China will remain open to the world, President Xi Jinping said at a trade summit on Wednesday, just days after Beijing doubled its strict border controls.
Shire’s remarks came as many foreign businesses suspended their operations due to the prolonged Covid-19 lockdown in financial center Shanghai, with the American Chamber of Commerce warning that it was ready to “exit” foreign talent due to unbridled restrictions.
Beijing is digging its heels in a strict zero-covid policy to stamp out as clusters emerge, but an Omicron flare-up has complicated supply chains as cities restrict movement.
On Wednesday, China’s top leader Xi Jinping “stressed that China’s determination to open up to high standards will not change,” according to a text from the Foreign Ministry in his speech.
He added in a video speech that “China’s door will be wide open to the world.”
He added that China would “build a viable business environment” that meets international standards.
But just a few days ago, immigration authorities reiterated rules restricting outbound travel by its citizens, and Chinese business groups flagged operating challenges due to lockdown and other Covid-19 policies.
The German Chamber of Commerce found in a survey this month that only a small number of companies could resume production, while foreign workers increasingly plan to abandon China’s epidemic strategy.
The European Union’s chamber of commerce said it was “overwhelmed” by the confidence that the control system had caused major disruptions across the city.
Xi, however, struck a promising note on Wednesday, calling for a “balance” between the epidemic response and economic development, as well as strong macroeconomic policy coordination across the country.
Most foreigners have been barred from entering China since the spring of 2020 due to coronavirus restrictions.
(This story was not edited by NDTV staff and was automatically generated from a syndicated feed.)