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European businesses are rethinking their plans for a 'closed' China

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cnbc.com

BEIJING — European businesses in China are revaluating their market plans after this year's Covid controls further isolated the country from the rest of the world, said Joerg Wuttke, president of the European Union Chamber of Commerce in China.

China's stringent Covid policy has restricted international travel, and business activity — especially after a two-month lockdown this year in Shanghai.

The tough measures of the last two years initially helped China recover more quickly from the pandemic's shock compared to other countries.

But the policy increasingly contrasts with a world that's increasingly relaxing many Covid restrictions. For European businesses, «we talk about a complete readjustment of our view on China over the last six months,» Wuttke told reporters at a briefing for the chamber's annual China position paper, released Wednesday.

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