Central business district skyline view at sunset in Beijing, China.
Sheng Peng | Visual China Group | Getty Images
A record number of British companies are pessimistic about doing business in China and are taking a “wait and see approach”, according to a survey by the British Chamber of Commerce in China.
Geopolitical tensions, a slowing global economy, increased talk of self-sufficiency and shifting investor sentiment are increasingly among the top challenges clouding the business outlook, according to the survey released on Tuesday.
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Julian MacCormac, chairman of the British Chambers of Commerce, said: “UK companies are willing and wanting to invest in China… however, there is some uncertainty and that is what our findings worry us a bit. “Beijing reporter.
“Seventy percent of companies say it’s too early to make these long-term commitments to the Chinese market,” he added.
AstraZeneca, bpjaguar land rover and shell Are some members of the Chamber of Commerce.
Foreign direct investment into China has slowed sharply since the country abandoned strict Covid-19 restrictions late last year, with dollar-denominated foreign direct investment falling 3.3% from January to April compared with the same period last year.
According to the Office for National Statistics, trade between Britain and China reached 111 billion pounds ($140.09 billion) last year, making China the UK’s fourth-largest trading partner.