamber of Commerce in China mentioned China's zero-COVID policy and other factors, evaluating that China's attractiveness as an investment destination has diminished.

According to Bloomberg News and others on the 21st, the EU Chamber of Commerce in China stated in a report that recent policy decisions by the Chinese government have made "China less predictable, less stable, and less efficient." The report added that this undermines the confidence of companies considering future investments in China.

Joerg Buckley, President of the EU Chamber of Commerce, said, "Businesspeople are here for the market, but we are ideological, so we can see the market being shaken," adding, "Ideology is prevailing over the economy." He cited the Chinese government's zero-COVID policy, crackdowns on the technology sector, and power shortages as representative examples.

The EU Chamber of Commerce evaluated that China's zero-COVID policy is enforced inflexibly and inconsistently, suppressing European companies. It pointed out that this policy has made it difficult to attract foreign or Chinese talent and maintain employment, and has also caused European companies' operations in China to become isolated.

These criticisms come at a time when the EU is reassessing its political and economic relations with China. The EU and China are also in conflict over trade negotiations due to issues such as the Xinjiang Uyghur policy. Currently, the EU is considering retaliatory measures against trade partners that block European companies' market access, with China being a likely target.

One foreign media outlet reported that "this is the most pessimistic evaluation the EU Chamber of Commerce in China has issued since its establishment in 2000."

This content was produced with the assistance of AI translation services.