The Chinese Eldorado has lead in the wing.
The country, which had attracted 2,100 subsidiaries of French companies in recent years and not far from 445,000 employees in total, has lost its attractiveness to French business leaders, according to a new survey by the Chamber of Commerce and Industry. French in China (CCI France China) carried out at the beginning of September.
Blame it on the “
zero Covid
” policy, ardently pursued for almost three years by the Chinese regime.
More than 60% of the 303 French companies surveyed believe that their margins have been reduced due to the “
zero Covid
” policy.
Half of them also anticipate a drop in their turnover, some of up to 80%, for the 2022 financial year. nearly 8 companies surveyed out of 10, the country's image has deteriorated, considerably affecting their willingness to invest there.
Read alsoChinese growth is bogged down in “
zero Covid
”
For the CCI France China, the clearly displayed choice of the Chinese regime to favor the fight against the virus to the detriment of economic activity constitutes a tipping point.
“The uncertainty caused by the tightening of measures observed during the health crisis at the expense of economic activity could call into question the centrality of China within global value chains”
, warns the defense body of the interests of the companies. French entrepreneurs in China.
China may have eased the conditions for entering its territory this summer, but the subsidiaries of French companies in China
“are [still] struggling to attract foreign talent
,” notes the CCI Franche Chine.
The organization calls for the definitive exit from the “
zero Covid
” policy and pleads for a return to a
“transparent, predictable and fair business climate”
so that investments continue.