Meeting with SCOFCOM to present Business Confidence Survey Results 2022

2022-07-06 | Shanghai

On 6th July 2022, the European Chamber Vice President (VP) and Shanghai Board Chair Bettina Schoen and Shanghai Chapter General Manager Dr Ioana Kraft, presented the key findings of the 2022 Business Confidence Survey to Zhu Yi, Deputy Director General (DDG) of the Shanghai Municipal Commission of Commerce (SCOFCOM). Officials from the Foreign Investment Administration Division and Foreign Investment Promotion Division also attended the meeting. 

VP Schoen briefed SCOFCOM on the national findings including the challenges of the accelerating expat exodus across China, remaining regulatory market access barriers and the detrimental impact of ongoing COVID-19 containment measures on foreign investment. She also highlighted Shanghai-specific findings such as the challenges posed by the stringent 2-month lockdown and localised epidemic prevention measures. 

The feedback from Deputy Director General Zhu Yi highlighted the value of the European Chamber’s annual Business Confidence Survey, which is read by SCOFCOM every year.  Deputy Director General Zhu Yi also noted that the European Chamber’s key recommendations will be passed along to the city government and various relevant departments.  

Since the COVID-19 outbreak in April, SCOFCOM has visited more than 1000 companies to understand key concerns and address challenges encountered by Shanghai-based enterprises. Dr Ioana Kraft appreciated all the support from SCOFCOM to our members and stressed that new policy announcements are welcome, but clear and open communication is key to restoring business confidence in Shanghai. The European Chamber looks forward to further meetings with SCOFCOM and to strengthening industry-government dialogue.