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☆ Foreign business groups in China wary as new Xi term begins
▼ + stars: | 2022-10-24 | by ( Josh Horwitz | ) www.reuters.com time to read: +2 min

SHANGHAI, Oct 24 (Reuters) - Overseas business groups in China expressed on Monday wariness about President's Xi Jinping's newly unveiled leadership team and his stated priorities, with some urging against greater state intervention in the market. While the European business group was positive on remarks Xi made on environmental protection, it said it wanted more clarity on how China planned to remain committed to reform and opening up but also how it would "stay independent and self-reliant". "It is not clear how these two statements can be reconciled in practice," it said. Overseas businesses in China have grown increasingly critical of policies such as a tough zero-tolerance stance on COVID-19, which they say is discouraging investment and preventing them from attracting foreign staff. Register now for FREE unlimited access to Reuters.com RegisterReporting by Josh Horwitz; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Hu's dramatic China congress exit fuels speculation, official silence
▼ + stars: | 2022-10-24 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +4 min

During the once-in-five-years congress, Xi solidified his grip on power by appointing a Standing Committee made up entirely of loyalists - and excluding the three most senior members of Hu's once-powerful Communist Youth League faction. State TV's Saturday night news broadcasts included images of Hu at the congress, before his exit. Chinese politics, always opaque, have become even more secretive under Xi's decade-long tenure. "Despite the plausibility of a mundane explanation of ill-health, the CCP's secretiveness vis-à-vis senior Chinese leaders and elite Chinese politics lends itself to many more salacious explanations," he said. On China's Twitter-like Weibo, a few social media users alluded to the incident by commenting on old posts featuring Hu.

BEIJING, Oct 23 (Reuters) - Li Qiang, who oversaw Shanghai's grinding two-month COVID-19 lockdown this year as party boss of China's commercial hub, is on track to become China's next premier after President Xi Jinping unveiled a new governing body packed with loyalists. Current Premier Li Keqiang, a more reform-minded voice, will step down in March after the maximum two terms. "We have not seen Li Qiang introduce any market-oriented reforms," said Lam. In 2015, Li accompanied Xi on a visit to the United States to meet then-President Barack Obama. In Seattle with Xi, Li gave a speech calling for more cooperation between Zhejiang and U.S. firms.

☆ There's no 'exodus' of European companies from China: EU Chamber of Commerce in China
▼ + stars: | 2022-09-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's no 'exodus' of European companies from China: EU Chamber of Commerce in ChinaJoerg Wuttke, president of the European Union Chamber of Commerce in China, says, however, that many of them are looking to invest in Southeast Asia and Taiwan.

☆ European businesses are rethinking their plans for a 'closed' China
▼ + stars: | 2022-09-20 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Vcg | Visual China Group | Getty ImagesBEIJING — 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. 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. He said the lockdowns and uncertainty for businesses have turned China into a "closed" and "distinctively different" country that might prompt companies to leave. Foreign businesses can still find specific areas of opportunity. China is improving local market access, albeit in areas where locals already dominate or are "desperate" for foreign investment, Wuttke said.

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