The view from China
Geopolitical tensions impacting the business environment
The American Chamber of Commerce (AMCHAM) launched its annual business white paper this week and unsurprisingly geopolitical tensions and bilateral business environment concerns dominated discussions. Furthermore, 38% of US businesses in Hong Kong indicated that they would be leaving the island by the end of 2021 due to ongoing political and business tensions.
Nevertheless, US finance behemoth BlackRock bucked this trend announcing that it would be expanding its wealth business into China, with a 50.1% stake in a joint venture with Singaporean sovereign wealth fund Temasek and China Construction Bank.
The British Chamber of Commerce in China will be launching its annual business environment position paper later in May so it will be interesting to gauge British business confidence and overall sentiment in China. Certainly, the change to China’s animal testing regulations, which came into effect on 01 May, was a welcome advance for both animal welfare an