BEIJING: Struggling to deal with China's harsh lockdown measures during the pandemic, foreign businessmen are hopeful that after this autumn's crucial 20th Party Congress, Beijing's leaders will continue to address the country's economic difficulties and Will give more flexibility.

According to representatives of foreign trade chambers operating in the country, doing so will help bring more migrants back to China.

Others argue that Hong Kong should lead the way in easing its quarantine rules and moving away from requiring hotel quarantines.
Some business operations in the global business hub, where 94% of the population have received at least two vaccinations against the coronavirus, continue to be hampered by such mandatory precautions.

Henry Cheung, the board chairman of the Finnish Chamber of Commerce in Hong Kong, claimed that for many businesses having employees in hotels is "a cost", especially for small and medium-sized ones as they may be responsible for the expense.

“There is a custom in Europe where employees take long holidays in July or August” (Hong Kong), explained the managing director of Finnish engineering giant Kon Elevator, Cheung. Quarantine restrictions mean they must reduce their leave, which they don't want to do.

According to Cheung, the main justification given by employees who "temporarily don't want to return" to a quarantine hotel is a sense of "closure", especially if they have not been exposed to the coronavirus.
Representatives from the business chamber also noted that the widely reported exodus of migrants from Hong Kong and mainland China is based on "anecdotal examples" rather than formal numbers, which would reflect the so-called migration trend that has hit the headlines in recent months. have been in. ,

However, it cannot be denied that some foreign visitors are deterred by a strict zero-Covid policy on the mainland, which is unusual in most parts of the world. However, according to the global business community, they are still trying to maintain their operations and business presence in the nation.

The same community now expects Hong Kong, long regarded as a vital link between mainland China and the rest of the world, by regaining its openness and serving as a pioneer for national policy reform. To maintain that reputation.

According to Johannes Haack, president of the German Chamber of Commerce in Hong Kong, "the migrant community is declining." "Many Chinese citizens who choose to immigrate are in Shanghai. Even though Shanghai eases its lockdown measures, there is a trust issue.

When dealing with Omicron's outbreak, Hack continued, "they can't tie a person to a chair," and there is an "issue of concern" among foreigners, especially those traveling with children.

China's commerce ministry said on Friday that FDI from January to June increased by 17.4%, or year-on-year, to 723.31 billion yuan (US$107.21 billion). FDI in China grew by 21.8% in the US dollar in the first half of this year.

Despite an overall upward trend, investments from both the United States and the European Union declined in 2020, with the former falling 23.8 and 11.8 percent, respectively, from 10 years ago.

According to the hack from the German chamber, foreign companies expect Beijing to review the full situation later this year.
It is understandable that the Party Congress would be an important political event, he continued. According to our assumption, the Chinese government "wants to look at the economy and zero-Covid later, then re-evaluate the policy for its own benefit."

According to the Global Business Complexity Index published on June 28 by consulting firm TMF Group, which is headquartered in Amsterdam, China was the 14th most difficult country to do business in this year, up from 12th last year and sixth in 2020.

According to a report that accompanies the index, China's "laws and practices deviate from international standards", but technology could help simplify things while luring in foreign direct investment.

Russia's invasion of Ukraine, mainland China's interference in Hong Kong affairs and the position of Taiwan have been cited in Western media as reasons why foreign trade officials are wary of doing business in China.

However, Cheung from the Finnish Chamber of Commerce emphasized that since Sino-Europe trade is important and China is one of the largest markets for multinationals, businesses should "just talk about business" and "get involved in politics". should not be."
According to official EU trade figures, China was actually the third largest partner for EU exports and the largest for EU imports last year.

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